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Penn Buys $1.5B ESPN Bet Rights, Backs Out Of Barstool

By Al Barbarino (August 8, 2023, 5:37 PM EDT) -- ESPN Inc. and its affiliates have signed an exclusive 10-year online sports betting agreement with Wachtell Lipton-led Penn Entertainment Inc. that will see Penn relaunch its online Barstool Sportsbook as ESPN Bet, while selling Barstool Sports back to its founder, David Portnoy, according to statements issued Tuesday. ...

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