PENN Entertainment & MSE Team Up, ESPN BET to Enter Washington D.C.

The wholly-owned subsidiary of PENN Entertainment, Inc. PENN, PENN Sports Interactive, LLC, joins hands with Monumental Sports & Entertainment (“MSE”) for a long-term multi-channel agreement.PENN stock gained 3% during Monday’s trading hours and inched down 0.1% in the after-hours.PENN’s New PartnershipThrough the strategic partnership, PENN Entertainment will secure online market access for ESPN BET, its online sportsbook, in Washington D.C., subject to regulatory approvals. Currently available in 19 states, ESPN BET is an amalgamation of ESPN’s industry-leading brand recognition and PENN Entertainment’s proprietary in-house technology and deep sportsbook operational expertise.Notably, ESPN BET will also become the sports betting partner of Monumental Sports and its teams, including the Washington Capitals, Washington Wizards and Washington Mystics. Per the agreement, ESPN BET will coordinately work with MSE to enhance the fan experience through a multi-channel, integrated marketing partnership.The collaborative offerings through the partnership will offer prominent in-arena and media components, comprising IP rights for MSE, Capitals, Wizards and Mystics for both ESPN BET and Hollywood Casino at Charles Town Races; in-arena and tv-visible signage; out-of-home advertising; commercial schedule across Monumental Sports Network; and unique hospitality and experiences.Per Aaron LaBerge, chief technology officer of PENN Entertainment, “This deal expands our footprint in the region, further connecting ESPN BET with one of America’s most passionate sports communities. Our presence alongside the Capitals, Wizards and Mystics positions ESPN BET at the center of the action where sports, technology and fan experience converge.”ESPN BET Driving PENN’s GrowthIn August 2023, PENN Entertainment entered into a transformative, exclusive, long-term strategic alliance with ESPN to rebrand its existing Barstool Sportsbook across all online platforms in the United States as ESPN BET and oversee daily Sportsbook operations. On April 25, 2024, the company opened its first ESPN BET retail sportsbook in Hollywood, Detroit, for a multi-day NFL draft activation, which includes live draft coverage by ESPN at its casino.Furthermore, in September 2024, Penn Entertainment expanded its online betting presence by launching ESPN BET in New York, bringing its footprint to 19 U.S. states, covering nearly 46% of the U.S. population. With ESPN's 10 million average monthly visitors, the New York launch significantly enhanced PENN’s scale, allowing it to leverage ESPN's media reach for more efficient customer acquisition.Image Source: Zacks Investment ResearchShares of PENN have gained 6.8% in the past three months, outperforming the Zacks Gaming industry’s 4.1% growth. The company is optimistic about the inclusion of ESPN in its extended family. It believes that this strategic amalgamation will continue to pave the path for new customer acquisition and organic cross-selling opportunities.PENN’s Zacks Rank & Key PicksPENN Entertainment currently carries a Zacks Rank #3 (Hold).Here are some better-ranked stocks from the Consumer Discretionary sector.Lindblad Expeditions Holdings, Inc. LIND currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.LIND has a trailing four-quarter negative earnings surprise of 56.7%, on average. The stock has gained 25.3% in the past year. The Zacks Consensus Estimate for LIND’s 2025 sales and earnings per share (EPS) indicates growth of 10.2% and 93.1%, respectively, from the year-ago levels.Trip.com Group Limited TCOM presently sports a Zacks Rank of 1. TCOM has a trailing four-quarter earnings surprise of 42.8%, on average. The stock has hiked 71% in the past year.The Zacks Consensus Estimate for TCOM’s 2025 sales and EPS indicates an increase of 15.1% and 7.4%, respectively, from the year-ago levels.Universal Technical Institute, Inc. UTI currently sports a Zacks Rank of 1. UTI has a trailing four-quarter earnings surprise of 54.6%, on average. The stock has surged 93.5% in the past year.The Zacks Consensus Estimate for UTI’s fiscal 2025 sales and EPS indicates an increase of 10.1% and 28%, respectively, from the year-ago levels.Free: 5 Stocks to Buy As Infrastructure Spending SoarsTrillions of dollars in Federal funds have been earmarked to repair and upgrade America’s infrastructure. In addition to roads and bridges, this flood of cash will pour into AI data centers, renewable energy sources and more.In, you’ll discover 5 surprising stocks positioned to profit the most from the spending spree that’s just getting started in this space.Download How to Profit from the Trillion-Dollar Infrastructure Boom absolutely free today.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Universal Technical Institute Inc (UTI): Free Stock Analysis Report PENN Entertainment, Inc. (PENN): Free Stock Analysis Report Lindblad Expeditions (LIND): Free Stock Analysis Report Trip.com Group Limited Sponsored ADR (TCOM): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks