Company Overview - PENN Entertainment, incorporated in Pennsylvania in 1982, is a leading multi-jurisdictional owner and manager of gaming and racing facilities, focusing on slot machine entertainment [11] - The company has a geographically widespread portfolio and was publicly traded under its current name since 1994 [11] Investment Ratings - PENN is currently rated 3 (Hold) on the Zacks Rank, indicating a neutral outlook [12] - The company has a VGM Score of A, suggesting strong overall performance across value, growth, and momentum metrics [12] Growth Potential - PENN is considered a top pick for growth investors, with a Growth Style Score of B, forecasting year-over-year earnings growth of 117.5% for the current fiscal year [12] - Recent analyst activity shows two analysts have revised their earnings estimates upwards for fiscal 2026, with the Zacks Consensus Estimate increasing by $0.13 to $1.02 per share [12] - The company has demonstrated an average earnings surprise of +93.6%, indicating strong performance relative to expectations [12] Conclusion - With a solid Zacks Rank and top-tier Growth and VGM Style Scores, PENN is recommended for investors' consideration [13]

Company Overview - PENN Entertainment was incorporated in Pennsylvania in 1982 and became publicly traded in 1994, focusing on gaming and racing facilities with a strong emphasis on slot machine entertainment [11] - The company operates across multiple jurisdictions and has a diverse portfolio of gaming facilities [11] Zacks Rank and Style Scores - PENN is currently rated 3 (Hold) on the Zacks Rank, indicating a neutral outlook [12] - The company has a VGM Score of A, suggesting it has attractive value, growth, and momentum characteristics [12] - PENN's Growth Style Score is also A, forecasting a significant year-over-year earnings growth of 118.5% for the current fiscal year [12] Earnings Estimates and Performance - In the last 60 days, two analysts have revised their earnings estimates upwards, with the Zacks Consensus Estimate increasing by $0.18 to $1.08 per share [12] - PENN has demonstrated an average earnings surprise of +93.6%, indicating strong performance relative to expectations [12] Investment Consideration - With a solid Zacks Rank and top-tier Growth and VGM Style Scores, PENN is recommended as a potential investment opportunity for growth investors [13]

March 3, 2026 Forward-Looking Statements Certain statements made in this presentation contain various "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are typically identified by the use of terms such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "might," "plan," "predict," "project," "seek," "should," "will," "scheduled," and similar words or similar expressions ( ...

Core Viewpoint - PENN Entertainment, Inc. is set to report its fourth-quarter 2025 results on February 26, with expectations of a revenue increase of 5.1% year-over-year to $1.75 billion, despite a projected loss per share of 21 cents, an improvement from a loss of 44 cents in the prior-year quarter [1][2][9] Revenue Expectations - The Zacks Consensus Estimate for PENN's fourth-quarter revenues is $1.75 billion, reflecting a 5.1% increase compared to the previous year [2][9] - Revenue estimates for specific segments include $693 million for the Northeast, $302 million for the Midwest, $135 million for the West, and $282 million for the South, indicating growth in the Northeast and Midwest while the South is expected to decline slightly [5][6] Factors Influencing Results - PENN is anticipated to achieve year-over-year revenue growth due to stable demand across its retail portfolio, particularly in markets unaffected by new supply, along with strong visitation trends and spending per visit [3] - The opening of Hollywood Casino Joliet is expected to contribute positively to revenues, supported by strong database growth and an improved customer mix [4] Digital Revenue Growth - Digital revenues are projected to benefit from the ongoing success of the North American iCasino business, which has been achieving record gaming revenue levels, aided by cross-selling from online sports betting [4] - Enhanced product features and retention initiatives across interactive platforms are expected to improve customer engagement, particularly during the football season [5] Margin Expectations - The company is expected to show improved margin efficiency as it transitions from the high-cost ESPN Bet marketing agreement to a more cost-effective platform, which should enhance overall profitability visibility [7] - However, near-term margins may face pressure from elevated promotional spending, competitive intensity, and other costs related to the transition and ongoing development [8]

