PENN Entertainment Announces ESPN Pact Ending and Rebranding to theScore Bet
PENN Entertainment, Inc. (Nasdaq: PENN) reported its financial results for Q3 and the first nine months of 2025, alongside a strategic shift in its digital focus.
Financial Highlights for Q3 2025
- Revenue: $1,717.3 million
- Adjusted EBITDA: $194.9 million
- Net loss: $865.1 million
- Year-to-date share buybacks: $354.4 million
- New $750 million buyback program to begin in 2026
Termination of ESPN Online Sports Betting Agreement
PENN and ESPN mutually agreed to an early termination of their U.S. online sports betting (OSB) agreement. As per the Termination Agreement, PENN’s marketing exclusivity with ESPN will conclude on December 1, 2025.
Statement from PENN CEO Jay Snowden
“When we first announced our partnership with ESPN, both sides made it clear that we expected to compete for a podium position in the space. Although we made significant progress in improving our product offering and building a cohesive ecosystem with ESPN, we have mutually and amicably agreed to wind down our collaboration.”
“PENN’s unique omnichannel strategy is anchored in a diverse portfolio of market-leading regional casinos and a complementary digital business. We are realigning our digital focus to leverage the strength of our U.S.”
Next Steps for PENN Entertainment
The company will rebrand its digital sports betting platform to theScore Bet beginning December 1, 2025, reflecting its updated strategic direction.
PENN is focusing on integrating its physical casinos and digital assets for a more streamlined omnichannel experience.
Summary
PENN Entertainment ends its ESPN sports betting partnership and prepares to rebrand as theScore Bet while focusing on strengthening its omnichannel strategy through diversified assets and digital realignment.