ESPN BETS, LESS THAN A YEAR OLD, IS FAILING MISERABLY!

By Skip Charles in Vegas

There’s more bad news for ESPN BETS.

Over the last five years, PENN has experienced a lot of change in regards to gambling partners. After buying Barstool and selling it back late last year, PENN teamed up with ESPN, launching the ESPN BET Sportsbook in numerous states, including Pennsylvania.

ESPN BET Sportsbook has not gained the traction shareholders had been looking for, which triggered a response from The Donerail Group.

“After four years of effort, attention, and billions of dollars of shareholder capital invested, the Company has been unable to disintermediate the online sports betting landscape, as it had forecast,” The Donerail Group wrote.

“Moreover, the growing pattern of guidance misses, alongside a demonstrated unyielding appetite to continue to invest in the Company’s fledgling Interactive projects, irrespective of past results and without a clear return framework, has significantly damaged the credibility of this management team and Board of Directors (the “Board”).

“We question whether such credibility is beyond repair, as PENN’s shares are now down over 80% in the last three years because of such damage.”

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