PENN

Penn Entertainment To Acquire Mobile Sports Wagering Licenses From Wynn Interactive For $25 Mln

(RTTNews) - Tuesday, Penn Entertainment, Inc. (PENN) announced that it has agreed to acquire the WSI US, LLC, which holds the mobile sports wagering licenses issued by the New York State Gaming Commission in 2021, from Wynn Interactive Holdings, a subsidiary of Wynn Resort.

This acquisition, which was made for $25 million, provides PENN with significant market access to the jurisdiction, enabling the company to launch its online sports wagering product, ESPN BET, in New York by 2024. However, the launch is still subject to regulatory approvals.

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