PENN Entertainment (PENN.US) announced on Thursday that it plans to lay off 100 employees in order to focus on the growth of ESPNet.
Group CEO Jay Snowden said in an internal email that the company's interactive business is entering a phase of growth, which includes ESPNet. These measures include product enhancements and a deeper integration into the ESPN ecosystem.
He also said that after the acquisition of Canadian media and gaming company theScore in 2021, the layoffs will improve operational efficiency.