Morning Brew Daily Penn and ESPN Gamble on New Partnership & Credit Card Debt Soars Over $1 Trillion
Aug 9, 2023
A groundbreaking $2 billion deal between ESPN and Penn Entertainment to launch a betting app sparks discussion about sports gambling's future. The return of Barstool Sports to Dave Portnoy raises eyebrows. In a shocking revelation, US credit card debt has soared past $1 trillion, signaling a complex economic landscape. This is juxtaposed with the promising rise of weight-loss drugs that may prevent heart attacks. Plus, local backlash against offshore wind projects and a unique Fortnite initiative teaching about the Holocaust.
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Intense Catan
- Neal played Settlers of Catan with Toby and found him very competitive.
- Toby's intensity involved pacing, yelling, and nearly foaming at the mouth.
ESPN & Penn Bet Big
- Penn Entertainment and Barstool Sports split, with Penn partnering with ESPN for sports gambling.
- ESPN's deal with Penn is worth $1.5 billion over 10 years.
Credit Card Debt Soars
- U.S. credit card debt exceeded $1 trillion for the first time, driven by inflation, higher interest rates, and increased card usage.
- Despite the milestone, credit card debt represents a historically low percentage of total household bank deposits.