Core Insights - Churchill Downs Incorporated (CDI) is set to open its eighth premier historical racing entertainment venue, Marshall Yards, in Kentucky on February 25, 2026 [1][2] Company Overview - CDI has been creating entertainment experiences for over 150 years, with its most iconic asset being the Kentucky Derby [3] - The company is headquartered in Louisville, Kentucky, and has expanded through acquisitions and the operation of live and historical racing venues, online wagering businesses, and regional casino gaming properties [3] Venue Details - Marshall Yards will feature a 23,000 square foot facility with 225 historical racing machines, a sports bar, simulcast and sports wagering options, and various food and beverage offerings [2] - The venue aims to support purse funding for race meets at Oak Grove Racing, Gaming & Hotel in Oak Grove, Kentucky [2] Economic Impact - The opening of Marshall Yards is expected to create new jobs, drive tourism, and enhance the economic vitality of Marshall County and surrounding communities [3]

Core Viewpoint - Churchill Downs Incorporated (CDI) announced the Victory Run project, a significant growth initiative aimed at enhancing the hospitality and seating experience at the Churchill Downs Racetrack, set to replace outdated facilities with a modern structure [3][4][5]. Project Overview - Victory Run will be a four-story structure located at the first turn of the racetrack, featuring premium hospitality experiences, private suites, indoor and outdoor dining, and covered box seating [4]. - The project will increase seating capacity from approximately 6,400 existing seats to about 7,800 premium seats [4]. Financial Aspects - CDI plans to invest between $280 million and $300 million in the Victory Run project [5]. - The construction is anticipated to begin after the 2026 Kentucky Derby and be completed by the 2028 Kentucky Derby, with interim upgraded seating available for the 2027 Kentucky Derby [5]. Strategic Importance - The CEO of CDI, Bill Carstanjen, emphasized that the Victory Run project will significantly improve guest experiences and contribute to long-term growth and shareholder value [6].

Core Insights - Strategic Gaming Management, LLC (SGM) has completed the acquisition of Sunland Park Racetrack & Casino for $301 million, followed by a sale-leaseback transaction with Gaming and Leisure Properties, Inc. [1][2] - This acquisition marks SGM's third purchase in two years, enhancing its portfolio of regional gaming assets with strong customer bases and competitive advantages [2] - The new leadership appointments include Matthew Flandermeyer as CFO and Fred Heinrich as President of Sunland Park, both expected to drive growth and operational success [3][4] Acquisition Details - The acquisition of Sunland Park includes 738 slots and 12 electronic gaming terminals across 25,000 square feet of gaming space, along with a 1-mile Thoroughbred and Quarter Horse track [2] - Sunland Park is recognized as a leading property in the New Mexico Gaming and Racing ecosystem and hosts the prestigious Sunland Park Derby [2] Leadership Changes - Matthew Flandermeyer, previously CFO of Golden Entertainment, brings extensive financial leadership experience to SGM, having overseen significant growth during his tenure [3] - Fred Heinrich, who has served as General Counsel & Compliance Officer, will now oversee operations and strategic direction at Sunland Park [4] Company Background - Strategic Gaming Management, LLC operates four properties across Nevada, South Dakota, and New Mexico, focusing on high-quality gaming assets [5] - Founded in 2009 by J. Grant Lincoln, the company has a history of growth and acquisitions, positioning itself as a significant player in the regional gaming market [5]

