PENN Entertainment Ends ESPN Partnership and Rebrands to theScore Bet
For the third quarter, PENN Entertainment reported revenue of $1,717.3 million, adjusted EBITDA of $194.9 million, and a net loss of $865.1 million. Year-to-date buybacks amounted to $354.4 million, and a new $750 million buyback program is scheduled to start in 2026.
Termination of ESPN Online Sports Betting Agreement
WYOMISSING, Pa.—PENN Entertainment, Inc. (Nasdaq: PENN) announced financial results for the three and nine months ending September 30, 2025, and revealed a strategic shift in its digital focus. This follows a mutual decision to end the U.S. online sports betting agreement with ESPN, Inc. early under a Termination Agreement. The exclusivity of PENN's online sports betting marketing with ESPN will conclude on December 1, 2025.
Key Terms of the Termination Agreement
- Marketing exclusivity with ESPN ends December 1, 2025.
- Further terms were addressed in the joint announcement by PENN and ESPN.
Leadership Statement
“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 Outlook
PENN intends to refocus its digital efforts leveraging its strong portfolio of regional casinos combined with a robust digital presence, following the conclusion of its partnership with ESPN.
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