ESPN Announces $2 Billion Deal With PENN Entertainment, Dave Portnoy Buys Back Barstool Sports

A view of the logo during ESPN The Party in San Francisco, Calif., on Feb. 5, 2016. Mike Windle/Getty Images for ESPN

ESPN on Aug. 8 announced it is partnering with casino operator PENN Entertainment under a $2 billion, 10-year joint venture to launch “ESPN BET,” a branded online sports book for fans in the United States.

At the same time the deal was announced, ESPN, which is owned by Disney, said it had dropped its current online sports book with the sports website Barstool Sports.