PENN Entertainment faces possible penalties in Massachusetts for a pair of separate sports betting violations. Among the violations was a comment made by ESPN’s Rece Davis on a March 24 episode of “College GameDay.” After ESPN betting analyst Erin Dolan shared NCAA Tournament betting advice, Davis referred to her suggestion as a “risk-free investment.” The...
Tag: Penn Entertainment
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Sports Stocks Rally in May Despite Betting Tax ‘Contagion’ Fears
This story appears in Sportico’s Morning Lead newsletter. Click here to sign up and get it delivered straight to your inbox. Sports stocks experienced a volatile end of May as sports betting stocks were hammered one day by fears of increasing state taxes on wagers and then buoyed the next on hopes investors could force...
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DraftKings, Flutter Shares Tumble on Illinois Sports Betting Tax Hike
A budget agreement that will nearly triple the tax on some sports bets in Illinois roiled shares of the major sports books operating in the state, sending shares of DraftKings down as much as 14% during trading Tuesday, while competitor Flutter, owner of FanDuel, plunged 8%. Officials in Illinois agreed on a fiscal 2025 budget,...
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ESPN BET named official PGA Championship betting partner
Penn Entertainment’s stock took a hit last week after ESPN Bet’s performance fell well below expectations. And that has since sparked criticism and made it difficult for Pat McAfee to promote the platform. But after last week’s news cycle, Penn Entertainment announced Tuesday a multi-year deal with the PGA of America, making ESPN Bet the...