{"id":1716153,"date":"2026-04-23T11:17:48","date_gmt":"2026-04-23T11:17:48","guid":{"rendered":"https:\/\/celebrity.land\/pt\/?p=1716153"},"modified":"2026-04-23T11:17:48","modified_gmt":"2026-04-23T11:17:48","slug":"penn-entertainment-inc-reports-first-quarter-results","status":"publish","type":"post","link":"https:\/\/celebrity.land\/pt\/penn-entertainment-inc-reports-first-quarter-results\/","title":{"rendered":"PENN Entertainment, Inc. Reports First Quarter Results"},"content":{"rendered":"\n<figure><\/figure>\n<\/p>\n<div>\n<p><span>WYOMISSING, Pa.&#8211;(<a target=\"_blank\" rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<\/span>PENN Entertainment, Inc. (\u201cPENN\u201d or the \u201cCompany\u201d) (Nasdaq: PENN) today reported financial results for the quarter ended March 31, 2026.<\/p>\n<p>\nJay Snowden, Chief Executive Officer and President, said: \u201cWe are pleased to report another solid quarter. Retail Segment Adjusted EBITDAR grew year-over-year and stable trends are carrying into April. In our Interactive segment, continued online casino growth combined with positive trends in Ontario are driving momentum as we prepare for the anticipated July 13 launch of regulated iCasino and online sports betting in Alberta<sup>1<\/sup>. Importantly, we are executing on the plan we outlined last quarter, driving Retail and Interactive growth, optimizing corporate overhead, making disciplined capital investments, and continuing to delever.<\/p>\n<p>\n<b>First Quarter Retail Segment Highlights<sup>2<\/sup>:<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nRevenues of $1.4 billion;<\/p>\n<\/li>\n<li>\nSegment Adjusted EBITDAR of $471.4 million; and<\/p>\n<\/li>\n<li>\nSegment Adjusted EBITDAR margins of 33.2%.<\/p>\n<\/li>\n<\/ul>\n<p>\n\u201cTrends were encouraging across the portfolio, with strength in our West segment reflecting the continued ramp of M Resort\u2019s new hotel tower and strong execution by the team at Ameristar Casino Resort and Spa in Black Hawk, Colorado,\u201d said Mr. Snowden. \u201cIncreased visitation and higher spend per visit companywide supported year-over-year theoretical revenue growth across all rated worth segments, representing our largest quarterly increase in three years. We recently announced the June opening dates<sup>1<\/sup> for the new hotel tower at Hollywood Columbus and the new Hollywood Casino Aurora and remain excited about the anticipated returns on our development project investments based on the success to date from our recent openings at Hollywood Casino Joliet and M Resort.<\/p>\n<p>\n<sup>1<\/sup> Subject to regulatory approvals.<\/p>\n<p><sup>2<\/sup> Retail Segment consists of retail operating segments which are composed of our Northeast, South, West, and Midwest reportable segments.<\/p>\n<p>\n<b>First Quarter Interactive Segment Highlights:<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nRevenues of $358.3 million (including tax gross up of $185.8 million); and<\/p>\n<\/li>\n<li>\nAdjusted EBITDA loss of $10.8 million.<\/p>\n<\/li>\n<\/ul>\n<p>\n\u201cOur Interactive segment delivered a meaningful Adjusted EBITDA improvement year-over-year, which marks the first full quarter under our realigned digital strategy. iCasino revenue growth of approximately 15% year-over-year was driven by the continued momentum of standalone iCasino, which notably achieved record quarterly revenue in the first quarter as well as record monthly revenue in March. The trends we are seeing provide us with confidence in the trajectory of the business and upcoming launch in Alberta<sup>1<\/sup>,\u201d concluded Mr. Snowden.<\/p>\n<p>\n<b>Liquidity and Financial Position<\/b><\/p>\n<p>\nOn March 16, 2026, the Company issued $600.0 million of unsecured notes due 2031 at an interest rate of 6.75%. Net proceeds were used to repay borrowings under PENN\u2019s revolving credit facility.<\/p>\n<p>\nTotal liquidity as of March 31, 2026 was $1.7 billion inclusive of $708.0 million in Cash and cash equivalents. Traditional net debt as of the end of the quarter was $2.2 billion.<\/p>\n<p>\nOn April 16, 2026, the Company amended its Second Amended and Restated Credit Agreement in order to refinance and extend the term of its $1.0 billion Amended Revolving Credit Facility and $446.9 million Amended Term Loan A Facility. The Company\u2019s existing Amended Term Loan B Facility was not refinanced as part of this transaction.<\/p>\n<p>\n<b>Summary of First Quarter Results<\/b><\/p>\n<p>\n<b>Adjusted EPS<\/b><\/p>\n<p>\nThe following table reconciles diluted earnings (loss) per share (\u201cEPS\u201d) to Adjusted EPS (approximate EPS impact shown, per share; positive adjustments represent charges to income):<\/p>\n<p class=\"bwalignc\">\n<b>PENN ENTERTAINMENT, INC. AND SUBSIDIARIES<\/p>\n<p><\/b><b>Supplemental Information<\/b><\/p>\n<p>\nThe Company aggregates its operations into five reportable segments: Northeast, South, West, Midwest, and Interactive.