ESPN Bet – Bookielink

November 15, 2024

Here are the sports betting platforms that already have Missouri market access

Those in Missouri will finally get a chance to bet on sports after voters approved a legal digital and retail sports betting initiative on 5 November. And every major operator already has some sort of existing relationship with a casino or professional sports team in the state.

Missouri’s new law requires that sports betting go live by 1 December 2025. Given that the state has an existing casino industry, it could launch sooner. And Jan Zimmerman, chair of the Missouri Gaming Commission (MGC) says the rules promulgation process has already started.

“Our folks are writing the rules and regulations as we speak,” Zimmeran told KFVS 12 on 12 November.

Zimmerman didn’t reveal a projected launch date or when rules might be available for review. But the MGC meets at the end of each month, usually around the 25th. The agenda and date for the November meeting are not posted yet. Once the process starts, it’s likely that the commission will first approve an application and open that process…

November 7, 2024

“Unfavourable hold” a drag on Penn earnings, but new products, tech are things to look forward to

As expected, Penn Entertainment reported a third-quarter loss on Thursday (7 November), but CEO Jay Snowden said the latest sports betting integration, impending launch of a stand-alone digital casino app and continued focus on land-based projects means there is much to look forward to.

During the presentation Snowden pointed to “unfavourable hold” in the northeast and a decline in the number of customers visiting casinos in the south due to weather and construction as drags on revenue. He said that retail customer demand remained stable. With regard to hold, Snowden said the low hold in the third quarter was industry-wide and not unique to Penn. The third quarter includes two of the slowest wagering months of the year in the US.

At least one analyst, Joseph Greff from JP Morgan, had lowered expectations ahead of the release. On Thursday morning Jefferies Equity Research released a note saying the numbers were “in-line with expectations”.

In terms of hard numbers, Penn has $1.8 bi..

November 1, 2024

State of the Union: ESPN-ESPN Bet now linked, Missouri initiative opposition, more

Welcome to iGB's State of the Union, a look at the biggest North American sports betting stories we've covered over the week and briefs on others we found interesting.

ESPN Bet-ESPN linking now available

On Friday (1 November) Penn Entertainment and ESPN announced that ESPN and ESPN Bet accounts can now be linked. Consumers can “seamlessly track upcoming, live and settled bets within the ESPN app and on ESPN.com.” Connecting accounts will also allow ESPN Bet to offer personalised promotions and bets.

“Bringing this new feature to market is an important step as we work to create a fully interconnected media and betting ecosystem between ESPN and ESPN Bet,” Aaron LaBerge, chief technology officer at Penn Entertainment said via press release. “Account linking allows us to better serve and engage our users by unlocking key personalisation and promotional capabilities. This feature is just the beginning of deeper integrations that will further differentiate the ESPN Bet experi..

October 9, 2024

With ESPN Bet live in New York, Penn executives bullish and focused on ESPN-ESPN Bet integration

Penn Entertainment presented a positive outlook for the Penn Interactive digital business at its Investor Day on 7 October. Highlights included green shoots already showing in New York, merely a week after ESPN Bet’s launch, and continued efforts to integrate the app with ESPN to up-sell users and cut down on time spent away from the ESPN Bet product.
Despite criticism from analysts and investors earlier in the year and claims that a Boyd takeover was on the horizon, CEO Jay Snowden is sure ESPN Bet can turn its luck around.

“Net-net, we remain positive on the ESPN Bet opportunity,” Truist analyst Barry Jonas said of the presentation.

Early signs of success in New York
New York is already showing signs of success for ESPN Bet in its first week. The presentation showed daily handle per ESPN Bet user in New York is already 296% higher than any other state it operates in.

In the first three days, ESPN Bet took $3m in bets, according to the New York State Gaming Commission. For com..

