PENN Entertainment Secures New York Mobile Sports Betting Access
PENN Entertainment has entered into an agreement with Wynn Interactive Holdings to take over their sports betting licence in New York State.
It marks a major strategic deal for newly-launched ESPN BET, PENN’s rebranded sportsbook and sets the stage for the company to challenge FanDuel and DraftKings, US online sports betting market leaders.
The acquisition involves PENN purchasing WSI US, LLC, a subsidiary of Wynn Interactive Holdings, that holds the mobile sports wagering licenses granted by the New York State Gaming Commission in 2021, for US$25 million.
This transaction not only signifies PENN’s entrance into the Empire State iGaming market but also demonstrates its commitment to expanding its online sports wagering offerings.
Wynn Interactive Holdings is part of Wynn Resorts, indicating a significant collaboration between two prominent entities in the iGaming and entertainment industries.
“This is an important development that will bring ESPN BET to the largest regulated online sports wagering market in North America,” said Jay Snowden, PENN Entertainment CEO and President.
“Together with ESPN, we’re building a brand that is synonymous with sports betting, and operating in the New York market is key as we grow ESPN BET across the [nation].”