<\/p>\n<p class=\"bwalignc\">\n<b>PENN ENTERTAINMENT, INC. AND SUBSIDIARIES<\/p>\n<p><\/b><b>Reconciliation of Net Income (Loss) to Consolidated Adjusted EBITDA<\/b><\/p>\n<p class=\"bwalignc\">\n<b>PENN ENTERTAINMENT, INC. AND SUBSIDIARIES<\/p>\n<p><\/b><b>Consolidated Statements of Operations<\/p>\n<p><\/b><b>(Unaudited)<\/b><\/p>\n<p class=\"bwalignc\">\n<b>Selected Financial Information and GAAP to Non-GAAP Reconciliations<\/b><\/p>\n<p>\n<b>Cash Flow Data<\/b><\/p>\n<p>\nThe table below summarizes certain cash expenditures incurred by the Company.<\/p>\n<p>\n<b>Reportable Segment Measures<\/b><\/p>\n<p>\nSegment Adjusted EBITDAR is our measure of profit or loss for our reportable segments and underlying operating segments. We define Segment Adjusted EBITDAR as earnings before interest expense, net, interest income, income taxes, depreciation and amortization, stock-based compensation, debt extinguishment charges, impairment losses, insurance recoveries, net of deductible charges, changes in the estimated fair value of our contingent purchase price obligations, gain or loss on disposal of assets, the difference between budget and actual expense for cash-settled stock-based awards, pre-opening expenses, loss on disposal of a business, non-cash gains\/losses associated with REIT transactions, and other. Segment Adjusted EBITDAR excludes rent expense associated with triple net operating leases (which is a normal, recurring cash operating expense necessary to operate our business). Segment Adjusted EBITDAR is inclusive of income or loss from unconsolidated affiliates, with our share of non-operating items (such as interest expense, net, and depreciation and amortization) added back for our Kansas Entertainment, LLC joint venture. Segment Adjusted EBITDAR margin is Segment Adjusted EBITDAR divided by related segment revenues.<\/p>\n<p>\n<b>Non-GAAP Financial Measures<\/b><\/p>\n<p>\nThe Non-GAAP Financial Measures used in this press release include Consolidated Adjusted EBITDA, Adjusted EPS, Traditional net debt, Traditional net leverage ratio, and Lease-adjusted net leverage ratio. These non-GAAP financial measures should not be considered a substitute for, nor superior to, financial results and measures determined or calculated in accordance with GAAP.<\/p>\n<p>\nWe define Consolidated Adjusted EBITDA as earnings before interest expense, net, interest income, income taxes, depreciation and amortization, stock-based compensation, debt extinguishment charges, impairment losses, insurance recoveries, net of deductible charges, changes in the estimated fair value of our contingent purchase price obligations, gain or loss on disposal of assets, the difference between budget and actual expense for cash-settled stock-based awards, pre-opening expenses, loss on disposal of a business, non-cash gains\/losses associated with REIT transactions, and other. Consolidated Adjusted EBITDA is inclusive of income or loss from unconsolidated affiliates, with our share of non-operating items (such as interest expense, net, and depreciation and amortization) added back for our Kansas Entertainment, LLC joint venture. Consolidated Adjusted EBITDA is inclusive of rent expense associated with our triple net operating leases with our REIT landlords. Although Consolidated Adjusted EBITDA includes rent expense associated with our triple net operating leases, we believe Consolidated Adjusted EBITDA is useful as a supplemental measure in evaluating the performance of our consolidated results of operations.<\/p>\n<p>\nConsolidated Adjusted EBITDA has economic substance because it is used by management as a performance measure to analyze the performance of our business, and is especially relevant in evaluating large, long-lived casino-hotel projects because it provides a perspective on the current effects of operating decisions separated from the substantial non-operational depreciation charges and financing costs of such projects. We present Consolidated Adjusted EBITDA because it is used by some investors and creditors as an indicator of the strength and performance of ongoing business operations, including our ability to service debt, and to fund capital expenditures, acquisitions, and operations. These calculations are commonly used as a basis for investors, analysts and credit rating agencies to evaluate and compare operating performance and value companies within our industry. In order to view the operations of their casinos on a more stand-alone basis, gaming companies, including us, have historically excluded from their Consolidated Adjusted EBITDA calculations certain corporate expenses that do not relate to the management of specific casino properties. However, Consolidated Adjusted EBITDA is not a measure of performance or liquidity calculated in accordance with GAAP. Consolidated Adjusted EBITDA information is presented as a supplemental disclosure, as management believes that it is a commonly used measure of performance in the gaming industry and that it is considered by many to be a key indicator of the Company\u2019s operating results.