ESPN BET Now Live in Washington, D.C.

Rhea-AI Summary

PENN Entertainment has announced the launch of ESPN BET in Washington, D.C., marking its 20th U.S. jurisdiction. The platform offers a comprehensive mobile and web betting experience featuring various sports markets, odds boosts, profit boosts, featured parlays, and live betting markets.

The platform includes unique features such as account linking between ESPN BET and ESPN accounts, allowing users to track bets across ESPN platforms. PENN secured market access through a partnership with Monumental Sports & Entertainment, making ESPN BET an official sports betting partner of the Washington Capitals, Wizards, and Mystics.

The service is available on iOS, Android, and web platforms, incorporating responsible gaming tools including limits on time, deposits, and wagering amounts.

Positive

• Expansion into 20th U.S. jurisdiction, strengthening market presence
• Strategic partnership with Monumental Sports & Entertainment securing access to DC market
• Integration with ESPN platform enhancing user experience through account linking feature

Negative

• None.

Insights

Sports Betting Industry Analyst

The launch of ESPN BET in Washington D.C. represents more than just PENN's 20th market entry - it's a strategically important expansion that deserves careful analysis. The D.C. market, while relatively small with a population of about 670,000, carries outsized importance for three key reasons:

First, the partnership with Monumental Sports & Entertainment provides valuable access to the Capitals, Wizards and Mystics fanbases, creating built-in marketing channels and potential for in-venue activation. This is particularly valuable given D.C.'s unique regulatory environment where mobile betting is restricted to within approved venues.

Second, establishing presence in the nation's capital offers PENN strategic advantages beyond pure revenue potential. It positions the company closer to regulatory decision-makers and industry lobbying efforts, which is important as federal sports betting legislation continues to evolve.

The platform's ESPN integration features demonstrate the technical execution of PENN's media-first strategy. The account linking capability between ESPN and ESPN BET creates a seamless user experience that competitors can't replicate, potentially reducing customer acquisition costs and improving retention rates. This is particularly important in a market where DraftKings, FanDuel and Caesars already have established presence.

However, investors should note that D.C.'s sports betting market has historically underperformed expectations, with monthly handle typically ranging between $10-15 million, significantly lower than neighboring states. The success of ESPN BET here will largely depend on its ability to leverage the ESPN brand and Monumental partnership to capture market share from entrenched competitors.

Looking ahead, this expansion completes PENN's presence in the entire DMV (D.C., Maryland, Virginia) region, creating operational efficiencies and cross-market promotional opportunities. While the immediate revenue impact may be modest, the strategic value of the D.C. presence extends beyond direct financial returns.

WYOMISSING, Pa.--(BUSINESS WIRE)-- PENN Entertainment, Inc. (“PENN” or the “Company”) (Nasdaq: PENN) is pleased to announce that ESPN BET has launched in Washington, D.C. ESPN BET, the official sportsbook of ESPN, is now live in 20 U.S. jurisdictions.

Fans in the District now have access to the state-of-the-art mobile and web betting platform, which offers a variety of markets across sports and leagues from around the world, along with daily odds boosts, profit boosts, featured parlays, live betting markets, custom offers, exclusive promotions and integrations with ESPN content and personalities.

“We’re thrilled to launch ESPN BET in our nation’s capital and expand our presence across the Washington metropolitan area,” said Aaron LaBerge, Chief Technology Officer, PENN Entertainment. “Along with our partner ESPN, we’re excited to introduce our deeply integrated media and betting experience and further engage with the D.C. area’s passionate sports community.”

ESPN BET offers a unique account linking feature that allows fans to link their ESPN BET and ESPN accounts to seamlessly track upcoming, live and settled bets within the ESPN app and on ESPN.com. Account linking can be accessed either via a prompt within the ESPN BET app or by visiting settings within the latest versions of the ESPN BET or ESPN apps or ESPN.com.

PENN secured market access in Washington, D.C. through a deal with Monumental Sports & Entertainment. The deal also designates ESPN BET as a proud sports betting partner of Monumental and its teams, the Washington Capitals, Wizards and Mystics.

ESPN BET is available for mobile wagering on iOS and Android, and via web at www.ESPNBET.com.

PENN and ESPN are committed to providing a safe environment for all customers to enjoy gaming responsibly. ESPN BET offers comprehensive Responsible Gaming tools and resources, including limits on time, deposits, and wagering amounts. To learn more, visit espnbet.com/rg.

Must Be 21+. Gambling problem? Call or text 1-800-GAMBLER.

About PENN Entertainment
PENN Entertainment, Inc., together with its subsidiaries (“PENN,” or the “Company”), is North America’s leading provider of integrated entertainment, sports content, and casino gaming experiences. PENN operates in 28 jurisdictions throughout North America, with a broadly diversified portfolio of casinos, racetracks and online sports betting and iCasino offerings under well-recognized brands including Hollywood Casino®, L’Auberge®, ESPN BET™ and theScore BET Sportsbook and Casino®. PENN’s ability to leverage its partnership with ESPN, the “worldwide leader in sports,” and its ownership of theScore, the top digital sports media brand in Canada, is central to the Company’s highly differentiated strategy to expand its footprint and efficiently grow its customer ecosystem. PENN’s focus on organic cross-sell opportunities is reinforced by its market-leading retail casinos, sports media assets, and technology, including a proprietary state-of-the-art, fully integrated digital sports and iCasino betting platform and an in-house iCasino content studio (PENN Game Studios). The Company’s portfolio is further bolstered by its industry-leading PENN Play™ customer loyalty program, offering its 31 million members a unique set of rewards and experiences.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250121304157/en/

Media:

Dan Sabreen, PENN Entertainment, dan.sabreen@pennentertainment.com

Source: PENN Entertainment, Inc.

FAQ

When did ESPN BET launch in Washington DC?

PENN Entertainment has just launched ESPN BET in Washington, D.C., making it the 20th U.S. jurisdiction where the platform operates.

What features does ESPN BET offer to Washington DC users?

ESPN BET offers various markets across sports leagues, daily odds boosts, profit boosts, featured parlays, live betting markets, custom offers, exclusive promotions, and ESPN content integrations.

Which teams are included in PENN's partnership with Monumental Sports?

Through the partnership, ESPN BET becomes a sports betting partner of the Washington Capitals, Wizards, and Mystics teams.

What responsible gaming measures does ESPN BET implement?

ESPN BET provides responsible gaming tools including limits on time, deposits, and wagering amounts, along with resources for safe gaming practices.

How does the ESPN BET account linking feature work?

Users can link their ESPN BET and ESPN accounts to track upcoming, live, and settled bets within the ESPN app and ESPN.com through prompts in the ESPN BET app or settings.