Disney Technology Executive LaBerge Appointed as Chief Technology Officer at Penn Entertainment
After spending over two decades in significant technology positions at Walt Disney, Aaron LaBerge is moving to Penn Entertainment as their new Chief Technology Officer (CTO).
Earlier today, Penn officially announced LaBerge's appointment, although some sources claim he left Disney due to unspecified personal reasons. As Penn's CTO, LaBerge will be reporting directly to CEO and President Jay Snowden.
LaBerge's responsibilities at Penn will include spearheading the tech strategy and execution while leading a multinational team of tech professionals and serving as the primary business leader for the company's Interactive division.
Penn has been in a challenging situation, as its Interactive sector—including the popular ESPN Bet sports wagering mobile app—continues to experience difficulty in achieving profitability and market share. Some quarters even predict ESPN Bet to generate a significant first-quarter loss for the company. Penn is set to release its first-quarter results on Thursday, May 2.
LaBerge May Be a Coup for Penn
Having worked for more than 20 years with Disney throughout two tenures, LaBerge's potential to thrive at Penn is promising.
The hiring of LaBerge could potentially be a smart decision for Penn. Previously, LaBerge held the role of president and CTO for Disney Entertainment and ESPN. Penn had signed a $1.5 billion, 10-year contract with Disney in August, which gave them the right to use the ESPN brand on their sports wagering app. As part of the arrangement, Disney received $500 million in Penn equity warrants.
As per Disney's statement, LaBerge played a major part in setting the vision for how the corporation utilized technology to facilitate storytelling and innovation, drive business, and create unrivaled consumer experiences with entertainment and sports content.
LaBerge was at the helm of ESPN as their Executive Vice President and CTO from 2015 to 2018. During this time, he played a pivotal role in the creation and growth of many of the organization's popular consumer-facing digital offerings.
LaBerge's Role Might Be Key in ESPN Bet Growth
Since the launch of ESPN Bet in November, it has surpassed its predecessor, Barstool Sportsbook, in market share. However, there is still significant room for improvement, particularly in regards to the technology aspect. This growth could signal how clever hiring LaBerge has been on Penn's part.
LaBerge's proficiency may be especially crucial for Penn amid speculation that ESPN Bet lags behind rivals regarding the profitability of parlays, which are heavily rooted in technology.
Read also:
- Koin Mobile Files Antitrust Lawsuit Against Everi for Cashless Payment Issues
- The Prairie Band Potawatomi Nation becomes Illinois' lone acknowledged tribe.
- President Zelenskyy Restricts Online Gambling to Combat Military Betting Addiction
- Las Vegas Casino Union Pledges Support for President Joe Biden's Re-Election
Source: www.casino.org
