PENN Entertainment to rebrand eight retail sportsbook to ESPN BET

PENN Entertainment announced Thursday that it plans to rebrand eight of its retail sportsbooks to ESPN BET. The upcoming brand conversions, to take place "in sports-centric markets," are expected to further brand connectivity and create cross-sell opportunities between casinos and ESPN BET.   

Each sportsbook features "a premium viewing area and dining options, providing a unique experience for sports fans to be able to keep up with all the action," the company said. 

ESPN BET branded sportsbook at L'Auberge Baton Rouge 

The list of properties that will be rebranded as "ESPN BET Sportsbook" includes: 

Estimated to open in August 2024 

• Hollywood Casino at Kansas Speedway (KS)
• L'Auberge Casino & Hotel Baton Rouge (LA) 
• Plainridge Park Casino (MA) 

Estimated to open in September 2024 

• Hollywood Casino Columbus (OH) 
• Hollywood Casino Perryville (MD) 
• Hollywood Casino Toledo (OH) 
• L'Auberge Casino Resort Lake Charles (LA) 
• Margaritaville Resort Casino Bossier City (LA)

 
The first ESPN BET branded retail sportsbook opened at Hollywood Casino at Greektown in Detroit in April. The debut coincided with the NFL's draft even in Detroit, which took place the same week as the rebranded book's opening.

ESPN Bet went live in November 2023, after Penn cut ties with its former partner Barstool Sportsbook. The 10-year deal to leverage the ESPN brand costs Penn $1.5 billion. The sportsbook is now live in 18 states, with the 19th on the way via New York.

While the brand saw a strong debut in its first months of operations, Penn now struggles to gain meaningful market share in the US. ESPN Bet today is estimated to command just 4% of the legal sports betting market.

In addition to rebranding its retail sportsbooks, Penn is exploring other alternatives to increase its reach. ESPN will start airing ESPN Bet Live on its primary cable channel, a daily program focused on the day’s biggest storylines through the lens of sports betting.

Moreover, ESPN Bet will be integrated into the ESPN Fantasy app, which has 12 million active users. While ESPN Fantasy isn’t owned by Penn, the company hopes this will strengthen ESPN Bet’s operations by converting fantasy players to sports bettors.