ESPN Strikes $1.5B Deal to Jump Into Sports Betting

From an AP story by David Hamilton headlined “ESPN strikes $1.5B deal to jump into sports betting with Penn Entertainment”:

You know ESPN the sports media giant. Now brace yourself for ESPN Bet, a rebranding of an existing sports-betting app owned by Penn Entertainment, which is paying $1.5 billion plus other considerations for exclusive rights to the ESPN name.

The deal could take Walt Disney Co.-owned ESPN into uncharted waters. Disney is fiercely protective of its family-friendly image, not typically associated with the world of sports gambling.