ESPN introduces account linkings with Penn’s ESPN Bet
A worldwide basic cable sports channel, ESPN introduces account linking options for customers in partnership with Penn Entertainment's latest addition, ESPN Bet.ESPN.com...
Penn Entertainment reports declines in Q3 revenues
An American entertainment corporation operating casinos, sports programming, and integrated entertainment, Penn Entertainment, shared its Q3 results, highlighting the $90.9 million EBITDA loss.
Penn Entertainment faced nearly double last year’s $50.2 million loss, $90.9 million, reflecting the ongoing cost of growth in a competitive market. Penn’s regional casino operations also saw a decline with $1.4 billion revenues, which are down 1.9% year-on-year, impacted by weather-related disruptions and hotel renovations.
ESPN BET
Penn Entertainment’s latest addition, ESPN Bet, remains the biggest contributor to the company’s earnings. On October 30, Penn introduced a new feature allowing account linking between its mobile app and ESPN, aiming to provide a more personalized betting experience within the ESPN system.
Penn CEO Jay Snowden said:
“We remain focused on database growth and driving engagement through new technology, continued investment in our gaming and non-gaming offerings, and local and national partnerships related to our food and beverage offerings. Cross-sell opportunities from our ESPN Bet customers remain a key growth driver for us, as our Penn Play database has grown to approximately 31 million members, including 3.8 million in our digital database, which is an increase of more than 80% since the launch of ESPN Bet.”
In Q3, Penn generated $244.6 million from its interactive sector, which is an increase of 24.6% when compared to 2023 and an increase of 5% when compared to Q2 2024.
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