Shaun Kelley, the leading analyst for Bank of America, highlighted the positive change and spoke about the strong launch of ESPN Bet across the country. On Monday, the Bank of America upgraded the rating for Penn’s stock from neutral to buy. The recent launch of ESPN Bet immediately impacted positively the stock of the leading gaming and entertainment company. The latest launch comes after a $1.5 billion deal announced between Penn Entertainment and ESPN, granting the gaming company the permit to use the name for the sports gambling app for the next decade. The new sports gambling app launched for 17 US states, entering important markets such as New Jersey, Pennsylvania, Colorado, Iowa, Maryland and Michigan, among others. Last week marked the debut of ESPN Bet, the newly rebranded sports gaming app owned by Penn Entertainment.
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