<\/p>\n<p>\nAdjusted EPS is diluted earnings or loss per share adjusted to exclude gains\/losses on the disposal of a business, non-cash gains\/losses associated with REIT transactions, impairment losses, pre-opening expenses, debt extinguishment charges, gains\/losses on the disposal of assets, foreign currency gains\/losses, transaction related expenses, business interruption insurance proceeds, net gains\/losses related to equity investments, and other.<\/p>\n<p>\nAdjusted EPS is a non-GAAP measure and is presented solely as a supplemental disclosure to reported GAAP measures because management believes this measure is useful in providing period-to-period comparisons of the results of the Company\u2019s operations to assist investors in reviewing the Company\u2019s operating performance over time. Management believes it is useful to exclude certain items when comparing current performance to prior periods because these items can vary significantly depending on specific underlying transactions or events. Further, management believes certain excluded items may not relate specifically to current operating trends or be indicative of future results. Adjusted EPS should not be construed as an alternative to GAAP earnings per share as an indicator of the Company\u2019s performance.<\/p>\n<p>\nWe calculate Traditional net debt as Total traditional debt, which is the principal amount of debt outstanding less Cash and cash equivalents. Management believes that Traditional net debt is an important measure to monitor leverage and evaluate the balance sheet. With respect to Traditional net debt, Cash and cash equivalents are subtracted from the GAAP measure because they could be used to reduce the Company\u2019s debt obligations. A limitation associated with using Traditional net debt is that it subtracts Cash and cash equivalents and therefore may imply that there is less Company debt than the most comparable GAAP measure indicates. Management believes that investors may find it useful to monitor leverage and evaluate the balance sheet.<\/p>\n<p>\nThe Company\u2019s Traditional net leverage ratio is defined as Traditional net debt (as defined above) divided by (i) Consolidated Adjusted EBITDA (as defined above) for the trailing twelve months plus (ii) rent expense associated with triple net operating leases for the trailing twelve months less (iii) cash rent payments to REIT landlords for the trailing twelve months. Management believes this measure is useful as a supplemental measure and provides an indication of the results generated by the Company in relation to its level of indebtedness with the cash generated from Company operations.<\/p>\n<p>\nThe Company\u2019s Lease-adjusted net leverage ratio\u2019s numerator is calculated as cash rent payments to REIT landlords for the trailing twelve months capitalized at 8 times plus Traditional net debt (as defined above). The Company\u2019s Lease-adjusted net leverage ratio\u2019s denominator is Consolidated Adjusted EBITDA (as defined above) for the trailing twelve months plus rent expense associated with triple net operating leases for the trailing twelve months. Management believes this measure is useful as a supplemental measure and provides an indication of the results generated by the Company in relation to its level of indebtedness (including leases) with the cash generated from Company operations.<\/p>\n<p>\nEach of these non-GAAP financial measures is not calculated in the same manner by all companies and, accordingly, may not be an appropriate measure of comparing performance among different companies. See the tables above, which present reconciliations of these measures to the GAAP equivalent financial measures.<\/p>\n<p>\n<b>Management Presentation, Conference Call, Webcast and Replay Details<\/b><\/p>\n<p>\nPENN is hosting a conference call and simultaneous webcast at 8:00 a.m. E.T. today, both of which are open to the general public. During the call, management will review a presentation regarding the quarter and recent developments that can be accessed at <a target=\"_blank\" rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Finvestors.pennentertainment.com%2Fevents-and-presentations%2Fpresentations&amp;esheet=54521050&amp;newsitemid=20260423409685&amp;lan=en-US&amp;anchor=http%3A%2F%2Finvestors.pennentertainment.com%2Fevents-and-presentations%2Fpresentations&amp;index=1&amp;md5=78d6aa88f0fd3fa303e39fd2d5cdf508\"><i>http:\/\/investors.pennentertainment.com\/events-and-presentations\/presentations<\/i><\/a>.