Welcome to our dedicated page for Penn Ent news (Ticker: PENN), a resource for investors and traders seeking the latest updates and insights on Penn Ent stock.
Penn Entertainment (PENN) delivers comprehensive gaming experiences through its network of land-based casinos and innovative digital platforms. This news hub provides investors and industry observers with authoritative updates on corporate developments, strategic initiatives, and regulatory milestones.
Access timely press releases and analysis covering earnings announcements, property expansions, technology partnerships, and interactive gaming innovations. Our curated collection ensures stakeholders stay informed about both traditional casino operations and emerging digital ventures in sports betting and iGaming.
Key updates include regulatory developments affecting gaming jurisdictions, acquisitions strengthening market position, and technological advancements enhancing customer experiences. Content is rigorously verified to support informed decision-making without speculative commentary.
Bookmark this page for continuous access to PENN's latest corporate communications and objective third-party reporting. Check regularly for updates reflecting the company's dual focus on physical entertainment destinations and digital growth strategies.
Penn National Gaming reported Q4 2020 revenues of $1,027.4 million, down 23% year-over-year, with Adjusted EBITDAR of $365.4 million, reflecting a 9% decline. The company successfully launched the Barstool Sportsbook in Pennsylvania and Michigan, drawing significant customer engagement. It plans to expand into new markets while integrating new cashless technologies. Despite pandemic challenges, operations improved with a cash balance of $1.9 billion and a 4.7x lease-adjusted net leverage. The firm aims to enhance shareholder value through strategic investments and technological advancements.
Penn National Gaming has received approval from the Michigan Gaming Control Board to launch online sports wagering and iCasino products. The Barstool Sportsbook mobile app will go live on January 22, 2021, following the recent opening of a retail sportsbook in Detroit. CEO Jay Snowden highlighted the integrated sports media partnership with Barstool Sports as a key advantage. Additionally, the launch will include a fundraising initiative to support Michigan businesses affected by COVID-19, matching first-time deposits made on the app during the opening weekend.
Penn National Gaming (PENN) announced the release of its 2020 fourth-quarter financial results, scheduled for February 4, 2021, at 7:00 a.m. ET. A conference call will follow at 9:00 a.m. ET, accessible to the public. Participants can dial 212/231-2907 to connect, with an online option available at www.pngaming.com. The company operates 41 properties across 19 states, featuring around 50,000 gaming machines and a strategic partnership with Barstool Sports for promoting its casino and sports betting products.
Choice Hotels International (CHH) has partnered with Penn National Gaming (PENN) to enhance benefits for their loyalty program members. This strategic agreement allows members to book stays at Penn properties while earning and redeeming Choice Privileges points. The rollout will add nearly 7,000 upscale rooms to Choice's Ascend Hotel Collection, enabling cross-earning and status reciprocity between the two loyalty programs. This collaboration enhances customer experience for over 47 million Choice Privileges members, increasing engagement in both hospitality and gaming sectors.
In 2020, the online sports betting industry experienced significant growth, and 2021 is expected to be crucial for its expansion. Key markets in the US and Europe are seeing legalization, which coincides with a rise in consumer interest. Companies like Bragg Gaming Group (TSXV:BRAG), DraftKings (NASDAQ:DKNG), Penn National Gaming (NASDAQ:PENN), and Esports Entertainment Group (NASDAQ:GMBL) are capitalizing on these opportunities. Bragg's recent partnership in the Netherlands and DraftKings' 98% revenue increase to $133 million underscore the industry's potential as it adapts to emerging markets.
Penn National Gaming announced that Felicia Hendrix will replace Dave Williams as the new CFO, effective March 2. Williams resigned due to pandemic-related challenges and family relocation issues, though he will assist in a temporary advisory role. Hendrix brings over 20 years of equity research experience in the gaming sector, previously serving at Barclays. CEO Jay Snowden praised Williams for his contributions during a turbulent time and expressed confidence in Hendrix's ability to lead. Penn National operates 41 properties across 19 states and continues to expand its omni-channel gaming offerings.
A player named Randy S. won a remarkable $537,000 jackpot on December 16 while playing the Halloween Jack slot game on HollywoodCasino.com. This jackpot marks the largest win for the platform, highlighting the success of their gaming offerings. Rich Criado, General Manager of iCasino for Penn National Gaming, expressed excitement about this win just in time for the holiday season. HollywoodCasino.com features various games like Blackjack and 88 Fortunes, and was a pioneer in online casino gaming in Pennsylvania.
Penn National Gaming (PENN: Nasdaq) announced the opening of its Barstool Sportsbook at Greektown Casino Hotel, set for December 23, 2020, pending regulatory approvals. The sportsbook, located adjacent to the table games area, offers a unique sports wagering experience, featuring numerous betting kiosks, a dining space, and large odds boards. The company anticipates strong customer engagement in Detroit, leveraging its myChoice loyalty program to reward players. Penn National operates 41 properties across 19 states, aiming to enhance its omni-channel gaming services.
Penn National Gaming (PENN) announced the opening of its rebranded Barstool Sportsbooks at Hollywood Casino Lawrenceburg on December 23, 2020, and Ameristar East Chicago on December 24, 2020, pending regulatory approvals. The revamped sportsbooks feature enhanced designs, a sports viewing area, redesigned dining spaces, and numerous betting kiosks. The new venues aim to offer unique sports wagering experiences and support the company’s loyalty program, myChoice. The openings cater to avid sports fans in the region, who have been eagerly anticipating these developments.
Penn National Gaming (PENN) has announced a definitive agreement to acquire Hollywood Casino Perryville in Maryland for $31.1 million in cash. The deal includes a lease arrangement with Gaming and Leisure Properties (GLPI) for the property, with annual rent set at approximately $7.77 million. This acquisition enables Penn National to re-enter the Maryland gaming market and expand its twenty gaming jurisdictions. Additionally, with the recent approval of sports betting, the transaction aims to bolster Penn National's omni-channel platform, enhancing its Barstool-branded sportsbook and mobile app offerings.
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