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ESPN signs deal to create branded US gambling sportsbook

Sports broadcaster ESPN announced Tuesday it has signed a licensing deal with Penn Entertainment to create a branded sportsbook for US audiences that will launch later this year."The strategy here is simple: to give fans what they've been requesting and expecting from ESPN."
Under the deal, Penn has agreed to pay the ESPN $1.5 billion over 10 years and grant the Disney-owned broadcaster $500 million of warrants to buy about 31.8 million shares of Penn stock with options for more depending on ESP ....

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