<\/p>\n<p>\nThe conference call number is 785-424-1699 (conference ID: PENN); please call five minutes in advance to ensure that you are connected prior to the presentation. Interested parties may also access the live call at <a target=\"_blank\" rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.pennentertainment.com&amp;esheet=54521050&amp;newsitemid=20260423409685&amp;lan=en-US&amp;anchor=www.pennentertainment.com&amp;index=2&amp;md5=8fcd276246483fc016efc97f1f278a04\"><i>www.pennentertainment.com<\/i><\/a>; allow 15 minutes to register, download, and install any necessary software. Questions and answers will be reserved for call-in analysts and investors. A replay of the call can be accessed for thirty days at<i> <\/i><a target=\"_blank\" rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.pennentertainment.com&amp;esheet=54521050&amp;newsitemid=20260423409685&amp;lan=en-US&amp;anchor=http%3A%2F%2Fwww.pennentertainment.com&amp;index=3&amp;md5=6584950eb7db56fa0376157de69c647f\"><i>http:\/\/www.pennentertainment.com<\/i><\/a>.<\/p>\n<p>\nThis press release, which includes financial information to be discussed by management during the conference call and disclosure and reconciliation of non-GAAP financial measures, is available on the Company\u2019s web site, <a target=\"_blank\" rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.pennentertainment.com%2Fcorp%2Finvestors&amp;esheet=54521050&amp;newsitemid=20260423409685&amp;lan=en-US&amp;anchor=http%3A%2F%2Fwww.pennentertainment.com%2Fcorp%2Finvestors&amp;index=4&amp;md5=8139eaadf0f8a0b43ff0a72d2826221f\"><i>http:\/\/www.pennentertainment.com\/corp\/investors<\/i><\/a> (select link for \u201cPress Releases\u201d).<\/p>\n<p>\n<b>About PENN Entertainment, Inc.<\/b><\/p>\n<p>\nPENN Entertainment, Inc., together with its subsidiaries (\u201cPENN,\u201d or the \u201cCompany,\u201d \u201cwe,\u201d \u201cour,\u201d or \u201cus\u201d), operates in 27 jurisdictions throughout North America, with a broadly diversified portfolio of casinos, racetracks, and online sports betting and iCasino offerings. PENN\u2019s focus is on organic cross-sell opportunities, reinforced by its market-leading retail casinos, sports media assets and technology, including a proprietary state-of-the-art, fully integrated digital sports betting and iCasino platform, and an in-house iCasino content studio. The Company\u2019s portfolio is further bolstered by its industry-leading PENN Play<img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/17.0.2\/72x72\/2122.png\" alt=\"\u2122\" class=\"wp-smiley\" \/> customer loyalty program, offering its approximately 34 million members a unique set of rewards and experiences.<\/p>\n<p>\n<b>Forward Looking Statements<\/b><\/p>\n<p>\nThis press release contains \u201cforward-looking statements\u201d within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward-looking terminology such as \u201cexpects,\u201d \u201cbelieves,\u201d \u201cestimates,\u201d \u201cprojects,\u201d \u201cintends,\u201d \u201cplans,\u201d \u201cgoal,\u201d \u201cseeks,\u201d \u201cmay,\u201d \u201cwill,\u201d \u201cshould,\u201d \u201clook forward to,\u201d or \u201canticipates\u201d or the negative or other variations of these or similar words, or by discussions of future events, strategies or risks and uncertainties.<\/p>\n<p>\nSpecifically, forward-looking statements include, but are not limited to, statements regarding: the Company\u2019s expectations of future results of operations and financial condition, including, but not limited to, projections of revenue, Segment Adjusted EBITDAR, Consolidated Adjusted EBITDA, and other financial measures; the assumptions provided regarding the guidance, including the scale and timing of the Company\u2019s product and technology investments; the Company\u2019s expectations regarding cash flow generation and near-term deleveraging; the Company\u2019s expectations regarding results and customer growth and the impact of competition in retail\/mobile\/online sportsbooks (including prediction markets), iCasino, social gaming, and retail operations; the Company\u2019s development and launch of its Interactive segment\u2019s products in new jurisdictions and enhancements to existing Interactive segment products; the future success of theScore Bet, Hollywood iCasino and its other digital offerings; the Company\u2019s expectations that its portfolio of assets provides a benefit of geographically-diversified cash flows from operations; management\u2019s plans and strategies for future operations, including statements relating to the Company\u2019s plan to expand gaming operations through the implementation and execution of a disciplined capital expenditure program at our existing properties, the pursuit of strategic acquisitions and investments, and the development of new gaming properties, including the development projects and the anticipated benefits; improvements, expansions, or relocations of our existing properties; entrance into new jurisdictions; expansion of gaming in existing jurisdictions; strategic investments and acquisitions; cross-sell opportunities between our retail gaming, online sports betting (\u201cOSB\u201d), and iCasino businesses; our ability to obtain financing for our development projects on attractive terms; the timing, cost and expected impact of planned capital expenditures on the Company\u2019s results of operations; and the actions of regulatory, legislative, executive, or judicial decisions at the federal, state, provincial, or local level with regard to our business and the impact of any such actions.