PENN Entertainment Announces Partnership with Monumental Sports & Entertainment for Market Access in Washington, D.C.
ESPN BET Becomes Proud Sports Betting Partner across entire Monumental enterprise, including the Washington Capitals, Washington Wizards, and Washington Mystics
PENN Entertainment, Inc. ("PENN" or the "Company") (NASDAQ:PENN) announced today that its wholly-owned subsidiary PENN Sports Interactive, LLC has entered into a long-term partnership with Monumental Sports & Entertainment (MSE). Under the multi-channel agreement, and subject to regulatory approvals, PENN secures online market access for ESPN BET in Washington D.C., and ESPN BET also becomes a sports betting partner of Monumental and its teams, including the Washington Capitals (NHL), Washington Wizards (NBA), and Washington Mystics (WNBA).
"We are thrilled to join forces with PENN Entertainment and align with ESPN BET, a leading brand across the sports and entertainment landscape," said Jim Van Stone, President of Business Operations and Chief Commercial Officer at MSE. "This partnership furthers our collective commitment to offering fans unique, cutting-edge experiences that reflect the future of sports entertainment, with ESPN BET's innovative platform adding a new layer of engagement for our fans, both inside and outside the arena."
"We are proud to partner with Monumental Sports and its teams to unite the energy of D.C. sports with our world-class platform," said Aaron LaBerge, Chief Technology Officer, PENN Entertainment. "This deal expands our footprint in the region, further connecting ESPN BET with one of America's most passionate sports communities. Our presence alongside the Capitals, Wizards and Mystics positions ESPN BET at the center of the action where sports, technology, and fan experience converge."
As part of the agreement, ESPN BET will work closely with MSE to enhance the fan experience through a multi-channel, integrated marketing partnership. The collaboration will include prominent in-arena and media components, including features in Capitals and Wizards game broadcasts on Monumental Sports Network (MNMT). In addition to custom broadcast integrations, the partnership provides:
- IP Rights for MSE, Capitals, Wizards, and Mystics for both ESPN BET and Hollywood Casino at Charles Town Races
- In-Arena and TV-Visible Signage
- Out-of-Home Advertising
- Commercial Schedule across Monumental Sports Network
- Unique Hospitality and Experiences
Both MSE and PENN support the American Gaming Association's Have A Game Plan.® Bet Responsibly.™ campaign, designed to ensure fans remain educated and equipped with tools to enjoy gaming in a responsible manner. MSE has dedicated a variety of assets and resources to promoting responsible gaming including media coverage on MSE's efforts, organic and amplified social media posts across all MSE social channels and in-arena digital displays, and commercials to consistently message fans outside the arena, on concourses, near concession areas, and in the center hung and ribbon boards while fans are in their seats.
PENN is committed to providing a safe environment for all customers to enjoy gaming responsibly. ESPN BET offers players comprehensive Responsible Gaming tools and resources, including limits on time, deposits, and wagering amounts. To learn more, visit www.pennentertainment.com/corp/responsible-gaming.
ESPN BET is an online sportsbook operated by PENN Entertainment that combines ESPN's industry-leading brand and multiplatform reach with PENN Entertainment's proprietary in-house technology and deep sportsbook operational expertise. ESPN BET is currently available in 19 states.
Gambling problem? Call 1-800-GAMBLER or visit www.1800gambler.net. Must be 21 or older to play.
About Monumental Sports & Entertainment
Monumental Sports & Entertainment is one of America's leading sports and entertainment families. Our people, players, teams, and events bring excitement and joy to millions. We invest and innovate to consistently raise the game so we can deliver extraordinary experiences that will inspire and unite our community, our fans, and our people.
About PENN Entertainment
PENN Entertainment, Inc., together with its subsidiaries ("PENN," or the "Company"), is North America's leading provider of integrated entertainment, sports content, and casino gaming experiences. PENN operates in 26 jurisdictions throughout North America, with a broadly diversified portfolio of casinos, racetracks and online sports betting and iCasino offerings under well-recognized brands including Hollywood Casino®, L'Auberge®, ESPN BET™ and theScore BET Sportsbook and Casino®. PENN's ability to leverage its partnership with ESPN, the "worldwide leader in sports," and its ownership of theScore, the top digital sports media brand in Canada, is central to the Company's highly differentiated strategy to expand its footprint and efficiently grow its customer ecosystem. PENN's focus on organic cross-sell opportunities is reinforced by its market-leading retail casinos, sports media assets, and technology, including a proprietary state-of-the-art, fully integrated digital sports and iCasino betting platform and an in-house iCasino content studio (PENN Game Studios). The Company's portfolio is further bolstered by its industry-leading PENN Play™ customer loyalty program, offering its 31 million members a unique set of rewards and experiences.
Forward Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward-looking terminology such as "expects," "believes," "estimates," "projects," "intends," "plans," "goal," "seeks," "may," "will," "should," "look forward to," or "anticipates" or the negative or other variations of these or similar words, or by discussions of future events, strategies or risks and uncertainties. These statements are based upon management's current expectations, assumptions and estimates and are not guarantees of timing, future results, or performance. Therefore, you should not rely on any of these forward-looking statements as predictions of future events. Actual results may differ materially from those contemplated in these statements due to a variety of risks, uncertainties and other factors, including those factors described in PENN Entertainment's filings with the Securities and Exchange Commission (the "SEC"), including PENN Entertainment's current reports on Form 8-K, quarterly reports on Form 10-Q and its annual report on Form 10-K for the year ended December 31, 2023. Forward-looking statements speak only as of the date they are made and, except for PENN Entertainment's ongoing obligations under the U.S. federal securities laws, PENN Entertainment undertakes no obligation to publicly update any forward-looking statements whether as a result of new information, future events or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250113437128/en/
Media:
Dan Sabreen, PENN Entertainment, dan.sabreen@pennentertainment.com
Christopher Browne, Monumental Sports & Entertainment, cbrowne@monumentalsports.com