ESPN Bet unveils brand

ESPN Bet’s mint green and navy logo is to feature across the multiple ESPN channels, including in-app, on social media and in television programming.

The sports media company added the logo will give prominence to the “ESPN” brand. However, the mobile sportsbook application itself will be branded as the letter “E” within a “B”.

ESPN, which is the largest sports media brand in the US, said this “creatively expresses the idea that ESPN, in partnership with Penn Entertainment, is launching a sportsbook for fans, but at its core is still ESPN, the most trusted brand in sports.”

According to Penn president and CEO Jay Snowden, the app is set to launch in November after a five-month development period.

This followed the August announcement that Penn would be launching an ESPN-branded online sports betting offering through a $1.5bn deal with the business.

The same month, ESPN vice-president of sports betting Mike Morrison told iGB the business had been looking into the sports betting space ahead of the repeal of the 2018 PASPA repeal.

The agreement simultaneously saw Penn sell the Barstool sportsbook back to controversial founder Dave Portnoy, which had previously been the operator’s sports betting vehicle in the US.

The ESPN Bet Disney-Penn deal

Under the deal, Penn agreed to pay $1.5bn in cash payments over a ten-year term. In addition, Disney was granted an additional $500m in warrants to buy Penn stock. In return, Penn received marketing, media and branding rights from ESPN.

ESPN also can increase its share in Penn if the app hits its market share targets. Additionally, the media business have an option to appoint one non-voting observer to the Penn board.