Gambling Clear News
As activist investors are pushing Penn Entertainment to divest its digital gaming arm, The Deal is reporting Flutter and Boyd Gaming may partner on a deal. 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% midday Friday
Industry analysts at Barclays and Deutsche Bank have flagged various challenges in Boyd’s potential bid for Penn Entertainment, including Penn’s complex ESPN Bet deal with Disney and the product being seen as undervalued by the market. Reuters reported today (21 June) that US casino operator Boyd Entertainment has presented Penn with a takeover bid that valued the
ESPN Bet could soon challenge US market leaders Draftkings and FanDuel according to Truist’s nationwide survey focused on consumer preferences. Data collected by Truist Securities analysts in their 2024 Interactive Gaming Survey shows that Penn Entertainment’s ESPN Bet gaming brand has the potential to take on the big two. According to Truist, it is ESPN’s
Penn Entertainment has agreed to acquire Wynn Interactive Holdings’ New York sports betting licences, clearing the way for Penn to launch ESPN Bet in the state in 2024. The acquisition gives Penn market access in New York state. As part of the deal, Penn will acquire Wynn Resorts subsidiary Wynn Interactive’s mobile sports wagering licences
Chris Rogers, chief strategy officer at Penn Entertainment, has outlined how Penn and ESPN will operate the highly-anticipated ESPN Bet in Massachusetts. Rogers presented the operating plan during a public meeting of the Massachusetts Gaming Commission (MGC) on 7 November. The meeting was held to review Penn Entertainment’s divesture of Barstool and its $1.5bn deal