October 4, 2024

State of the Union: MA sends cease-and-desist to Bovada, NCAA not sure betting bans work

Welcome to iGB's State of the Union, a look at the biggest North American sports betting stories we've covered over the week and briefs on others we found interesting.
Massachusetts wants Bovada gone
The state of Massachusetts became the latest this week to send a cease-and-desist letter to offshore operator Bovada. The company is not licensed, but is offering online casino, pari-mutuel wagering and sports betting in the Bay State. The attorney-general’s office on Thursday (3 October) sent a letter that reads in part:

It is illegal in Massachusetts to engage in commercial gambling except where expressly
authorized by the Commonwealth. Mass. G.L. c. 4, sec. 7 (definition of “illegal gaming”); G.L.
c. 23K. Bovada offers an online casino that includes among its games slots, blackjack, roulette,
baccarat, and poker, without any license issued by the Commission under Mass. G.L. c. 23K.

Moreover, Mass. G.L. c. 23N, § 5(a) prohibits engagement in “any activity in connection with
..

September 27, 2024

State of the Union: UNLV QB, G2E headliners and more

Welcome to iGB's State of the Union, a look at the biggest North American sports betting stories we've covered over the week and briefs on others we found interesting.
Circa tries to remedy UNLV QB mess
A Circa vice-president reportedly offered to pay UNLV quarterback Matthew Sluka $100,000 (£74,730/€89,550) that Sluka said he was promised by an assistant coach at the school. But by the time the offer came, Sluka had already redshirted. He said he was leaving the Rebels, who have started the season 3-0.

Per the Action Network, Circa Sports VP of Operations Mike Palm contacted the school midweek after having a conversation with Circa CEO and owner Derek Stevens. Palm told the outlet that he talked with Stevens “about assisting the school in keeping its starting quarterback”.

“I told Derek, ‘Why don’t we take a run at it?’” Palm told Action Network. “’The kid’s claiming he’s owed $100,000. Are you willing to make a call to UNLV to help out?’”

But Sluka and UNLV had already ..

September 27, 2024

ESPN Bet now live in New York

Penn Entertainment launched ESPN Bet in its biggest market yet on Friday (27 September) when it went live in New York state. The platform is now available in 19 US jurisdictions.
The platform, a partnership between the casino company and ESPN, went live in 17 US jurisdictions in November 2023. Prior to Friday’s New York launch, Pennsylvania was the biggest state in which the platform was live.

The New York launch was later than Penn executives had pointed to, as CEO Jay Snowden said he was hoping for a late August launch during the company’s second-quarter earnings call in early August. But the New York State Gaming Commission (NYSGC) didn’t have a meeting at which to approve the application until 23 September.

Penn was able to get into New York because WynnBet left earlier this year. The state has a cap of nine platforms, and all licences were accounted for at the beginning of the year. But Wynn Resorts has been unwinding its digital betting business and exited New York over the ..

September 26, 2024

Massachusetts regulator gives Penn green light for ESPN Bet retail rebrand; removes betting on college awards from menu

As Penn Entertainment and ESPN Bet prepare to launch in New York, Penn got approval on Thursday (26 September) to rebrand its Massachusetts brick-and-mortar sportsbook. The company has rebranded and opened two others in the last two weeks.
Late last week, ESPN Bet openeda retail sportsbook at L’Auberge Casino Resort in Louisiana and it opened a venue at the Margaritaville Resort Casino on 14 September. For its Massachusetts location, at Plainridge Park, Penn was doing its due diligence by asking the Massachusetts Gaming Commission (MGC) to sign off on the change. Commission staff said it saw no “substantive issues” with the rebrand and the Massachusetts regulator gave Penn its blessing. No date was announced for the rebranding.

ESPN Bet went live digitally in 17 US jurisdictions, including Massachusetts, last November. On Monday (23 September) the company got approval from the New York State Gaming Commission to launch in that state. On Monday a Penn executive pointed to a go-live a..

