ESPN and the Can't Lose Parlay

ESPN is the number one sports provider in the United States. They have 370 million followers across social platforms and 25 million ESPN plus subscribers. So they're going to go license their name, essentially $200 million per year if you want to count the stock too. But even on a cash basis, it's $150 million per year, just to license the name. Now they go partner with Penn. And this is great for Penn because the reason why this is great is because you're not changing the overall strategy. The strategy is still to partner with a media partner or publication,. But the thing they're changing is the actual port. They're changing bar stool for ESPN. We've already seen