Last updated on September 24th, 2024 at 11:47 am
The New York State Gaming Commission voted to transfer the digital sports betting license from Wynn Resorts to Penn Entertainment. As a result, ESPN Bet wants to launch in the state right after securing the NYSGC license.
According to sportsbook pay per head experts, ESPN and Penn Entertainment have patiently waited for the vote and approval to start. When asked about a potential launch date, executives from both firms had previously mentioned the end of August. Despite this, the NYSGC chose not to convene a special meeting to cast a vote, and the most recent meeting was in June.
New York state can issue only nine digital wagering licenses. At the start of 2024, all nine were in the black, but in July, WynnBet opted to leave the state and the digital betting industry permanently. In February, Penn and WynnBet struck a $25 million deal to purchase the New York license.
Chris Rogers, Penn’s executive vice president, chief strategy and legal officer, and secretary, informed the panel at Monday’s hearing that a few technological boxes still need to be checked. Nonetheless, he did mention that a launch is in the works for the next few days, with a possible soft launch planned just before the weekend.
ESPN Bet Approves NYSGC License
If that were to happen, the ESPN Bet platform would be ready for the NFL season’s fourth week. Starting Thursday night (26 September), all of New York’s teams—the Giants, the Cowboys, and the Jets—are set to face each other. On Sunday, September 29th, the New York Jets will play host to the Denver Broncos, while on Sunday night, the Buffalo Bills will travel to Baltimore to take on the Ravens.
The commission reports that ESPN Bet is available for online sports betting in 19 states and online casino games in 5 states. Penn and ESPN signed a collaboration in 2023 to deliver the platform. On November 15, 2023, it went live in seventeen US jurisdictions. The topic of ESPN Bet’s potential expansion into the New York market and its potential interactions with college-aged individuals and college campuses were among many that Rogers addressed.
A commissioner observed that, given WynnBet’s lack of success in the state, the opening of ESPN Bet may attract new consumers instead of luring away existing ones. Rogers agreed with the statement. Thus, it is the perfect time for ESPN to open a bookie website in the state.
Penn Entertainment Promises No College Deals
Rogers clarified that Penn has no affiliations with universities and that the firm takes the prohibition of marketing to minors extremely seriously when asked about their marketing efforts to American college students and college campuses. The commissioners voiced reservations over ESPN’s involvement with collegiate athletics and the partnership between the two companies.
In New York, you may find every major US operator. A few of the first licensees were Bally’s, BetMGM, Caesars Sportsbook, DraftKings, FanDuel, Resorts World, and Rush Street Interactive. The eighth of January 2022 marked the beginning of a new platform era. In March of 2023, Fanatics Sportsbook relaunched the New York platform after acquiring PointsBet’s North American assets in August of 2023.
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