PENN Entertainment’s New iGaming Product Chief

Billy Turchin’s new appointment as Chief Product Officer at PENN Entertainment signals a bold move aimed at revitalizing the company’s digital strategy. Turchin, who previously helped lead FanDuel to success in the online gaming space, now faces a unique and significant challenge at PENN Entertainment, which owns and operates various gaming brands including ESPN Bet and Hollywood Casino.

Turchin's career trajectory showcases his ability to lead product innovation in high-stakes industries. Before joining PENN, he served as the Senior Vice President of Product at FanDuel, where his leadership helped shape the company's impressive rise in fantasy sports and online gaming. He also had a stint as Chief Product Officer at Honeywell, overseeing its Connected Buildings division.

At PENN, Turchin will be tasked with a pivotal role in driving the product strategy for several of the company’s digital gaming brands, including ESPN Bet, Hollywood Casino, and theScore Bet. His LinkedIn announcement emphasized the breadth of his new responsibilities, highlighting the expansive gaming footprint PENN boasts across North America, which spans 43+ casino and racetrack properties. This omnichannel ecosystem, combining both digital and physical gaming experiences, is one of the company’s major selling points.

“I’m thrilled to be part of shaping what comes next and grateful for the opportunity to be a disrupter in this rapidly evolving industry,” Turchin remarked. However, leading PENN's diverse digital assets won’t be as simple as replicating the strategies that made FanDuel a success.

New Approach for the iGaming Investment Portfolio

At FanDuel, Turchin was part of a more integrated digital platform that focused on fantasy sports and online casinos—two distinct but closely aligned product categories. In contrast, PENN’s digital assets are more fragmented. Its various brands, including ESPN Bet and Hollywood Casino, operate in different segments of the online gaming market. PENN’s challenge lies in bringing coherence to these disparate digital offerings and uniting them under a cohesive strategy.

PENN’s need for a digital transformation is urgent, particularly as the company has struggled with its digital performance in recent years. The company has faced a year-over-year decline in its share price, down by 12.1%, and the results from ESPN Bet have underwhelmed investors. The digital strategy thus far has failed to deliver the anticipated growth, which is part of the reason why Turchin’s appointment is so crucial.

Turchin’s approach will need to be tailored to the specifics of PENN’s current situation. He will need to create a strategy that not only addresses the company's diverse digital brands but also reinvigorates the company's broader gaming and entertainment offerings. Whether it's player account management, analytics, or compliance, Turchin’s role covers a wide range of responsibilities, but the true test will be his ability to spark a digital transformation that matches the expectations set by PENN's leadership and investors.

Turchin’s appointment comes at a time when PENN is facing significant hurdles, both operationally and financially. The company’s investor sentiment is a major concern, with key investor HG Vora Capital recently reducing its stake in the company to just 4.8%. This move signals growing doubts about PENN's ability to meet its strategic objectives. One of the most pressing concerns is the performance of ESPN Bet. In early 2025, CEO Jay Snowden admitted that ESPN Bet’s results were below expectations, which has created a potential risk for the company’s future. PENN's agreement with ESPN, which involves a $1.5 billion investment in a decade-long partnership, hinges on turning around the ESPN Bet brand. If results do not improve, there is a possibility that ESPN could terminate the deal as soon as 2026.

For Turchin, this represents a steep challenge. He’s tasked not only with leading digital product strategy but also with helping to turn around a brand that has not yet delivered the kind of returns expected. The pressure on Turchin to get ESPN Bet on track is immense, especially given the company’s sizable investment in the brand.

I’m thrilled to be part of shaping what comes next and grateful for the opportunity to be a disrupter in this rapidly evolving industry.

The Future

However, there are some glimmers of hope for PENN. The standalone Hollywood Casino app, which operates separately from ESPN Bet, has shown promise in recent months. This indicates that while ESPN Bet may be struggling, there are still opportunities within PENN’s portfolio that could drive iGaming growth.

As Turchin embarks on this new chapter of his career, all eyes will be on his ability to navigate the complexities of PENN Entertainment's diverse gaming portfolio. The road ahead is far from smooth—Turchin faces a company dealing with internal challenges, a complex digital landscape, and external pressure from investors. The outcome of his efforts will likely determine not only the future of ESPN Bet but also the broader trajectory of PENN’s digital strategy.

In many ways, Turchin’s task is not just about improving a single product or platform; it’s about leading a sweeping digital transformation that will define the company's future. For PENN to thrive in the evolving world of online gaming, it will need Turchin’s expertise to create products that appeal to an increasingly digital-savvy audience. With billions of dollars at stake, the stakes couldn’t be higher.