Hollywood Casino at Greektown’s sportsbook is to rebrand this April, PENN Entertainment has announced. The company revealed that its Detroit sportsbook will soon become ESPN Bet, the first ESPN BET-branded sportsbook in PENN’s extensive portfolio.
This is a rebrand that’s set to make a huge difference to players. It’ll provide a true omni-channel experience, combining the entertainment value of one of Detroit's top casinos with an engaging sportsbook offering.
PENN Entertainment CEO and President Jay Snowden said, “We’re thrilled to announce that our market-leading sportsbook Hollywood Casino at Greektown will debut as the first ESPN BET-branded sportsbook in our portfolio.
Together with ESPN, we look forward to expanding the ESPN BET brand with our premium retail sportsbooks and creating unique omni-channel experiences at key PENN properties across the country.”
The news comes following the recent sale of Penn Entertainment’s shares in Barstool Sports.
PENN Entertainment purchased a stake in the sports media company back in 2020, and last year the company fully acquired Barstool Sports. But August 2023 saw Barstool’s original founder Dave Portnoy buy the shares back, paving the way for a brand new partnership.
ESPN is already a world-famous multiplatform sports entertainment brand. But as this news shows, it’s about to expand its presence even further with its biggest push into the sports gambling market yet.
Yahoo Finance reports that the PENN Entertainment deal is worth $2 billion. PENN is set to pay ESPN $1.5 billion in cash over the next 10 years. As part of the agreement, ESPN will purchase almost 32 million shares in the company, worth an estimated $500 million.
Mike Morrison, Vice President of ESPN BET and ESPN Fantasy commented, “Growing the ESPN BET brand is essential in increasing our market share and ultimately reaching a podium position.
Our commitment to that shows in a variety of ways from new markets to our first retail presence, and we cannot wait to open ESPN BET inside Hollywood Casino at Greektown for fans in Michigan ahead of some key sporting events.”
PENN Entertainment is a leading provider of sports and casino gaming experiences. The company currently operates 32 retail sportsbooks across its properties in North America. In addition to the rebrand, players can expect to see special events from ESPN regional radio talent at the company’s retail sportsbooks later this year.
