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ESPN Shifts Sports-Betting Partnership from PENN to DraftKings Amid Market Competition

ESPN Shifts Sports-Betting Partnership from PENN to DraftKings Amid Market Competition

Author:

Global Cryptocurrency

Published:

2025-11-06 19:00:02

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BTCCSquare news:

ESPN terminated its $1.5 billion deal with PENN Entertainment after the sportsbook failed to meet market share targets, swiftly pivoting to DraftKings as its new partner. The MOVE underscores the ferocious rivalry in the U.S. sports-betting sector, where DraftKings and FanDuel dominate. PENN shares fell 6% on the news, while DraftKings gained marginally.

The terminated ESPN-PENN agreement, signed in August 2023, included a performance clause allowing early termination if market share thresholds weren't achieved. "We're exploring new opportunities in this space," said ESPN Chairman Jimmy Pitaro, signaling ongoing strategic realignments in the rapidly evolving gambling landscape.

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