A mutual agreement has been reached between PENN Entertainment and Wynn Interactive Holdings regarding the latter’s assumption of its New York mobile sports wagering certifications. This will facilitate PENN’s access to the regional market. During the interim, the organization intends to introduce its online sports wagering platform, ESPN BET, to the New York market this year.
In accordance with the agreement reached, PENN shall acquire WSI US, LLC from Wynn Interactive Holdings in exchange for $25 million. WSI US, LLC currently holds the certifications for mobile sports wagering acquired from the New York Gaming Commission in 2021. Wynn Interactive is, notably, a subsidiary organization of Wynn Resorts Limited.
As stated by Jay Snowden, the CEO and President of PENN Entertainment, this action will indeed result in ESPN BET establishing a partnership with the largest certified online sports wagering platform in North America. According to him, New York will serve as the ideal launching platform for them to achieve their objective of expanding further into U.S. markets.
PENN Entertainment, in conjunction with its subsidiaries, dominates the North American market. This pertains to providing integrated amusement, including casino gaming, sports-related content exposure, and online sportsbooks. PENN conducts business from 43 properties located in 20 states. It offers online sports betting in eighteen territories, five of which are iCasino territories.
This is all-encompassing within the Hollywood Casino, L’Auberge, ESPN Bet, and Score Bet Sportsbook and Casino umbrella. PENN signed a long-term agreement with ESPN Inc. and ESPN Enterprises, Inc. in August 2023. By capitalizing on the opportunities presented by leading sports media organizations in the United States and Canada, PENN can expand its operations significantly and achieve remarkable success. Automatically, the customer ecosystem will expand further.
Additionally, the organization is renowned for its customer loyalty program, PENN Play, which provides exclusive benefits and exceptional visibility to its 27 million members.
