{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-23-088855","form_type":"8-K","ticker":"PENN","cik":"0000921738","company_name":"PENN Entertainment, Inc.","filed_at":"2023-08-08T23:59:59+00:00","discovered_at":"2026-05-14T18:03:37.039176+00:00","generated_at":"2026-06-12T03:31:18.350682+00:00","sec_items":["1.01","8.01","3.02","7.01","9.01"],"event_type":"other_material","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"PENN partners with ESPN, rebrands sportsbook as ESPN Bet; divests Barstool back to founder","bullets":["Exclusive 10-year (renewable 10) agreement to use ESPN Bet trademark for U.S. online sports betting; rebrand this fall.","PENN to pay ESPN $150M/year in cash over initial term (~$1.5B total) plus warrants for ~31.8M PENN shares.","ESPN receives warrants valued at ~$500M; bonus warrants up to ~6.4M shares if ESPN Bet hits 20-25% market share.","Barstool Sports sold 100% to Dave Portnoy for non-compete covenants; PENN keeps 50% of any future sale proceeds.","PENN estimates long-term Interactive Adj. EBITDA potential of $500M-$1B+ annually from the ESPN partnership."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-23-088855","json":"https://secwatch.observer/filing/0001104659-23-088855.json","markdown":"https://secwatch.observer/filing/0001104659-23-088855.md","text":"https://secwatch.observer/filing/0001104659-23-088855.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/921738/000110465923088855/0001104659-23-088855-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/921738/000110465923088855/tm2323045d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-12T03:31:18.350682+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}