After just two years in the sports betting business, ESPN is pulling the plug on its high-profile partnership with Penn Entertainment. The two sides confirmed the early end of their agreement, which will officially wrap on December 1, 2025. The ESPN Bet app will be rebranded as theScore Bet in the U.S.
Penn had licensed ESPN’s brand and media network in a deal valued at $150 million annually, along with stock warrants. The original agreement was set to last 10 years, but it included an escape clause after year three based on market share performance. That threshold clearly wasn’t met.
“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,” said Penn CEO Jay Snowden. “Although we made significant progress… we have mutually and amicably agreed to wind down our collaboration.”
Snowden added that Penn will now focus on its iCasino business and relaunch its U.S. sportsbook under theScore Bet name, already operating in Canada.
ESPN chairman Jimmy Pitaro said the network helped bring 2.9 million new users to Penn but is now “pursuing other media and marketing opportunities.” The company has since aligned with DraftKings to power the betting tab in its app.
The timing is notable. Just weeks ago, several current and former NBA figures were swept up in a federal betting investigation.
