Barstool Sportsbook operator rebrands as ESPN Bet in a new $1.5 billion licensing deal

As ESPN’s future drifts in the direct-to-consumer wind,

will let the sportsbook rename existing properties, like its Barstool Sportsbook, to ESPN Bet. In return, Penn is scheduled to pay ESPN $1.5 billion over the next ten years, as well as $500 million in warrants to buy shares of the operation and, potentially, the ability to appoint a board member.

In early 2022, then-Disney CEO Bob Chapek said Disney’s…