Penn Entertainment has finalized a deal to purchase the New York mobile sports wagering licenses from Wynn Interactive, a move that expands its presence in the US betting market. This $25 million acquisition includes the takeover of WSI US, LLC from Wynn Interactive Holdings, positioning Penn Entertainment to introduce ESPN Bet in New York by 2024, pending approval from regulatory bodies.
The licenses, initially granted by the New York State Gaming Commission in 2021, will now enable Penn to operate in the New York market. Jay Snowden, CEO and President of Penn Entertainment, shared his views on the acquisition: “This is an important development that will bring ESPN Bet to the largest regulated online sports wagering market in North America. Working alongside ESPN, we aim to establish a brand closely linked with sports betting. Gaining a foothold in New York is crucial for us as we expand ESPN Bet’s reach across the US.”