PENN Entertainment Launches theScore Bet
PENN Entertainment officially transitioned its U.S. sports betting operations to theScore Bet. This follows the immediate termination of the company’s partnership with ESPN on December 1. PENN has abandoned the expensive external licensing model used for ESPN BET to focus on its own proprietary technology and branding.
Unifying the North American Platform
The rebrand creates a single identity for PENN across the continent. The company already operates theScore Bet successfully in Ontario, Canada.
By bringing this brand to the United States, PENN unifies its operations under one banner. This change allows the operator to control its own destiny without relying on third-party media rentals.
This transition coincided with a major regulatory event. Missouri launched its legal sports betting market on December 1. Players in that state gained immediate access to theScore Bet rather than the defunct ESPN product. PENN also retained the digital database built during the previous two years.
Approximately 2.9 million user accounts from the ESPN partnership are migrating to the new ecosystem. This gives the rebranded platform a significant starting player base.
The Cost of the Failed ESPN Experiment
The shift to an internal brand comes after a costly struggle. PENN originally signed a 10-year, $1.5 billion agreement to use the ESPN name.
The deal ended after roughly two years due to poor performance. PENN targeted a market share between 10% and 20% but only achieved about 3%. The annual cost of $150 million for branding rights became a financial burden without the necessary growth in user activity.
Investors drove this change. Activist firm HG Vora criticized the board for destroying value through expensive digital experiments like Barstool Sportsbook and ESPN BET.
The company spent billions with little return. To finalize the split, PENN agreed to a one-time exit fee of $38.1 million. This allows the company to stop the financial bleeding and focus on profitability.
Tech Integration and Casino Strategy
The new approach relies on deep integration between betting and media owned entirely by PENN. The betting app now connects directly with theScore media app, which services 4 million monthly users.
Aaron LaBerge, Chief Technology Officer at PENN, stated the goal is to create “the same fan connection with theScore Bet brand in the U.S. as we’ve done in Ontario.”
The business model also shifts focus toward the higher-margin online casino sector. Sports betting will serve as an entry point to acquire customers for Hollywood iCasino.
This product remains available as a standalone app or integrated within theScore Bet where laws permit.
Jay Snowden, CEO of PENN, noted that their sports betting product provides a “top of funnel cross-sell opportunity for our Hollywood-branded iCasino.” This strategy prioritizes actual revenue generation over chasing market share at any cost.
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