ESPN BET will shut down Dec. 1 after operator PENN Entertainment and branding partner ESPN announced Thursday they have terminated their partnership.
PENN’s online division reported more than $1 billion in adjusted earnings losses before interest, taxes, depreciation, amortization, and restructuring in the two years it operated ESPN BET.
The terminated partnership ends a two-year push to integrate the best-known name in American sports media with a fledgling sportsbook. After announcing the deal in August 2023 with intentions to capture 20% market share, ESPN BET ends operations with a projected 3% share nationwide.
ESPN BET’s struggles come as FanDuel and DraftKings secured more than 30% market share apiece.
“When we first announced our partnership with ESPN, both sides made it clear that we expected to compete for a podium position in the space,” PENN CEO Jay Snowden said in a statement announcing the partnership’s end. “Although we made significant progress in improving our product offering and building a cohesive ecosystem with ESPN, we have mutually and amicably agreed to wind down our collaboration.”
Disney and DraftKings announced a sports betting partnership deal moments after the PENN affiliation termination was released.
ESPN & @DraftKings enter a multi-year agreement
— ESPN PR (@ESPNPR) November 6, 2025
DraftKings will become the Official Sportsbook & Odds Provider of ESPN
Details: https://t.co/1Vx55jBbBc pic.twitter.com/8m9kcEFRjl
New push with theScore
PENN will try again to steady its digital gaming arm under its in-house theScore brand.
The company announced it will launch theScore Bet in its 20 live U.S. jurisdictions on Dec. 1. PENN paid $2 billion for Ontario-based theScore media assets and its in-house sports betting tech platform in 2021. The sportsbook has since been among the market share leaders in Ontario.
PENN also operates Hollywood iCasino, which the company said it will continue to promote alongside theScore Bet.
TheScore Bet push in the U.S. will be PENN’s third attempt at an American sports betting brand. The company acquired Barstool Sports for $551 million in 2020 largely to use the media company’s branding for its sports betting platform.
After Barstool Sportsbook secured low single-digit market share, PENN sold Barstool back to founder Dave Portnoy for $1 in 2023.
PENN doubled down on sports betting with the ensuing 10-year ESPN partnership that saw PENN operate the sportsbook under the branding of the “Worldwide Leader in Sports.” PENN was to pay Disney $150 million a year for ESPN branding with the ability for either side to opt out in the third year.
The sportsbook's poor performance led the two sides to mutually end the deal in year two.
This is a breaking story that will be updated
