David Baileys PENN Entertainment, Inc. (NASDAQ:PENN) took another beating after the company's Q4 earnings report missed expectations. For long-suffering investors in the stock, it was another disappointment- with the cash flow from the company's profitable casino assets overwhelmed yet again by losses in speculative business ventures and acquisitions. PENN bet big on ESPN BET, and while the company saw a ton of downloads and bet activity, their profits weren't quite as expected, and the state-by-state rollo ...

EricVega A couple of weeks ago, PENN Entertainment (NASDAQ:PENN) reported fourth quarter earnings that disappointed investors. The gaming and entertainment company saw its shares fall in response, and the selloff intensified last week to new 52-week lows. Based on the company's recent financials along with projections for the next two years, I believe there is a good opportunity to enter a long position in Penn by selling $15 put options. PENN Entertainment's full year 2023 earnings were disappointing. The ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number 0-24206 PENN Entertainment, Inc. (Exact name of registrant as specified in its charter) Pennsylva ...

Gaming facilities and technology company Penn Entertainment (PENN -4.02%) had a forgettable week on the stock exchange. According to data compiled by S&P Global Market Intelligence, the company's shares tumbled by more than 20% in value over the period. The main reason was abundantly clear.A pair of fourth-quarter monster missesThe No. 1 culprit was Penn Entertainment's fourth-quarter earnings, which were published before market open on Thursday. These revealed that the company's revenue fell by 12% year ov ...

PENN Entertainment, Inc. (PENN) reported a wider-than-expected loss in the fourth-quarter 2023 results. Both the bottom and top lines saw a year-over-year decrease. This decline was primarily attributed to the sale of Barstool and losses incurred during the relaunch of an online betting venture ESPN BET, both of which significantly impacted the quarterly financial performance.Following the results, the company’s shares lost 13.8% during trading hours on Feb 15.Earnings & Revenue DiscussionIn the quarter und ...

Regional gaming giant Penn Entertainment (PENN -15.76%) reported fourth-quarter 2023 financial results and the market didn't like what it saw. Shares fell as much as 15.8% in trading on Thursday and were still down 14.2% at 2:30 p.m. ET.The terrible quarterRevenue fell from $1.59 million a year ago to $1.40 billion, and Penn Entertainment lost $358.8 million, or $2.37 per share. Most of the revenue drop was related to the sale of Barstool and losses related to relaunching an online betting business under th ...

For the quarter ended December 2023, PENN Entertainment (PENN) reported revenue of $1.4 billion, down 12% over the same period last year. EPS came in at -$1.75, compared to $0.13 in the year-ago quarter.The reported revenue represents a surprise of -9.65% over the Zacks Consensus Estimate of $1.54 billion. With the consensus EPS estimate being -$0.57, the EPS surprise was -207.02%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall ...

ESPN Bet is coming to the Big Apple.Penn Entertainment, which operates the sports betting platform, will pay Wynn Resorts $25 million for market access, it said Tuesday. It's the same amount Wynn paid New York state to operate there.Wynn Interactive, a subsidiary of Wynn Resorts, was awarded a New York mobile sports betting license in 2021. Penn was not — and it has missed out on the action from the nation's largest sports betting market.In the two years since New York launched online sports betting, at lea ...

PENN Entertainment, Inc. (PENN) is scheduled to report fourth-quarter 2023 results on Feb 15, 2023 before the opening bell. In the last reported quarter, the company delivered an earnings surprise of 266.7%.Q4 EstimatesThe Zacks Consensus Estimate is pegged at a loss of 57 cents per share. In the prior-year quarter, it reported adjusted earnings per share of 13 cents. The consensus mark for revenues is pegged at $1.54 billion, suggesting a decline of 2.6% from the year-ago quarter.Factors to NotePENN Entert ...

WYOMISSING, Pa.--(BUSINESS WIRE)--PENN Entertainment, Inc. (“PENN” or the “Company”) (Nasdaq: PENN) announced today that it has reached an agreement with Wynn Interactive Holdings to acquire its New York mobile sports wagering licenses, providing PENN with market access to the jurisdiction. Pending regulatory approvals, PENN will launch its online sports wagering product, ESPN BET, in New York in 2024. As part of the transaction, PENN is acquiring WSI US, LLC, from Wynn Interactive Holdings for $25 milli ...