Shares Of PENN Entertainment Seeing Volume; Gaming Analyst, Steve Bittenbender, Post On X, "The New York State Gaming Commission is scheduled to consider PENN Sports Interactive's application to purchase Wynn Bet's NY sports betting rights at its meeting Monday afternoon If approved, it would open the door for ESPN BET to launch in the Empire State."
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PENN Entertainment is seeking approval from the New York State Gaming Commission to acquire Wynn Bet's NY sports betting rights. If approved, this would allow ESPN BET to enter the New York market.
September 19, 2024 | 5:22 pm
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POSITIVE IMPACT
Disney, through its ESPN brand, stands to benefit if PENN's acquisition of Wynn Bet's NY rights is approved, allowing ESPN BET to enter the NY market.
Disney's ESPN BET would gain access to the NY market, potentially increasing its sports betting footprint and revenue.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
PENN Entertainment is applying to acquire Wynn Bet's NY sports betting rights. Approval would enable ESPN BET to launch in New York, potentially boosting PENN's market presence.
PENN's acquisition of Wynn Bet's NY rights would allow ESPN BET to enter a lucrative market, likely increasing PENN's revenue and market share.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEUTRAL IMPACT
Wynn Resorts is in talks to sell its NY sports betting rights to PENN Entertainment. Approval would mean a strategic exit from the NY market.
Wynn's potential sale of NY rights to PENN indicates a strategic move, but the impact on Wynn's overall business is less direct.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60