PENN Entertainment reported net income losses of $26.8 million for the second quarter of 2024, with its PENN Interactive division reporting adjusted EBITDA loss of $102.8 million, but will be launching in New York this month prior to the football season.
The company announced the ESPN BET launch during this morning s second-quarter report. ESPN BET will also undergo several product updates and be integrated into ESPN s fantasy football app prior to the NFL season.
One direction the company will not be going in? There was no mention of any plan to institute a tax surcharge on winning online sports bets, similar to what DraftKings last week.
No Plans for Sports Betting Tax Surcharge
The company reported $1.9 billion in total liquidity, inclusive of $877.6 milli…