PENN Entertainment Friday ESPN BET sportsbook will be at its Hollywood Casino location in Greektown-Detroit. The venue it set to open in April. The location is currently “The Sportsbook at Hollywood Casino,” and will feature 40 betting kiosks, 25 HDTVs and a 30-foot video wall.
PENN Entertainment in November rolled out its new ESPN BET-branded online sportsbook, and at that time did not divulge where or when it would debut its first retail sportsbook. Greektown led the three Detroit casinos in retail sportsbook handle in 2023, accepting $71.1 million worth of bets, and had a hold of nearly 9.5% to win nearly $6.7 million in gross revenue. The venue took its largest monthly loss to start 2024, though, as bettors came out more than $1 million ahead on $9.1 million in January handle.
PENN Entertainment operates 32 retail sportsbooks across the U.S., and according to the release, ESPN regional radio talent will host events at company sportsbooks.
“We’re thrilled to announce that our market-leading sportsbook Hollywood Casino at Greektown will debut as the first ESPN BET-branded sportsbook in our portfolio,” PENN Entertainment CEO and President Jay Snowden via the press release. “Together with ESPN, we look forward to expanding the ESPN BET brand with our retail sportsbooks and creating unique omni-channel experiences at key PENN properties across the country.”
PENN reported net loss, has avenue for NY market access 255u
Last week, during PENN’s quarterly earnings call Thursday, Snowden revealed that s for the new platform reached more than 1 million in the first six weeks, but the use of promotional play resulted in a net loss of $358.8 million for the quarter. Snowden said PENN’s digital base increased nearly 50% because of the new s.
The company New York sports betting license as that company prepares to exit the Empire State. PENN previously had been shut out of New York, the biggest U.S. state with a competitive wagering marketplace. It’s unclear when ESPN BET will go live in New York, as the New York State Gaming Commission must approve the transfer, but PENN is hoping to launch the site in 2024.
Since the ESPN BET digital platform went live in November, it has consistently ranked third in online sports betting behind market leaders Caesars Sportsbook, which had consistently made up the top four market leaders.
“Growing the ESPN BET brand is essential in increasing our market share and ultimately reaching a podium position,” Mike Morrison, vice president ESPN BET and ESPN Fantasy said via press release. “Our commitment to that shows in a variety of ways from new markets to our first retail presence, and we cannot wait to open ESPN BET inside Hollywood Casino at Greektown for fans in Michigan ahead of some key sporting events.”
