ESPN BET Acquires New York Sports Betting License from Wynn

• ESPN BET will soon operate in New York after striking a deal with Wynn Interactive for $25 million.
• PENN Entertainment’s ESPN-branded sportsbook currently operates in 17 states.
• Pending regulatory approvals, ESPN BET will launch in New York in 2024.

NEW YORK – ESPN BET is coming to the Big Apple in 2024.

PENN Entertainment announced Tuesday that they acquired WSI US, LLC, from Wynn Interactive Holdings for $25 million. WSI US, LLC is simply the entity holding Wynn Interactive’s New York sports betting licenses that were issued in 2021.

The deal grants PENN Entertainment with New York sports betting market access to launch their betting product, ESPN BET, sometime in 2024. PENN Entertainment and ESPN’s sports betting product launched on Nov. 14 and operates in 17 states.

PENN CEO Embraces Challenge Of NY Sports Betting Market

PENN Entertainment CEO and President Jay Snowden embraced the challenge of joining the largest regulated sport betting market in Tuesday’s statement. Snowden and PENN made multiple attempts to operate in New York since 2021, but finally get their desired market access through Wynn Bet.

“This is an important development that will bring ESPN BET to the largest regulated online sports wagering market in North America,” said Snowden. “Together with ESPN, we’re building a brand that is synonymous with sports betting, and operating in the New York market is key as we grow ESPN BET across the U.S.”

ESPN BET looks to have more success than Wynn Bet in New York. Wynn Bet’s $212.38 million lifetime handle in New York makes up 0.5% of the state’s legal sports betting handle since January 2022.

FanDuel dominates the New York sports betting market with roughly 40% of New York’s all-time handle. Expect plenty of ESPN BET sign-up bonuses and other bonus offers to attract New York players to their sportsbook.

News tags: ESPN BET | FanDuel | Jay Snowden | New York | Penn Entertainment | Wynn Bet | Wynn Interactive