Penn Entertainment to launch ESPN BET in North Carolina

Penn Entertainment will launch ESPN BET in North Carolina through a partnership with Quail Hollow Club and the Wells Fargo Championship.

The long-term partnership has been agreed ahead of the launch of regulated online sports betting in North Carolina in early 2024.

In addition to market access in the state, the agreement designates ESPN BET as the official betting operator of the Wells Fargo Championship, a PGA TOUR Signature Event held at Quail Hollow Club in Charlotte, North Carolina.

“We are thrilled to partner with Quail Hollow Club and the Wells Fargo Championship as we prepare to bring our new online sports betting brand, ESPN BET, to North Carolina,” said Benjie Levy, Head of Penn Interactive. “Along with market access, we’re excited to sponsor the popular Wells Fargo Championship and look forward to working together with our new partners to create unique fan activations.”

As the event’s official betting operator, ESPN BET gains access to various marketing integrations, including the opportunity to activate and engage golf fans on-site during the tournament.

“We welcome the upcoming launch of regulated online sports wagering in North Carolina and are extremely pleased to partner with a leading gaming and entertainment operator in PENN Entertainment,” said Johnny Harris, president, Quail Hollow Club. “PENN’s compelling online sports betting brand ESPN BET, cutting-edge technology and extensive operational expertise make them an ideal long-term partner for this industry.”

The ESPN BET brand launched in 17 US states on November 14, replacing Penn’s former operations under the Barstool Sportsbook brand.

North Carolina’s sports betting legislation was signed in June by Governor Roy Cooper, allowing for the launch of online sports betting, as well as eight in-person sportsbooks at venues across the state.

The state’s regulated sports betting market was originally scheduled to open in January 2024 but is now expected to open in March, with the licensing process beginning last week on December 1.

Operators hoping to launch at the earliest go live date, which is yet to be determined, are encouraged to submit license applications by December 27.

North Carolina legalised retail sports betting at tribal casinos in 2019.

Shares in Penn Entertainment Inc. (NASDAQ:PENN) closed 3.98 per cent lower at $23.91 per share in New York Tuesday.