<\/p>\n<p>\nSuch statements are all subject to risks, uncertainties and changes in circumstances that could significantly affect the Company\u2019s future financial results and business. Accordingly, the Company cautions that the forward-looking statements contained herein are qualified by important factors that could cause actual results to differ materially from those reflected by such statements. Such factors include: the effects of economic and market conditions in the markets in which the Company operates or otherwise, including the impact of global supply chain disruptions, price inflation, changes in interest rates, economic downturns, changes in trade policies, and geopolitical and regulatory uncertainty; competition with other retail and online gaming and sports betting, entertainment and sports content experiences; the timing, cost and expected impact of product and technology investments; risks relating to operations, permits, licenses, financings, approvals and other contingencies in connection with growth in new or existing jurisdictions; our ability to successfully acquire and integrate new properties and operations and achieve expected synergies from acquisitions; the availability of future borrowings under our Amended Credit Facilities or other sources of capital to enable us to service our indebtedness, make anticipated capital expenditures or pay off or refinance our indebtedness prior to maturity; the impact of indemnification obligations under the Barstool SPA; our ability to realize the anticipated benefits of our realigned digital strategy; our ability to attract and retain user adoption of theScore Bet and Hollywood iCasino apps in a rapidly evolving and highly competitive market; the outcome of any legal proceedings that may be instituted against the Company, or its respective directors, officers or employees; the ability of the Company to retain and hire key personnel; the impact of new or changes in current laws, regulations, rules or other industry standards; adverse outcomes of litigation involving the Company; our ability to maintain our gaming licenses and concessions and comply with applicable gaming law, changes in current laws, regulations, rules or other industry standards, and additional factors described in the Company\u2019s Annual Report on Form 10-K for the year ended December 31, 2025, subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, each as filed with the U.S. Securities and Exchange Commission. The Company does not intend to update publicly any forward-looking statements except as required by law. Considering these risks, uncertainties and assumptions, the forward-looking events discussed in this press release may not occur.<\/p>\n<\/div>\n<p><em> \u2018 The preceding article may include information circulated by third parties \u2019 <\/em><\/p>\n<p><em> \u2018 Some details of this article were extracted from the following source www.businesswire.com \u2019 <\/em><\/p>\n<p><em> \u2018 O artigo anterior foi obtido e traduzido do site internacional da celebrity.land   \u2019 Source Link <\/em><\/p>\n\n","protected":false},"excerpt":{"rendered":"<p>WYOMISSING, Pa.&#8211;(BUSINESS WIRE)&#8211;PENN Entertainment, Inc. (\u201cPENN\u201d or the \u201cCompany\u201d) (Nasdaq: PENN) today reported financial results for the quarter ended March 31, 2026. Jay Snowden, Chief Executive Officer and President, said: \u201cWe are pleased to report another solid quarter. Retail Segment Adjusted EBITDAR grew year-over-year and stable trends are carrying into April. In our Interactive segment, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1716154,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_counter":[],"footnotes":""},"categories":[45],"tags":[],"class_list":["post-1716153","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-entretenimento"],"_links":{"self":[{"href":"https:\/\/celebrity.land\/pt\/wp-json\/wp\/v2\/posts\/1716153","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/celebrity.land\/pt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/celebrity.land\/pt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/celebrity.land\/pt\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/celebrity.land\/pt\/wp-json\/wp\/v2\/comments?post=1716153"}],"version-history":[{"count":1,"href":"https:\/\/celebrity.land\/pt\/wp-json\/wp\/v2\/posts\/1716153\/revisions"}],"predecessor-version":[{"id":1716155,"href":"https:\/\/celebrity.land\/pt\/wp-json\/wp\/v2\/posts\/1716153\/revisions\/1716155"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/celebrity.land\/pt\/wp-json\/wp\/v2\/media\/1716154"}],"wp:attachment":[{"href":"https:\/\/celebrity.land\/pt\/wp-json\/wp\/v2\/media?parent=1716153"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/celebrity.land\/pt\/wp-json\/wp\/v2\/categories?post=1716153"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/celebrity.land\/pt\/wp-json\/wp\/v2\/tags?post=1716153"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}