The New York State Gaming Commission voted on Monday (September 23) to transfer the Wynn Resorts digital sports betting license to Penn Entertainment, giving ESPN Bet the green light to accept sports wagers in the state.
ESPN Bet is an American sportsbook and online betting service. Penn Entertainment is the parent company that also runs the Score Bet, online gaming apps Penn Play Casino and Hollywood Casino, as well as casinos like Boomtown, Cactus Petes, and more.
While the state of New York only accepts nine digital wagering licenses at one time, with all nine accounted for at the beginning of the year, WynnBet exited the state in July.
In February when Penn Entertainment made a deal to buy WynnBet’s NY license for $25 million.
The companies came to an agreement which was announced through a press release, where the CEO and President of the company Jay Snowden said: “This is an important development that will bring ESPN BET to the largest regulated online sports wagering market in North America.
“Together with ESPN, we’re building a brand that is synonymous with sports betting, and operating in the New York market is key as we grow ESPN BET across the U.S.”
It was this week when the Gaming Commission voted unanimously to approve the acquisition.
ESPN Bet launch in New York could happen very soon
Matter is unanimously approved. https://t.co/oPmw7Tf8HN
— NYSGamingCommission (@NYSGamingComm) September 23, 2024
In a statement to Action Network, a Penn spokesperson said: “We’re grateful to the New York State Gaming Commission for its approval and we’re in the process of readying our product for launch in New York in the coming days.”
A specific date hasn’t yet been shared for when ESPN Bet will officially launch in the state.
This marks the first time Penn will have successfully entered the New York market after it attempted to do so in 2021 when it applied through its former sports betting partnership with Barstool Sports.
Featured Image: Via Ideogram
