News Brief
Summary
Disney’s ESPN is ending its sports betting partnership with Penn Entertainment years ahead of schedule and has signed a new exclusive agreement with DraftKings, effective December.
Key Points
- Partnership Change: ESPN terminates its deal with Penn Entertainment and names DraftKings as its new exclusive sportsbook and odds provider.
- Effective Date: Both changes take effect in December 2024.
- Strategic Rationale: ESPN aims to offer an integrated betting experience for sports fans and grow its direct-to-consumer business.
- Previous Deal: The 2023 agreement with Penn allowed for early termination if specific market share thresholds were not met. The partnership is ending after just two years.
- Financial Impact: Penn’s $150 million annual payments to ESPN and related stock warrants will cease in Q4.
- Rebranding: Penn’s sportsbook, previously rebranded as ESPN Bet, will now become theScore Bet.
新闻简报
总结
迪士尼旗下ESPN提前数年结束了与Penn Entertainment的体育博彩合作，并与DraftKings签署了新的独家协议，该变更将于12月生效。
关键点
- 合作伙伴变更： ESPN终止了与Penn Entertainment的合作，并指定DraftKings为其新的独家官方体育博彩和赔率提供商。
- 生效日期： 两项变更均于2024年12月生效。
- 战略原因： ESPN旨在为体育迷提供一体化的博彩体验，并发展其直接面向消费者的业务。
- 先前协议： 2023年与Penn的协议规定，若未达到特定的市场份额目标，任何一方均可提前终止合作。该伙伴关系在仅两年后即告结束。
- 财务影响： Penn向ESPN支付的每年1.5亿美元款项及相关认股权证将在第四季度终止。
- 品牌重塑： Penn的体育博彩平台，此前已更名为ESPN Bet，现在将再次更名为theScore Bet。
Original Article Link: https://www.cnbc.com/2025/11/06/disneys-espn-penn-entertainment-to-wind-down-espn-bet.html