US betting and gaming operator Penn Entertainment is to make around 100 staff redundant in a move which CEO Jay Snowden said will improve operational efficiencies.
As reported by CNBC, an internal memo sent by Snowden said the move is related to its 2021 acquisition of theScore.
"When PENN acquired theScore, we hit the ground running with the build-out of our proprietary tech stack and the migration of our sportsbook to theScore’s best-in-class-platform,” Snowden wrote.
“This led us to temporarily set aside any potential organisational changes that would typically follow a major acquisition.”
The lay-offs also come as Penn looks to improve its ESPN Bet operator brand, which it is running in partnership with the media giant and Disney.
Penn has recently faced criticism from The Donerail Group, an activist investor. It hit out at what it believes are “continued and significant strategic failures” by the company.
