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Penn Entertainment Inc. is making a big bet on itself, as it ended on Thursday its exclusive sports-bet deal with ESPN much earlier than scheduled because it believes it has grown enough to go it alone.
The online betting deal with ESPN, announced in August 2023, was for an initial 10-period. That had marked a big step-up for Penn
PENN, as it effectively ended its connection with Barstool Sports, and led to Penn’s selling its entire stake in the media brand to Barstool founder David Portnoy. ESPN is a subsidiary of Walt Disney Co. DIS.