ESPN Bet plans launch in New York, the largest U.S. betting market
Publishing timestamp: 2024-02-13 14:40:50
Summary
Penn Entertainment is buying Wynn Interactive's mobile sports betting license in New York for $25 million. Penn's sportsbook ESPN Bet has been gaining market share in states where it operates. The company will pay Wynn Resorts the same amount they paid New York state for the license. Penn had previously missed out on a license in New York, but now has the opportunity to compete in the largest sports betting market in the nation.
Sentiment: NEUTRAL
Tickers: DKNG, WYNN, FLTR-GB, PENN,
Keywords: sports, business news, draftkings inc, penn entertainment inc, new york, wynn resorts ltd, flutter entertainment plc, sports betting,
Source: https://www.cnbc.com/2024/02/13/espn-bet-plans-launch-in-new-york-the-largest-us-betting-market.html