A juggernaut media company is out of the gambling biz and here's a peek at a new biz that's even more conflicted than a very successful & savvy guy who writes conservative fart jokes on the Internets . . .
"As part of the deal, the companies will launch a branded sportsbook, ESPN BET, this fall in the 16 states where PENN currently operates mobile sportsbooks. PENN will pay ESPN $1.5 billion over the next 10 years while granting ESPN warrants to purchase 31.8 million shares of PENN worth $500 million, which will vest over the same period."
Read more via www.TonysKansasCity.com link . . .
ESPN, PENN Entertainment strike $2 billion sports betting deal, Dave Portnoy buys back Barstool Sports
ESPN and PENN Entertainment struck a landmark sports betting deal on Tuesday that will see the Worldwide Leader in Sports join the sports betting space, with PENN also announcing it sold Barstool Sports back to its founder, Dave Portnoy.
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