PENN Entertainment CEO Jay Snowden said today that will launch in 16 states by the middle of the NFL season, certainly before Thanksgiving, and the new deal will allow PENN to expand its offerings into other states that balked at their previous Barstool Sports partnership.
Snowden during a PENN Entertainment Q2 2023 earnings call today that a 5% sports betting market share would no longer be acceptable and the company is planning an increased promotional spend to meet expectations. The push will begin in the initial 16 states PENN is licensed for sports betting after their regulatory bodies approve the rebrand and partnership.
But will a rebranding be as easy as expected? What regulatory hurdles will ESPN, PENN Entertainment, and ESPN BET face as it moves towards an NF…