It appears as if the New York sports betting industry won’t see the launch of ESPN Bet until the end of this month, at the earliest.
While Penn Entertainment and ESPN Bet executives have made it clear their intentions to launch the NY sportsbook as soon as possible, one key to-do has remained unchecked in order for ESPN Bet NY to go live in the Empire State.
And according to state regulators, the New York State Gaming Commission could review that final item during its Sept. 23 meeting.
Still awaiting launch of ESPN Bet NY
If you recall, Penn spent $25 million to acquire the online sports betting license of WynnBet, which ultimately shut down operations at the end of July.
At the time of the February announcement, Penn CEO Jay Snowden called the move “an important development that will bring ESPN Bet to the largest regulated online sports wagering market in North America.
Snowden added that New York was “key” to the growth of ESPN Bet across the country.
Certainly the expectation was for ESPN to launch in time for the football season. Indeed, execs confirmed that logic during a recent earnings call, as Aaron LaBerge, chief technology officer for Penn, said ESPN Bet would go live “in late August, pending regulatory approval.”
Emphasis on ‘regulatory approval’ for ESPN Bet launch
ESPN Bet missed the first few weeks of the college football season, and it remained on the sideline as the NFL opening week came and went.
It appears as if the operator will miss a few more weeks, despite ESPN Bet officials indicating that the sportsbook is ready to go live.
Penn has put in the groundwork to get in on the nation’s No. 1 sports betting market, but one key component is keeping ESPN Bet from launching: state approval of the WynnBet acquisition.
According to the NYSGC, the commission expects to do that during their next meeting on Sept. 23. How quickly ESPN Bet can release its product after that remains to be seen, as state regulators may have to vet the platform internally before allowing the sportsbook to launch.
While ESPN Bet will still get much of the football season after going live, it will have missed what could have been an important time to potentially make a statement that it can contend with the NY sports betting heavy-hitters such as FanDuel and DraftKings.
