Penn Entertainment’s CEO Celebrates the Success of ESPN BET

In mid-November, ESPN BET, the newest sportsbook at the time that is the result of a transformation of Barstool Sportsbook, officially launched in 17 US states. The launch came after an agreement between ESPN and Penn Entertainment that paved the way for the new exclusive sportsbook that promised exceptional betting experiences. The entry of ESPN BET into the legal betting vertical across the country did not disappoint, considering it recorded 1.1 million downloads in its first week of operation.

While the success since the launch of ESPN BET is evident, Penn Entertainment’s CEO, Jay Snowden, predicts further positive impact and growth for the sportsbook which is expected to undergo additional improvements ahead of the start of the football season. The CEO was among a number of gaming industry executives who participated in the J.P. Morgan Gaming, Lodging, Restaurant & Leisure Access Forum. The initiative brought experts from the gambling industry who engaged in a range of discussions.

Participating in the debate, Snowden, who was recently quoted by CDC Gaming Reports, explained that the success of ESPN BET is already evident. He revealed that based on analysis, it was determined that the brand performed better in states that have recently launched mobile sports betting.

Fortunately, ESPN BET was among the sportsbooks that rolled out their offering with the opening of the mobile betting market in North Carolina this week. The state officially launched its legal mobile betting sector on March 11. GeoComply, the leading geolocation, fraud prevention and compliance technology provider, analyzed data about the first 48 hours of operation on the market. The company predicted that North Carolina has the potential to become a leading betting market for the country.

The Sportsbook Continues to Grow Its Customer Base

Speaking about the observed trend that ESPN BET performs better in states where sports betting is launched recently, Snowden said that there are similar expectations for North Carolina. Speaking about the performance of the sportsbook since its launch, the CEO said that it has been “remarkably consistent” when it comes to weekly active users.

“We’re only scratching the surface of what’s to come.“

Jay Snowden, CEO of Penn Entertainment

According to Penn’s boss, the latest results represent only the tip of the iceberg as he predicted further success for ESPN BET. Focusing on initial expectations, he said that in the first seven weeks, some 300,000 new users were expected. However, Snowden said, that number surpassed one million.

The executive confirmed that ESPN BET is expected to implement enhancements for its app in light of the upcoming football season. Those improvements, Snowden predicted, are ultimately expected to boost the sportsbook revenue and betting handle, while at the same time increasing its market share and positively impacting Penn’s growth.