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, Inc. (Nasdaq: PENN) generates a steady flow of news across its casinos, racetracks, and interactive gaming operations. As a gaming and entertainment company with properties in 28 jurisdictions throughout North America, PENN issues updates on financial results, strategic partnerships, digital product developments, property expansions, and corporate governance matters.
News coverage for PENN often includes quarterly and annual earnings releases, where the company reports segment performance for its Northeast, South, West, Midwest, and Interactive divisions. These releases highlight trends in retail casino revenues, interactive gaming results, and non-GAAP metrics such as Adjusted EBITDA and Adjusted EBITDAR, as well as information on share repurchase activity and liquidity.
Another key category of news involves digital and omnichannel initiatives. PENN has announced product features and integrations for its online sports betting platforms, including ESPN BET and theScore Bet, along with enhancements like FanCenter and player insights tools. Press releases also cover the evolution of PENN’s digital strategy, such as the mutual early termination of its U.S. online sports betting agreement with ESPN and the planned rebranding of its U.S. sportsbook offering to theScore Bet, accompanied by a focus on iCasino and Canadian operations.
Property and development updates are a recurring theme, with announcements about new land-based casinos, hotel expansions, and amenities at properties like M Resort Spa Casino Las Vegas and Hollywood Casino Joliet. Racing-related news from Sam Houston Race Park details Thoroughbred stakes schedules, Texas-bred racing programs, and live meet information.
Investors and followers of PENN can use this news feed to review corporate organizational changes, board and shareholder meeting outcomes, litigation-related disclosures, and other regulatory announcements. Bookmarking the page allows users to monitor how PENN’s regional casinos, interactive segment, and racing operations evolve over time.
Penn National Gaming (PENN) announced a 20-year partnership with Capital Region Gaming to access New York's mobile sports betting and iCasino market, pending legislative and regulatory approvals. Jon Kaplowitz, Sr. VP of Interactive Gaming, highlighted the potential of New York as a lucrative market and expressed optimism for multiple operator participation. Currently operating in Pennsylvania and Michigan, Penn Interactive aims to expand its Barstool Sports app to at least 10 states by the end of 2021. Initial performance in Michigan suggests strong market entry potential with 48,000 new customers and $27.5 million in handle in the first 10 days.
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.