"Disney is bouncing out of its gambling partnership with Penn Entertainment, the operator behind the crummy ESPN Bet sportsbook platform. The unholy partnership, forged in 2023 between the wheezing multinational entertainment conglomerate and the trumped-up regional racetrack operation, was intended to run through at least 2033, and involved Penn Entertainment agreeing to pay Disney $2 billion in cash and stock warrants. The mismatched partners hoped"
"About one hour after announcing the breakup with Penn Entertainment, ESPN announced a new "multi-year agreement" with DraftKings, the less competent of the two behemoths astride the exploding North American digital gambling industry. Per this second release, on the same day that Disney officially shuts down its ESPN Bet sportsbook, DraftKings will become "the exclusive Official Sportsbook and Odds Provider of ESPN,""
Disney is terminating its gambling partnership with Penn Entertainment, ending ESPN Bet on Dec. 1 after roughly 28 months. The 2023 agreement had been slated to run through at least 2033 and required Penn to pay Disney $2 billion in cash and stock warrants. The contract allowed either party to exit after the third year based on performance benchmarks, and ESPN Bet failed to meet those metrics. About an hour after announcing the breakup, ESPN signed a multi-year deal with DraftKings, naming it the exclusive Official Sportsbook and Odds Provider of ESPN. DraftKings will be promoted across ESPN platforms, including the ESPN App and the ESPN Unlimited streaming product.
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