In 2022 then Disney CEO Bob Chapek said that the company would be moving into the world of sports betting. It cannot be understated how much money the world of sports betting brings in through apps such as Draft Kings and Fan Duel. With Disney being so strapped for cash it isn’t surprising that they would attempt this avenue. 
Now a little over a year later, it has been announced that ESPN (a Disney subsidiary) will be partnering with casino/sports betting company PENN Entertainment to produce ESPN BET. The application will act as PENN Entertainment’s official sportsbook.
The partnership between the two entities comes as a bit of a surprise as recently rumors about Disney selling off ESPN have been spreading. But now this deal seems to throw a wrench into that particular rumor.
ESPN Chairman Jimmy Pitaro made a statement following the announcement:
“Our primary focus is always to serve sports fans and we know they want both betting content and the ability to place bets with less friction from within our products. The strategy here is simple: to give fans what they’ve been requesting and expecting from ESPN. PENN Entertainment is the perfect partner to build an unmatched user experience for sports betting with ESPN BET.“
PENN Entertainment CEO & President Jay Snowden also said:
“This agreement with ESPN and collaboration on ESPN BET allows us to take another step forward as an industry leader. Together, we can utilize each other’s strengths to create the type of experience that existing and new bettors will expect from both companies, and we can’t wait to get started.”
The rebrand of the PENN Entertainment sportsbook will be launched this fall and will take effect within the 16 states that PENN Entertainment is licensed. We are most likely to see promotions regarding Disney’s sports partners, such as the XFL.
What do you think about Disney entering the world of sports betting?
Source: WDWNT
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