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May 6, 2024
ESPN Bet isn’t even six months old yet, but with the biggest sports gambling events of the first half of the year having yet to produce a major boost for the platform, a crucial summer lies ahead for the product and brand born out of a $2 billion partnership between Disney and Penn Entertainment.
Last week, Penn’s stock tumbled more than 10% and, at one point reached a 52-week low, after the company missed analyst estimates in its most recent quarter, due in part to struggles by ESPN Bet, which saw lower-than-expected hold and spend per user.
Source: Front Office Sports
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