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Sports
July 18, 2024
PENN Entertainment Outlines Layoffs in Penn Interactive
Much criticism has been heard about PENN Entertainment CEO Jay Snowden’s managerial style. From vituperations against his cushy pay package to fulminations over the incredulous sale of the Barstool Brand for $1 back to its controversial owner, David Portnoy, after forking out millions to acquire it, now PENN is preparing to lay off staff in […]
Industry
June 18, 2024
JMP: DraftKings Cannibalized Fanatics’ Market Share in May
Equity research specialist JMP Securities has published its US sports betting report for May, outlining slight market changes. According to the firm, DraftKings’ market share soared that month, although the company was still unable to surpass FanDuel. As data from Indiana, Iowa, Maine, Maryland, New Jersey, New York and Kansas shows, operators recorded a 72% […]
Business
April 25, 2024
ESPN BET Launches First Retail Sportsbook at Hollywood Casino
The Hollywood Casino at Greektown has unveiled its ESPN BET-branded sportsbook and restaurant. This is notably ESPN BET’s first-ever branded retail location. Located on the upper floor of the 100,000-square-foot Downtown Detroit casino, the new sportsbook is the latest addition to PENN Entertainment’s portfolio. The ESPN BET sportsbook and restaurant offers some 4,500 square feet […]
Business
April 16, 2024
ESPN Bet’s Underperformance Causes Analyst to Lower Penn’s Price Target
In a recent development impacting the stock market, Penn Entertainment saw a downgrade in its price target by Deutsche Bank analyst Carlo Santarelli. The analyst revised the target down to $19 per share from the previous $22, maintaining a “Neutral” rating. This alteration came in the wake of a turbulent trading day where Penn Entertainment’s […]
Sports
March 26, 2024
ESPN Host Calls Betting Pick “Risk-Free,” Sparks Online Outrage
Rece Davis, an American sports television journalist for ESPN, has corrected a controversial statement he made last weekend. Davis, who had said that an analysts’ betting recommendation is a “risk-free investment,” retracted his earlier statement, reminding players to wager responsibly. The original comment was made during College GameDay, a pre-game show broadcast airing on ESPN […]
Sports
March 22, 2024
ESPN Men’s Tournament Challenge Collects a Record Number of Brackets
This year’s edition of the ESPN Men’s Tournament Challenge has collected 22.6 million completed brackets before the start of March Madness, ESPN announced. This is a new record-setting figure for the highly popular college basketball bracket game. According to ESPN’s official announcement, the new number of brackets represents an increase of 13% compared to last […]
Business
March 15, 2024
Penn Entertainment’s CEO Celebrates the Success of ESPN BET
In mid-November, ESPN BET, the newest sportsbook at the time that is the result of a transformation of Barstool Sportsbook, officially launched in 17 US states. The launch came after an agreement between ESPN and Penn Entertainment that paved the way for the new exclusive sportsbook that promised exceptional betting experiences. The entry of ESPN […]
Sports
January 12, 2024
Penn’s ESPN Bet App Outperforms Barstool in Wagers and Market Share
Penn Entertainment Inc.’s ESPN Bet sports-betting app is seeing a surge in wagers, surpassing the performance of its former Barstool brand, according to industry analysts and state data. Penn’s Success Is Unveiled in Maryland and Iowa Betting Spree Maryland reported a significant spike in mobile wagers on ESPN Bet, reaching $42.4 million in December compared […]
Business
December 21, 2023
Michigan Betting Handle Sets Record in November amid ESPN Bet Launch
Earlier this week, the gambling regulator in Michigan, the Michigan Gaming Control Board (MGCB), released its latest report, uncovering details regarding the performance of commercial and tribal online gambling and betting operators. In total, gross receipts from sports betting and online gambling hit $209.2 million in November, representing a 1,9% increase when compared to the […]
Sports
December 19, 2023
Massachusetts Collects Record $654.4M in November
This is the third largest for the nation in the month at the time of writing with the Bay State overtaking Maryland’s $550.7 million by a considerable margin and landing a long way behind New York which raked in $2.12 billion in total wagers placed, and New Jersey with its $1.62 billion in wagers. The […]