Core Insights - Zacks Premium offers tools for investors to enhance their stock market engagement and confidence, including daily updates, research reports, and stock screens [1][2] Zacks Style Scores - Zacks Style Scores are indicators that rate stocks based on value, growth, and momentum methodologies, helping investors identify stocks likely to outperform the market in the next 30 days [2][3] - Each stock receives a rating from A to F, with A indicating the highest potential for outperformance [3] Value Score - The Value Score focuses on identifying undervalued stocks using financial ratios such as P/E, PEG, and Price/Sales to find attractive investment opportunities [3] Growth Score - The Growth Score assesses a company's future prospects by analyzing projected and historical earnings, sales, and cash flow to identify stocks with sustainable growth potential [4] Momentum Score - The Momentum Score helps investors capitalize on price trends by evaluating recent price changes and earnings estimate revisions to identify favorable buying opportunities [5] VGM Score - The VGM Score combines the Value, Growth, and Momentum Scores to identify stocks with the best overall characteristics, serving as a strong indicator alongside the Zacks Rank [6] Zacks Rank - The Zacks Rank is a proprietary model that uses earnings estimate revisions to guide investors in building successful portfolios, with 1 (Strong Buy) stocks historically yielding an average annual return of +23.75% since 1988 [7][10] - Stocks with a Zacks Rank of 1 or 2 and Style Scores of A or B are recommended for maximizing return potential [9] Company Spotlight: PENN Entertainment - PENN Entertainment, established in 1982, is a prominent owner and manager of gaming and racing facilities, focusing on slot machine entertainment [11] - Currently rated 3 (Hold) by Zacks, PENN has a VGM Score of A and a Momentum Style Score of B, with shares increasing by 1.4% over the past month [12] - Recent upward revisions in earnings estimates for fiscal 2025 have led to a consensus estimate increase of $0.32 to $0.72 per share, with an average earnings surprise of +92.7% [12][13]

Core Insights - Zacks Premium offers various tools for investors to enhance their stock market strategies and confidence [1] - The Zacks Style Scores are designed to complement the Zacks Rank, helping investors identify stocks likely to outperform the market in the short term [2] Zacks Style Scores Overview - Stocks are rated from A to F based on value, growth, and momentum characteristics, with higher scores indicating a better chance of outperforming the market [3] - The Style Scores are categorized into four types: Value Score, Growth Score, Momentum Score, and VGM Score, each focusing on different investment strategies [3][4][5][6] Value Score - The Value Score identifies attractive and discounted stocks using various financial ratios such as P/E, PEG, and Price/Sales [3] Growth Score - The Growth Score assesses a company's financial health and future outlook by analyzing projected and historical earnings, sales, and cash flow [4] Momentum Score - The Momentum Score helps investors capitalize on price trends, utilizing factors like one-week price changes and monthly earnings estimate changes [5] VGM Score - The VGM Score combines the three Style Scores to identify companies with the best value, growth potential, and momentum [6] Zacks Rank Integration - The Zacks Rank is a proprietary model based on earnings estimate revisions, with 1 (Strong Buy) stocks achieving an average annual return of +23.62% since 1988, significantly outperforming the S&P 500 [7][8] - To maximize returns, investors should focus on stocks with a Zacks Rank of 1 or 2 and Style Scores of A or B [9] Company Spotlight: PENN Entertainment - PENN Entertainment, established in 1982, is a leading operator of gaming and racing facilities, with a diverse portfolio [11] - Currently rated 3 (Hold) by Zacks, PENN has a VGM Score of A and a Momentum Style Score of A, with shares increasing by 5.3% over the past four weeks [12] - Analysts have revised PENN's earnings estimate upwards, with the Zacks Consensus Estimate rising from $0.65 to $0.69 per share, and the company has an average earnings surprise of +13.5% [12][13]

Company Overview - PENN Entertainment, incorporated in Pennsylvania in 1982, is a leading multi-jurisdictional owner and manager of gaming and racing facilities, focusing on slot machine entertainment [12] - The company has a geographically widespread portfolio and operates video gaming terminal operations [12] Zacks Rank and Style Scores - PENN is currently rated 3 (Hold) on the Zacks Rank, indicating a neutral outlook [13] - The company has a VGM Score of B, reflecting a combination of value, growth, and momentum characteristics [13] - PENN's Value Style Score is also B, supported by attractive valuation metrics such as a forward P/E ratio of 25.8, which may appeal to value investors [13] Earnings Estimates and Performance - In the last 60 days, five analysts have revised their earnings estimates for PENN upwards, with the Zacks Consensus Estimate increasing from $0.65 to $0.69 per share for fiscal 2025 [13] - PENN has demonstrated an average earnings surprise of +13.5%, indicating a history of exceeding earnings expectations [13] Investment Consideration - With a solid Zacks Rank and strong Value and VGM Style Scores, PENN is suggested to be on investors' short lists for potential investment opportunities [14]