Walt Disney Co.’s
DIS,
ESPN on Tuesday announced an agreement with Penn Entertainment Inc.
PENN,
to launch ESPN Bet, a branded sportsbook for fans in the U.S. Penn Entertainment will rebrand its current sportsbook and relaunch as ESPN Bet in the fall in 16 legalized betting states where Penn Entertainment is licensed. The rebrand — which includes the mobile app, website, and mobile website — sent Penn’s stock up 23% in after-hours trading Tuesday.
