'industry insider' here. I'll be vaguer than the actual info but reference Penn's online presence netted them a fair bit less than $200m last year, so yes that

'industry insider' here. I'll be vaguer than the actual info but reference Penn's online presence netted them a fair bit less than $200m last year, so yes that number is insane. The reality is that Penn could probably have smoothed the ongoing toxicity over with regulators if the deal made sense. They apparently didn't know what everyone else knew: Portnoys community are all squares with no disposable income. They're terrible for handle and a burden on customer service. The purchase didn't move the needle. They also shit the bed on theScore purchase ($2b, worth nothing like that outside of hype), which allegedly Portnoy had a hand in in some fashion. ESPN deal is $150m a year over 10 years with ESPN having a get out at 3 years if they don't like how it's going. I'd put good money on them taking it. For reference ESPN approached FD and DK and they both rejected a deal because the financial made no sense. Penn leadership has been floundering for a strategy for years. The base question is: why do they need a brand to hide behind at all? They're not a big player because like most square shops their business model sucks. You could invest 150m a year over 10 years into actually doing their own market making and risk management rather then copying offshore books (who are the real market makers that almost all US books copy) and become a brand know for an actual bettors shop. My guess is within 5 years were going to see full management change and packaging up what's left of the business for a sale.