Jay Snowden has run PENN Entertainment since January 2020. He built the company’s ESPN Bet partnership, then shut it down in November 2025. Now he’s steering PENN back toward casino floors and iCasino, with a reshaped board watching closely.
Who Is Jay Snowden?
PENN Entertainment, one of the largest regional casino operators in the US, has been run by Jay Snowden since January 2020, when he stepped into the CEO and President role. He’d spent the prior four years running the company day to day as President and COO.
Snowden’s PENN career began in October 2011, and he worked through a string of senior roles before reaching the top. Before that, he spent 12 years at Caesars Entertainment in Las Vegas and Atlantic City.
He studied at Harvard as an undergraduate, then earned an MBA at Washington University in St. Louis. His career in gaming and hospitality now runs more than 25 years.
Jay Snowden’s Career at PENN Entertainment
Snowden’s time at PENN spans two chapters: land-based growth, then a digital pivot. He steered both, first as COO, then as CEO.
| Year | Milestone |
| 2011 | Joins PENN Entertainment in senior leadership roles |
| 2017 | Named President and Chief Operating Officer |
| 2019 | Appointed to PENN’s Board of Directors |
| 2020 | Becomes CEO and President |
| 2023 | Signs 10-year, $150 million-a-year ESPN Bet deal |
| 2025 | Ends ESPN Bet, rebrands PENN’s app to theScore Bet |
| 2026 | Settles board fight with HG Vora Capital Management |
As COO, Snowden led PENN’s margin improvement plans. He also ran the integration after PENN bought Pinnacle Entertainment.
Why Jay Snowden Walked PENN Away From ESPN Bet
In August 2023, Jay Snowden signed PENN to a 10-year deal with ESPN. The agreement gave PENN exclusive rights to the ESPN BET name for online sports betting in the US. PENN paid ESPN $150 million a year, plus stock warrants.
The deal included an exit clause. Either side could leave after three years if the sportsbook missed market share targets. ESPN Bet never closed the gap on DraftKings and FanDuel, so PENN and ESPN ended the partnership on November 6, 2025.
PENN paid ESPN $38.1 million to close out the deal. ESPN also agreed not to license the ESPN BET name to any other US operator for 15 months.
PENN rebranded its US sportsbook as theScore Bet on December 1, 2025. That name already ran PENN’s sports betting app in Ontario, Canada. Snowden said PENN would shift its digital spending toward online casino games instead of sports betting.
The HG Vora Boardroom Fight and What Changed
Jay Snowden also spent 2025 and 2026 defending his pay and his strategy. Activist investor HG Vora Capital Management won a proxy fight at PENN’s June 2025 annual meeting and seated two directors.
HG Vora argued PENN spent too much on ESPN Bet and paid Snowden too much for the results. Shareholders agreed on the pay question. More than 60% of votes rejected PENN’s 2025 executive pay plan.
PENN responded by cutting Snowden’s maximum 2026 pay by 31%, to $17.4 million. Shareholders approved the revised plan in June 2026, with about 77% support.
In February 2026, PENN and HG Vora signed a cooperation agreement. PENN grew its board from eight members to eleven and added three independent directors. HG Vora dropped its lawsuit and agreed to hold off on further board pushes until PENN’s 2027 shareholder meeting.
PENN’s Strategy Shift: Retail Casinos and iCasino Over Sports Betting
Snowden now points to two priorities: PENN’s retail casino floors and its online casino business. Sports betting still matters, but it’s no longer the company’s main growth story.
| Feature | ESPN Bet Era (2023-2025) | theScore Bet Era (2025-Present) |
| Sportsbook brand | ESPN BET | theScore Bet |
| Annual brand licensing cost | $150 million to ESPN | None |
| Primary growth focus | Online sports betting | iCasino and retail casinos |
| Marketing channel | ESPN’s media network | theScore’s media app |
| Capital return to shareholders | Not announced | $750 million buyback program |
The Bottom Line On Jay Snowden
Jay Snowden spent two years building PENN’s ESPN Bet partnership, then ended it before it caught DraftKings or FanDuel. He’s now steering PENN back toward what already works: retail casinos and iCasino, using theScore’s Canadian playbook.
Whether that approach keeps HG Vora and PENN’s shareholders satisfied is the next thing to watch.
Frequently Asked Questions
Who is Jay Snowden?
Jay Snowden leads PENN Entertainment as its CEO and President, a title he’s held since January 2020. He joined the company in 2011 and rose to President and COO in 2017. Before that, he spent 12 years at Caesars Entertainment in Las Vegas and Atlantic City.
Is Jay Snowden still CEO of PENN Entertainment?
Yes. As of 2026, Snowden is still PENN Entertainment’s CEO and President. He’s also kept his board seat, which he first won in August 2019.
Why did PENN Entertainment end its ESPN Bet partnership?
PENN and ESPN mutually agreed to end their 10-year sports betting deal in November 2025, three years into the agreement. ESPN Bet had not hit the market share targets both sides set, and PENN chose to redirect its digital spending toward iCasino instead of paying $150 million a year for the ESPN brand.
What is theScore Bet?
theScore Bet is PENN Entertainment’s rebranded US sportsbook, launched December 1, 2025, after the ESPN Bet split. The name already operated PENN’s sports betting app in Ontario, Canada, and now covers PENN’s online sports betting across most of its US markets.
What happened between PENN and HG Vora Capital?
HG Vora Capital Management is an activist investor that won two PENN board seats in a 2025 proxy fight. In February 2026, HG Vora and PENN signed a cooperation agreement that expanded PENN’s board and ended HG Vora’s lawsuit against the company.