- The New York State Gaming Commission will consider PENN Entertainment’s acquisition of Wynn Interactive today
- If approved, ESPN BET will likely be able to launch in the Empire State soon
- PENN had hoped ESPN BET would launch in late August
Is today the day ESPN BET will get the green light to move ahead in New York?
The New York State Gaming Commission today will consider PENN Interactive’s application to acquire WSI US, LLC, dba Wynn Interactive, during its September commission meeting. PENN Interactive announced its plans to acquire Wynn Interactive in February and launch ESPN BET into one of the largest sports betting markets in the world.
PENN Interactive’s ESPN BET platform cannot launch in New York until the commission approves its Wynn Interactive acquisition deal, which includes the highly prized sports betting license.
When Will ESPN BET Launch in NY?
If PENN Interactive receives approval today from the commission, which is the likeliest scenario, when will the sports betting operator be able to launch in New York? It’s been a disappointment so far for New Yorkers hoping to play with ESPN BET as the launch has been delayed from its estimated start date.
PENN Entertainment CEO Jay Snowden said during the company’s Q2 earnings report that the sports betting operator would be available in the Empire State by late August, prior to the start of the college football season.
However, three weeks into the NFL season and ESPN BET is still on the sidelines in the Empire State. If the acquisition receives approval today, then the operator still has to go through the regulatory process of receiving approval to launch. It will not be an instantaneous process.
PENN announced a deal to acquire Wynn and its prized New York online sports betting license in February. PENN Entertainment announced a deal for WSI US, LLC, from Wynn Interactive Holdings for $25 million. WSI US, LLC, is the entity that hold the company’s online sports betting licenses that were issued by the New York State Gaming Commission in 2021.
While every circumstance is different, it took Fanatics Betting and Gaming several months to launch in New York after the gaming commission approved the transfer of PointsBet’s online sports betting license to the company.
The gaming commission approved the transfer in October 2023 and Fanatics Sportsbook did not launch in the state for another four months until late February 2024.
It’s unlikely ESPN BET’s launch takes as long, but it may not be as quick as many hope.
PENN Long Coveted New York Market
PENN has attempted to enter the New York market before during its initial sports betting partnership with Barstool Sports.
PENN Entertainment was an initial applicants through its Barstool Sportsbook partnership when New York opened its licensing process in 2021 for its nine initial online sports betting licenses. PENN and its Barstool Sportsbook brand partnered with Fanatics Betting and Gaming and Kambi for a joint application. The three companies projected its bid could result in $1 billion in incremental tax revenue for the Empire State over a decade.
Ultimately, the New York State Gaming Commission did not accept the group’s bid.
The post Will ESPN BET Get The Green Light in New York Soon? appeared first on Sports Betting Dime.
