On Tuesday, Penn Entertainment, Inc. (PENN) declared its agreement to purchase WSI US, LLC from Wynn Interactive Holdings, a Wynn Resort subsidiary. WSI US, LLC is significant since it holds the mobile sports wagering licenses issued by the New York State Gaming Commission in 2021.
The acquisition, carried out for $25 million, significantly expands PENN's market reach, permitting the company to launch its online sports wagering product, ESPN BET, in New York by 2024. Nonetheless, this launch is pending regulatory approval.
