PENN Entertainment Ends ESPN Partnership and Rebrands to theScore Bet
PENN Entertainment, Inc. (Nasdaq: PENN) reported financial results for the third quarter and nine months ended September 30, 2025, alongside a strategic shift in its digital sports betting business.
Financial Highlights for Q3 2025
- Revenue totaled $1,717.3 million.
- Adjusted EBITDA was $194.9 million.
- Net loss amounted to $865.1 million.
- Year-to-date share buybacks reached $354.4 million.
- A new $750 million buyback program will commence in 2026.
Termination of OSB Agreement with ESPN
PENN announced the early termination of its U.S. online sports betting (OSB) marketing exclusivity agreement with ESPN, effective December 1, 2025. This decision was mutually agreed upon under a Termination Agreement.
Key Points from the Termination Agreement
- Marketing exclusivity with ESPN ends December 1, 2025.
- Further terms remain confidential between PENN and ESPN.
“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.”
Strategic Refocus
PENN plans to realign its digital efforts, leveraging its multi-channel approach that combines regional casino operations with its online platforms. The company will rebrand its digital sports betting offerings under theScore Bet starting December 1, 2025.
Author's summary: PENN Entertainment announced the end of its ESPN online sports betting partnership and will rebrand as theScore Bet, shifting digital focus to enhance its omnichannel growth strategy.
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