Needham analyst Bernie McTernan expressed his view on PENN Entertainment, Inc. PENN investor event in Las Vegas on Monday. At the event, Penn said it expects third-quarter retail operations adjusted EBITDAR to be in the range of $465 million to $475 million. The company also raised its interactive adjusted EBITDA guidance for the third quarter. Penn anticipates a loss of $90 million to $100 million, up from prior guidance for a loss of $115 million to $135 million. The company noted that improving products ...

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PENN Entertainment Inc. NASDAQ: PENN is an integrated entertainment experience provider encompassing land-based casinos, iGaming, digital sports betting, racetracks and hotels. The company operates 43 casinos and racetracks in 20 states, along with sports betting through its ESPN BET mobile app in 18 states. With NFL football season underway, the company's rebranded ESPN BET will be put to the test. This is the first full NFL season that the $1.5 billion 10-year branding deal with the Walt Disney Co. NYSE: ...

JasonDoiy/E+ via Getty Images PENN Entertainment, Inc. (NASDAQ:PENN), the operator of regional casinos and online sports betting site ESPN Bet, is currently very cheap compared to peers in its industry. Especially, growth at ESPN Bet could lead to outperformance, with several key growth drivers coalescing in the third quarter. Investors might be overlooking PENN Entertainment's potential, particularly as its new ESPN Bet platform is primed to leverage ESPN's expansive media reach and unique brand loyalty. D ...

Shares of PENN Entertainment, Inc. (PENN) have moved down 28.5% year to date against the Zacks Gaming industry's 7.3% growth and the S&P 500's rise of 19.6%. The company also underperformed other industry players like DoubleDown Interactive Co., Ltd. (DDI) , PlayAGS, Inc. (AGS) and Red Rock Resorts, Inc. (RRR) , which surged 98.1%, 34.3% and 9.3%, respectively, in the said period. The substantial decline in PENN's shares raises questions about whether it is the right time to buy at a lower price or if inves ...

PENN Entertainment, Inc. (PENN) reported a narrower-than-expected loss in second-quarter 2024 results. The top and the bottom line surpassed the Zacks Consensus Estimate but declined on a year-over-year basis. PENN's quarterly performance was hampered by disappointing results from its South and Interactive segments. However, improved top-of-funnel growth, better risk management and enhanced promotional strategies led to stronger-than-expected revenues and Adjusted EBITDA in the Interactive segment. The comp ...

For the quarter ended June 2024, PENN Entertainment (PENN) reported revenue of $1.66 billion, down 0.7% over the same period last year. EPS came in at -$0.18, compared to $0.48 in the year-ago quarter. The reported revenue represents a surprise of +0.86% over the Zacks Consensus Estimate of $1.65 billion. With the consensus EPS estimate being -$0.27, the EPS surprise was +33.33%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to dete ...

PENN Entertainment (PENN) came out with a quarterly loss of $0.18 per share versus the Zacks Consensus Estimate of a loss of $0.27. This compares to earnings of $0.48 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 33.33%. A quarter ago, it was expected that this casino operator would post a loss of $0.59 per share when it actually produced a loss of $0.79, delivering a surprise of -33.90%. Over the last four quarters, the co ...

The ESPN Bet app on a smartphone arranged in New York, US, on Thursday, Feb. 22, 2024. CEO Jay Snowden told staff members in an internal email that the changes will enhance operational efficiencies following its 2021 acquisition of Canadian media and gaming powerhouse theScore. "When PENN acquired theScore, we hit the ground running with the build-out of our proprietary tech stack and the migration of our sportsbook to theScore's best-in-class-platform," Snowden wrote in the memo, which was seen by CNBC. "T ...

Erin Chamberlin joins Topgolf as Chief Operating Officer on July 22Erin Chamberlin joins Topgolf as Chief Operating Officer on July 22 Chamberlin comes to Topgolf with over 20 years of progressive experience operating large, consumer-facing organizations in highly competitive markets. During her time at PENN, Erin oversaw operational responsibility for nine of the company's network of casinos across the country, supervised PENN's horse racing operations and was the Chair of PENN Women resource group. Prior ...