PENN Entertainment Pivots U.S. Online Sports Betting Strategy to Focus on iCasino and Unified theScore Brand

20 September 2026

PENN Entertainment is pivoting its U.S. online sports betting (OSB) strategy away from an ESPN-branded product and toward a higher-growth iCasino focus and a unified theScore Bet branding across North America. With 28 jurisdictions in its footprint, PENN is driving digital growth in Canada and iCasino in the U.S. while investing in an omnichannel model linking land-based casinos, sports media, and digital gaming.

In a November 6, 2023 earnings release, PENN announced the early termination of its U.S. online sports betting agreement with ESPN and a planned rebrand to theScore Bet, targeting a December 1, 2023 launch in the U.S. subject to regulatory approvals. PENN said in the same release it was realigning its digital growth focus to U.S. iCasino and Canadian operations, with theScore Bet to be integrated and unified across the two countries.

In the year's final quarter, PENN achieved record casino gaming revenue of $617.3 million, a 40% year-over-year increase driven by record cross-sell from OSB of 62% and growth from the standalone Hollywood Casino and theScore Bet iCasino apps.

theScore Bet now operates in 28 jurisdictions across North America, with a customer base of 3.3 million from the PENN Play loyalty program. PENN reported it had 2.9 million digital users, including 300,000 acquired during the NFL season. How the company retains and converts that user base as it migrates customers to theScore Bet will be a critical factor in the success of its digital pivot.

Shifting Digital Priorities

iCasino is now central to PENN's growth strategy. In a January 5, 2024 corporate restructuring announcement, PENN CEO Jay Snowden said the company was better aligning its internal strategy around digital assets in Canada and its Hollywood iCasino product in the U.S., integrated with core retail casino operations. Competitor DraftKings' recent launch of standalone iCasino apps in key regulated states underscores how PENN is now playing defense as competitors prioritize casino play.

PENN's iCasino strategy hinges on cross-sell from its OSB and casino customer base. In a July 2024 launch, PENN introduced theScore Casino and Hollywood iCasino as standalone apps in Alberta, a key Canadian digital hub.

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That launch came with an increased commitment to Alberta. An August 2024 report said PENN had invested $20 million and 50 people in the province, framing Alberta as a cornerstone of its digital recovery and broader North American iGaming expansion.

Land-Based Casino Investments Continue

The land-based casino remains a key component of PENN's business model. PENN has continued investing in property development projects in Columbus, Aurora, Council Bluffs, Joliet, Las Vegas, and New Orleans. Most notably, PENN announced a plan to relocate its Boomtown riverboat casino to a land-based property in New Orleans in 2024, with an expected opening in 2027.

As PENN focuses on core growth rather than speculative M&A, low to negative unit economics in digital will make profitable scale an imperative. The business model's profitability rests on improving cross-selling from sports betting to casino, gaining new users through theScore, and integrating digital casino into core retail casino operations through loyalty and omnichannel strategies.

Over the next two years, PENN is balancing digital change with land-based casino growth through a major New Orleans installation and ongoing investments. With 3.3 million loyalty program members and 2.9 million digital users, PENN is now focusing on converting that mass entertainment customer base to theScore casino growth. The company's holistic entertainment model, geared toward strengthening cross-sell from sports betting to casino, will prove critical as it builds on the momentum achieved in Canada and capitalizes on theScore brand in regulated U.S. markets.