In the New York sports betting industry, Wynn Interactive ranked last in July with a revenue of $51,222 and a betting amount of $936,926. Later this month, ESPN Bet, under Penn Entertainment, will replace Wynn Interactive, which obtained Wynn's New York sports betting license in February.
Last week, during the second quarter earnings call of the University of Pennsylvania, CEO Jay Snowden discussed the prospects of ESPN Bet in the state. Snowden mentioned that the ESPN media website and app in New York State have an average monthly visitation of 10 million, allowing them to attract customers in a "healthy yet cost-effective" manner.
As investors worry about the market share of ESPN Bet and the costs of competing with established sports betting giants, the University of Pennsylvania hopes that the service can be successfully launched in New York.
