In addition to the $1.5 billion licensing deal, Penn also said it would grant ESPN rights worth about $500 million to purchase shares in Penn.ĮSPN Bet is a rebranding of an existing sports-betting app, Barstool Sportsbook. Under August’s agreement, Penn’s rights to the ESPN brand will initially run for a decade with the option of extension for another 10 years. ESPN Bet was set to go live in the following states: Arizona, Colorado, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, New Jersey, Ohio, Pennsylvania, Tennessee, Virginia and West Virginia.
