ESPN is lastly stepping into the sportsbook area.

On Tuesday, the corporate introduced that it has reached an settlement with PENN Entertainment to launch ESPN Bet — an ESPN-branded sportsbook.

In the press launch, ESPN said that Barstool Sportsbook — which PENN took full management of as a part of its full acquisition of Barstool Sports in February — shall be rebranded as ESPN Bet within the Fall.

“Our primary focus is always to serve sports fans and we know they want both betting content and the ability to place bets with less friction from within our products,” ESPN chairman Jimmy Pitaro stated in a press release. “The technique right here is easy: to present followers what they’ve been requesting and anticipating from ESPN.

In an obvious coordinated effort, Barstool founder Dave Portnoy announced that he had purchased the corporate again from PENN.

“For the first time in a decade, I own 100% of Barstool Sports,” Portnoy stated in his video.

This story shall be up to date.