PENN Entertainment, Inc. SEC 10-Q Report — TradingView News

PENN Entertainment, Inc., a leading provider of integrated entertainment, sports content, and casino gaming experiences, has released its latest Form 10-Q report, showcasing a significant financial turnaround and robust operational performance. The report highlights the company’s strategic initiatives and financial metrics for the recent quarter, reflecting its ongoing efforts to optimize operations and expand its footprint in the online gaming market.

Financial Highlights

• Total Revenues: $1,672.5 million, reflecting an increase from $1,606.9 million in the prior year period, driven by growth in gaming and food, beverage, hotel, and other revenues.
• Operating Income: $42.8 million, compared to an operating loss of $21.4 million in the prior year period, indicating improved operational efficiency.
• Net Income: $111.5 million, a significant turnaround from a net loss of $114.9 million in the prior year period, primarily due to a gain on financing arrangement and reduced interest expenses.
• Net Income Attributable to PENN Entertainment, Inc.: $111.8 million, compared to a net loss of $114.7 million in the prior year period.
• Basic Earnings Per Share: $0.73, compared to a loss per share of $0.76 in the prior year period, reflecting improved profitability.
• Diluted EPS: $0.68, compared to a loss per share of $0.76 in the prior year period, indicating a positive earnings turnaround.

Business Highlights

• Revenue Segments: The company reported revenue from various segments, including Gaming, Food and Beverage, Hotel, and Other. The Interactive segment, which includes online gaming operations, contributed significantly to the total revenue, with a notable increase in gaming tax reimbursements related to third-party online sports betting and iCasino partners.
• Geographical Performance: The Northeast segment generated the highest revenue among the geographical segments, followed by the Midwest, South, and West segments. The Interactive segment showed substantial growth, driven by increased online gaming activities.
• Operational Efficiency: The company focused on optimizing its operations across different segments, with a particular emphasis on enhancing the performance of its Interactive segment. This included leveraging its partnership with ESPN for online sports betting under the ESPN BET brand.
• Future Outlook: The company plans to continue expanding its footprint in the online gaming market, leveraging its strategic partnerships and proprietary technology. The focus will be on organic growth and cross-sell opportunities across its retail and online platforms.
• Segment Adjusted EBITDAR: The Northeast segment reported the highest Adjusted EBITDAR, followed by the Midwest and South segments. The Interactive segment, despite its revenue growth, reported a negative Adjusted EBITDAR, indicating ongoing investments in this area.

SEC Filing: PENN Entertainment, Inc. [ PENN ] – 10-Q – May. 12, 2025