Penn Ent Stock Price, News & Analysis

Penn National Gaming will announce its Q3 2021 financial results on November 4, 2021, at 7:00 a.m. ET. A conference call will follow at 9:00 a.m. ET, accessible to the public via a dedicated call number (212/231-2938) and webcast at www.pngaming.com. Penn National operates 43 properties in 20 states and is known for its diversified gaming and sports betting offerings. The company recently acquired Score Media and Gaming, enhancing its digital sports content capabilities.

Penn National Gaming has announced the opening of a career center to fill approximately 375 new jobs at its upcoming Hollywood Casino Morgantown, expected to open by year-end 2021, pending approvals. The center will operate Monday to Friday, with hiring events scheduled on September 8, 10, 13, and 15. The casino represents an investment of $111 million, featuring 750 slot machines and more. New hires may receive sign-on bonuses up to $1,500. The company emphasizes growth and opportunities within its expanding operations.

Acres Manufacturing Company announced that its Foundation™ casino management system is facilitating cashless gaming at Penn National Gaming's new Hollywood Casino York in Pennsylvania. Following prior installations, Foundation™ will further be deployed at additional Penn National casinos as regulatory approvals are obtained. The system integrates with Penn National's mychoice wallet, powered by Everi Holdings' CashClub Wallet, enabling secure transactions for players on the casino floor. The technology aims to enhance player experience through real-time behavior data and seamless cashless gaming.

Everi Holdings has announced the launch of its CashClub Wallet® technology at Penn National Gaming's Hollywood Casino York in Pennsylvania. This digital wallet enables cashless transactions, allowing guests to deposit funds via debit or credit cards and access them directly at gaming machines. The partnership includes plans for broader implementation across Penn National's properties pending regulatory approval. The technology aims to enhance guest convenience and operational efficiency while integrating with Penn National's mychoice loyalty program.

Penn National Gaming, Inc. (Nasdaq: PENN) has announced a definitive agreement to acquire Score Media and Gaming, Inc. (theScore) for approximately US$2 billion in cash and stock. Shareholders of theScore will receive US$17 in cash plus 0.2398 shares of Penn National common stock, totaling US$34 per share based on a recent trading price. The deal, expected to close in Q1 2022, will create a sports and gaming ecosystem in North America and improve Penn National's technology stack. The acquisition is anticipated to bring significant adjusted EBITDA growth, with a medium-term increase of over $200 million.

Penn National Gaming has announced its acquisition of Score Media and Gaming for approximately US$2.0 billion in a cash and stock deal. TheScore shareholders will receive US$17.00 in cash plus 0.2398 shares of Penn National for each share held, totaling US$34.00 per share. The agreement aims to enhance Penn National's digital media and sports betting capabilities and is expected to close in Q1 2022. The transaction is projected to generate over $200 million in adjusted EBITDA by Year 2 and up to $500 million in long-term upside, leveraging theScore's technology and user analytics.

Penn National Gaming reported strong financial results for Q2 2021, with revenues of $1,545.8 million, an increase of $1,240 million year over year. The net income was $198.7 million with a net income margin of 12.9%, a turnaround from a net loss of $214.4 million in 2020. Adjusted EBITDA also rose significantly to $470.1 million. The company announced a definitive agreement to acquire Score Media and Gaming, expected to add $200 million in adjusted EBITDA by Year 2, enhancing its position in the digital sports betting market.

Penn National Gaming (Nasdaq: PENN) announced the anticipated opening of Hollywood Casino York on August 12, pending regulatory approvals. This Category 4 casino, located within the York Galleria Mall, will be the company's third venue in Pennsylvania. With a sprawling 80,000 square feet, it will feature around 500 slot machines and 24 table games, expandable to 750 and 40, respectively. The establishment aims to offer premier gaming, dining, and entertainment, along with a Barstool Sportsbook.