PENN Entertainment Teams Up with Monumental for New Ventures

PENN Entertainment Partners with Monumental Sports

PENN Entertainment, Inc. (Nasdaq: PENN) has recently announced an exciting collaboration with Monumental Sports & Entertainment (MSE). This partnership aims to enhance access to online sports betting through PENN's subsidiary, PENN Sports Interactive, LLC. With the regulatory greenlight, ESPN BET will become a major player in the Washington, D.C. market, connecting sports fans with innovative betting experiences.

A New Era for Sports Betting in Washington, D.C.

The partnership signifies a significant expansion for PENN as ESPN BET will not only provide online market access in Washington D.C. but will also be recognized as a sports betting partner for Monumental's prominent teams, including the Washington Capitals, Wizards, and Mystics. This strategic agreement seeks to revolutionize how betting is integrated into the sports experience.

Enhancing Fan Engagement

As highlighted by Jim Van Stone, President of Business Operations at MSE, the collaboration is set to elevate fan experiences with unique interactions surrounding the games. The partnership promises to deliver cutting-edge experiences that bring fans closer to the action. ESPN BET will enhance engagement inside and out of the arena, providing fans with new opportunities to connect with their favorite teams.

What the Partnership Entails

The multi-channel agreement includes various elements such as in-arena signage, advertising on the Monumental Sports Network, and unique hospitality experiences. Moreover, ESPN BET will play a crucial role in providing responsible gaming education, ensuring that fans are informed and equipped to enjoy the experience safely.

Commitment to Responsible Gaming

PENN Entertainment is dedicated to promoting responsible gaming practices through its platforms. The company implements resources aimed at ensuring players have access to tools that help control their gaming activities. Initiatives include limits on time, deposits, and wagering amounts, highlighting an inherent responsibility toward creating a safe betting environment.

Expanding Its Footprint

This partnership is part of PENN's broader strategy to leverage its relationship with ESPN and effectively tap into a passionate sports community. With ESPN BET, PENN aims to connect with engaging experiences in sports across 19 states where the platform is currently operational.

About Monumental Sports & Entertainment

Monumental Sports & Entertainment is recognized as a leading sports management entity in the U.S., dedicated to fostering community connections through sporting events. The organization thrives on delivering extraordinary experiences and continues to innovate within the sports and entertainment sector.

About PENN Entertainment

PENN Entertainment stands at the forefront of integrated entertainment and gaming experiences in North America, operating across 26 jurisdictions. Committed to diversifying its offerings, PENN enhances its customer ecosystem through its broad selection of brands including Hollywood Casino and ESPN BET. The company leverages its existing relationships and technological advancements to promote a unique sports betting experience.

Frequently Asked Questions

What is the purpose of the PENN and Monumental partnership?

The partnership aims to improve access to online sports betting in Washington D.C. and enhance fan engagement through sports events.

Which teams will ESPN BET partner with?

ESPN BET will partner with the Washington Capitals, Wizards, and Mystics as part of its agreement with Monumental.

What measures does PENN have in place for responsible gaming?

PENN provides various tools and resources for responsible gaming, including limits on deposits and account activity.

How will this partnership benefit sports fans?

The collaboration will create unique experiences that connect fans with their teams, enrich their engagement during games, and offer exciting betting options.

In how many states is ESPN BET operational?

ESPN BET is currently available in 19 states, providing widespread access to sports betting services.

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