Newscasts - ESPN taps DraftKings as sports-betting partner

PENN Entertainment

06/11/2025 18:54

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Source: 'Reuters - Business videos'

Description: ESPN signed a new deal making DraftKings its official betting site and odds provider, after ending a U.S. online sports betting partnership with casino operator PENN Entertainment. Lisa Bernhard has more.

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Video Transcript:

ESPN on Thursday signed a new multi-year deal with DraftKings, making it the network’s official betting site. The move comes just hours after ESPN and casino operator Penn Entertainment cut short their 10-year deal signed in August 2023. Under that agreement, ESPN got $150 million annually and warrants for Penn stock in exchange for marketing services and exclusive rights to the ESPN Bet brand in the US. That app will now be rebranded as theScore Bet and remain under Penn’s ownership. Starting in December, DraftKings’ sportsbook and daily fantasy contests will be integrated across ESPN’s platforms, including its streaming service. Users will see a dedicated betting tab inside the ESPN app, and DraftKings will promote ESPN’s new streaming offering to its own customers. ESPN and DraftKings declined to disclose the financial terms of the new partnership. Shares of DraftKings rose more than 3.5% Thursday after the deal’s announcement.