Penn Entertainment Marks November 14 for ESPN Bet Launch
LISTEN TO THIS ARTICLE:Penn Entertainment has announced that its latest sports betting brand ESPN Bet, will debut in 17 states in the US on November 14th.
The betting giant made the announcement in its Q3 trading update released yesterday. The November launch has been strategically scheduled to align with the bustling sports calendar during Thanksgiving week. Notable sports events, like the NCAA college football rivalry week and the Super Bowl rematch between the Kansas City Chiefs and the Philadelphia Eagles, will be held during the week and televised on ESPN's Monday Night Football.
ESPN Bet is the result of a $1.5bn agreement between Penn Entertainment and Disney-owned ESPN, the largest sports media brand in the United States. When the partnership was unveiled in August, Penn Entertainment stated that the new brand, which replaces its Barstool Sports operation, has the potential to contribute up to $1.0 billion to its long-term adjusted EBITDA.
The operator also stated that it is looking to gain a 20% share of the US online sports betting market with ESPN Bet. The company is licensed in 17 states, including New Jersey, Pennsylvania, Massachusetts, Illinois, Ohio, Michigan, West Virginia, and Iowa.
This strategic alliance is expected to further expand our digital ecosystem and drive re-engagement with the millions of customers in our digital and retail databases, leading to compelling cross-sell opportunities.
Advertising Campaign for ESPN Bet
To aid the launch of the new betting platform, ESPN will be rolling out an initial series of integrations aimed at reaching an estimated audience of 200 million on both traditional and digital platforms. SportsCenter anchors Scott van Pelt and Elle Duncan have also been appointed to lead an advertising campaign aimed at improving ESPN Bet’s brand exposure across the US online gambling market.
Likewise, Penn has announced plans to expand its platform and media collaborations with ESPN in the coming months. The goal is to create a unified media and betting experience that will appeal to sports enthusiasts throughout the nation.
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