PENN Entertainment Ends ESPN Pact, Rebrands to theScore Bet
PENN Entertainment, Inc. (Nasdaq: PENN) reported its financial results for the three and nine months ending September 30, 2025. The company announced an early termination of its U.S. online sports betting (OSB) partnership with ESPN, effective December 1, 2025, accompanied by a strategic shift in its digital focus.
Financial Highlights Q3 2025
- Revenue: $1,717.3 million
- Adjusted EBITDA: $194.9 million
- Net loss: $865.1 million
- Share buybacks year-to-date: $354.4 million
- New buyback program of $750 million commencing in 2026
Termination Agreement Details
The agreement ends PENN’s OSB marketing exclusivity with ESPN on December 1, 2025. This decision follows mutual consent between both parties to wind down their collaboration amicably.
CEO’s Statement
“When we first announced our partnership with ESPN, both sides made it clear that we expected to compete for a podium position in the space. Although we made significant progress in improving our product offering and building a cohesive ecosystem with ESPN, we have mutually and amicably agreed to wind down our collaboration.” — Jay Snowden, CEO and President, PENN Entertainment
“PENN’s unique omnichannel strategy is anchored in a diverse portfolio of market-leading regional casinos and a complementary digital business. We are realigning our digital focus to leverage the strength of our U.S.” — Jay Snowden
Summary
PENN Entertainment is shifting its digital strategy after ending its partnership with ESPN, focusing on strengthening its omnichannel offerings through regional casinos and a refined digital presence.
Author’s summary: PENN Entertainment ends its ESPN online sports betting alliance and refocuses digitally, leveraging its regional casino strength and launching a new buyback program in 2026.