Cloud 9fin

Casino operator Penn Entertainment is betting that a $2bn partnership with ESPN will supercharge the company’s foray into the online sports wagering market.

It could be an expensive gamble: online sportsbooks have been a hotspot of growth in the US gambling industry, but competitors such as DraftKings and FanDuel are already starting to pivot to profitability from a “growth by any means” mentality after spending big to take market share.

Will Penn’s investors have the patience for another growth story? And how could a regulatory backlash against online gambling impact the industry?

On this week’s US edition of Cloud 9fin, US deputy editor David Bell quizzes senior reporter William Hoffman on Penn’s new tie-up with ESPN and what it means for leveraged credits in the sector.

What is Cloud 9fin?

Leveraged finance, distressed debt, and private credit drive today’s markets. Cloud 9fin delivers expert insights on high-yield bonds, syndicated loans, direct lending, and debt restructuring. Join top analysts and investors as we explore credit markets, special situations, and private debt strategies shaping the industry.

From credit risk assessment to institutional credit trends, each episode provides actionable intelligence for fund managers, institutional investors, and financial professionals. Whether you’re tracking high-yield issuances, analyzing corporate debt, or uncovering distressed debt opportunities, we’ve got you covered.

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