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- PENN Entertainment stock spiked 20% on Wednesday after announcing a $2 billion deal with ESPN.
- The company will partner with ESPN to launch ESPN Bets, a new US-based sports-betting platform.
- The Walt Disney Company, the parent of ESPN, is expected to report earnings after the closing bell
Penn Entertainment stock spiked on Wednesday after the company struck a $2 billion sports-betting deal with ESPN.
Shares jumped 20% in early on Wednesday to trade at $28.90 a share after the casino operator announced a new partnership with the cable network to launch ESPN Bet, a US-based sports-betting platform.