September 23, 2024

ESPN Bet aiming to launch within days after getting NYSGC licence approval

On Monday (23 September) the New York State Gaming Commission (NYSGC) voted to transfer the Wynn Resorts digital sports betting licence to Penn Entertainment. This means that ESPN Bet could be live in the state by the weekend.
Penn Entertainment and ESPN have been waiting for the vote and the go-ahead to launch. Executives from both companies had previously pointed to a launch by the end of August. But the NYSGC declined to call a special meeting to vote and the last meeting was in June.

The state of New York has a cap of nine digital wagering licences. All nine were accounted for at the beginning of 2024, but WynnBet decided to get out of the digital betting business and exited the state in July. In February, Penn made a deal to buy WynnBet’s NY licence for $25m (£18.7m/€22.5m).

At Monday’s meeting, Penn executive vice-president, chief strategy and legal officer and secretary Chris Rogers told the commission that his company still has “a couple of boxes to check” on technology. But ..

August 8, 2024

Penn CEO Snowden: “Don’t believe everything you read” on M&A, points to late August NY launch

Penn Entertainment CEO Jay Snowden refused to comment on speculation of competitors teaming up to acquire the operator during Thursday's quarterly earnings call. Instead, he talked up deeper and deeper integrations with partner ESPN.
On Thursday’s (8 August) earnings call, Snowden said the company will be live in the biggest legal market in the US – New York – by the start of the college football season. He also addressed the controversial winners’ surcharge that DraftKings is floating. But his main focus was acquisition rumours.

The ESPN Bet launch last November brought the premier sports media brand into the betting sector. Snowden said it was a milestone moment. But it hasn’t yet translated into a podium position for Penn Entertainment.

Blended market share across six states averaged 6% for March, and investors have started to question Penn’s digital strategy. This led to rumours of a sale, suggesting Boyd Gaming would bite. Those rumours evolved into a joint approach with ..

July 19, 2024

State of the Union: ESPN Bet layoffs, SEC should be “vigilant” to protect athletes

Welcome to iGB's State of the Union, a look at the biggest North American sports betting stories we've covered over the week and briefs on others we found interesting.

Penn lays off some ESPN Bet employees

Less than a year after launching its ESPN Bet platform, and about three years after buying Canadian-based theScore, Penn Entertainment announced layoffs.

Front Office Sports on Wednesday (17 July) tweeted a letter from Penn CEO Jay Snowden to employees. In the letter, Snowden says the company will be “implementing changes” to “streamline the reporting lines”. He also wrote that this process will “result in a limited number of team member separations”.

PENN Entertainment—the gambling company behind ESPN Bet—had a round of layoffs, including multiple employees who focused on ESPN Bet, a source tells @FOS. (Layoffs first reported by @DustinGouker)
Here's an email that was sent to employees this afternoon from the company's CEO: pic.twitter.com/zW7LKOVI9U
— A.J…

July 5, 2024

Report: Flutter may join Boyd in bid for Penn Interactive assets, including ESPN Bet

As activist investors are pushing Penn Entertainment to divest its digital gaming arm, The Deal is reporting Flutter and Boyd Gaming may partner on an agreement. Boyd has a 5% ownership stake in Flutter, and partners with Flutter's FanDuel in the US for retail and digital sports betting.

Penn stock was up 4.22% at midday on Friday on receiving the news, while Flutter stock was essentially flat after a morning uptick. Boyd Gaming stock was also relatively flat after an early rise reacting to the news.

“Adding Flutter into the equation with Boyd of a potential Penn acquisition makes it more than interesting,” gaming consultant Brendan Bussmann told iGB. “It’s a back door into the ESPN brand for online, but would also give a brick-and-mortar presence to Flutter.”

On Friday (5 July) Seeking Alpha wrote “Flutter (FLUT) may want to partner with Boyd Gaming (BYD) as the owner of FanDuel is interested in Penn’s interactive assets, according to a report from TheDeal.com on Friday, whi..

November 2024
Mon	Tue	Wed	Thu	Fri	Sat	Sun
				1	2	3
4	5	6	7	8	9	10
11	12	13	14	15	16	17
18	19	20	21	22	23	24
25	26	27	28	29	30

Tag: ESPN Bet