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ESPN Bet plans launch in New York, the largest U.S. betting market - TL;DR CNBC

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: DKNGWYNNFLTR-GBPENN

Keywords: sportsbusiness newsdraftkings incpenn entertainment incnew yorkwynn resorts ltdflutter entertainment plcsports betting

Source: https://www.cnbc.com/2024/02/13/espn-bet-plans-launch-in-new-york-the-largest-us-betting-market.html


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