Sports betting platform ESPN Bet debuts in New York and Pennsylvania under a $25 million partnership with Wynn Resorts.
Penn Entertainment, a leading name in the US gaming industry, has made a strategic move by acquiring Wynn Resorts' New York sports betting licenses for $25 million. This expansion into the United States marks ESPN Bet's entry into the New York market.
Jay Snowden, Penn's CEO and president, has stated that operating in the New York market is crucial for the growth of ESPN Bet. He believes that the entry of ESPN Bet into the New York market is key as they grow the brand across the US.
Snowden has also emphasised that ESPN Bet is being built to be synonymous with sports betting. According to him, the acquisition is a strategic move to strengthen Penn's position in the US sports betting market.
The acquisition does not include any physical properties or land-based casinos. It grants Penn access to the mobile sports betting market in New York, enabling ESPN Bet to join the existing nine online sports betting brands in the state, including DraftKings, FanDuel, Caesars, and BetMGM.
If approved, ESPN Bet will launch in New York, pending regulatory approvals. The regulatory approvals are subject to the New York State Gaming Commission, which enforces a legal betting age of 21 and imposes restrictions on advertising and deposit limits intended to encourage responsible gambling.
New York’s sports betting market is regulated by the New York State Gaming Commission, which has recently implemented or considered bills enhancing restrictions on sportsbook advertisements and deposit limits (as of April 2025).
ESPN Bet leveraged the licenses attributed to Penn Entertainment’s acquisition of Wynn Resorts' licenses, allowing for a relatively swift market presence without the need for new licensing or a separate launch timeline beyond the regulatory approval in late 2024.
As of mid-2025, ESPN Bet is listed as an active sportsbook option for New York bettors. The sportsbook's regulatory approval on September 23, 2024, marked the official eligibility for launch in New York, with ongoing operation under Penn Entertainment’s licensed framework.
In summary, ESPN Bet’s regulatory approval on September 23, 2024, marked the official eligibility for launch in New York, with ongoing operation under Penn Entertainment’s licensed framework, and entry aligned with the state’s regulatory and legislative environment shaping responsible sports betting activities by mid-2025.
The acquisition of Wynn Resorts' New York sports betting licenses by Penn Entertainment is a strategic move to expand ESPN Bet's presence in the US sports betting market. With the regulatory approval secured, ESPN Bet can leverage technology to offer sports betting services, joining existing brands in New York's growing sportsbook landscape.
