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. reports developments across a North American gaming and entertainment business that includes casinos, racetracks, online sports betting and iCasino offerings. Company news commonly covers quarterly results, retail property projects under the Hollywood Casino brand, digital wagering strategy, sports media and technology assets, and the PENN Play customer loyalty program.
Recurring updates also address capital actions, material agreements, board composition and shareholder governance matters. PENN’s news flow reflects the regulatory environment for gaming operators, the company’s omnichannel model linking retail casinos with digital products, and periodic changes to its operating structure and executive oversight.
PENN Entertainment (NASDAQ: PENN) announced significant changes to its Board of Directors, including the nomination of two new directors following discussions with HG Vora Capital Management. Johnny Hartnett and Carlos Ruisanchez will be nominated to fill two Class II director seats at the upcoming Annual Meeting.
The Board restructuring includes immediate retirement of Ron Naples, while Barbara Shattuck Kohn and Saul Reibstein will not seek reelection at the 2025 Annual Meeting. The Board now consists of eight directors, with seven being independent.
The new nominees bring extensive gaming industry experience. Ruisanchez is currently CEO of Sorelle Capital and previously served as President and CFO of Pinnacle Entertainment. Hartnett recently served as CEO of Superbet Group (2019-2023) and spent 20 years in various leadership positions at Flutter Group.
PENN Entertainment has announced plans to relocate its Ameristar Casino Hotel Council Bluffs riverboat operations to a new land-based facility, rebranding it as Hollywood Casino Council Bluffs. The $180-200 million project was approved by the Iowa Racing and Gaming Commission alongside a 15-year extension with Iowa West Racing Association.
The new facility will feature approximately 125,000 square feet of development, including 58,000 square feet of gaming space with over 1,000 positions on a single level. It will integrate with the existing ESPN BET sportsbook, 160-room hotel, and dining facilities. Gaming and Leisure Properties (GLPI) may provide up to $150 million in financing at a 7.10% cap rate.
Construction is expected to take 18-24 months after design and permitting approvals. The project aims to enhance the property's competitive position in the greater Omaha market and aligns with PENN's omni-channel entertainment strategy, which includes their database of over 32 million PENN Play members.
PENN Entertainment (Nasdaq: PENN) has scheduled its 2025 first quarter financial results announcement for Thursday, May 8, 2025. The company will release the results at 7:00 a.m. ET, followed by a conference call and simultaneous webcast at 9:00 a.m. ET.
The conference call will be accessible via phone at 203-518-9765 (conference ID: PENN) and through the company's website at www.pennentertainment.com. The Q&A session will be exclusively for analysts and investors. A replay of the call will be available on the company's website for thirty days.
PENN Entertainment reported its Q4 2024 financial results, highlighting solid property-level performance with revenues of $1.4 billion and Adjusted EBITDAR of $461.2 million. Properties unaffected by new supply generated nearly 3% year-over-year revenue growth.
The Interactive segment showed significant improvements, with revenues of $275.0 million, despite customer-friendly sports betting outcomes. The company's iCasino business achieved record quarterly gaming revenue, showing over 60% growth year-over-year, boosted by the successful launches of the standalone Hollywood Casino app in Pennsylvania and Michigan.
PENN announced plans to repurchase at least $350 million of shares in 2025. The company maintained strong liquidity of $1.7 billion, including $706.6 million in cash and cash equivalents, with traditional net debt at $1.9 billion as of December 31, 2024.
PENN Entertainment (Nasdaq: PENN) has confirmed receiving notice from HG Vora Capital Management nominating three director candidates for election to PENN's Board of Directors at the 2025 Annual Meeting of Shareholders. The company stated its Board and management team remain committed to creating long-term value for shareholders and will continue engaging with the investment community regarding strategy and performance.
The Board's Nominating and Corporate Governance Committee will review HG Vora's proposed nominees following standard evaluation procedures. PENN will present its formal recommendation in proxy materials to be filed with the SEC before the 2025 Annual Meeting. Goldman Sachs & Co. is serving as financial advisor and Wachtell, Lipton, Rosen & Katz as legal counsel.
PENN Entertainment (Nasdaq: PENN) has scheduled its 2024 fourth quarter financial results announcement for February 27, 2025. The results will be released at 7:00 a.m. ET, followed by a conference call and simultaneous webcast at 9:00 a.m. ET.
The conference call will be accessible via phone at 203-518-9783 (conference ID: PENN) and through the company's website at www.pennentertainment.com. The Q&A session will be exclusively for analysts and investors. A replay of the call will be available on the company's website for thirty days.
PENN Entertainment has announced the launch of ESPN BET in Washington, D.C., marking its 20th U.S. jurisdiction. The platform offers a comprehensive mobile and web betting experience featuring various sports markets, odds boosts, profit boosts, featured parlays, and live betting markets.
The platform includes unique features such as account linking between ESPN BET and ESPN accounts, allowing users to track bets across ESPN platforms. PENN secured market access through a partnership with Monumental Sports & Entertainment, making ESPN BET an official sports betting partner of the Washington Capitals, Wizards, and Mystics.
The service is available on iOS, Android, and web platforms, incorporating responsible gaming tools including limits on time, deposits, and wagering amounts.
PENN Entertainment has announced a strategic partnership with Monumental Sports & Entertainment (MSE) to secure online market access for ESPN BET in Washington D.C. Through this multi-channel agreement, ESPN BET becomes a sports betting partner of MSE's teams, including the Washington Capitals, Wizards, and Mystics.
The partnership includes prominent in-arena and media components, featuring custom broadcast integrations on Monumental Sports Network. The deal encompasses IP rights, in-arena and TV-visible signage, out-of-home advertising, and unique hospitality experiences. Both organizations have committed to responsible gaming practices, with ESPN BET offering comprehensive tools for responsible gaming.
ESPN BET, currently available in 19 states, combines ESPN's brand and reach with PENN Entertainment's proprietary technology and sportsbook expertise.
PENN Entertainment has launched its new standalone Hollywood Casino app in Pennsylvania, featuring over 700 iCasino games. Built on PENN's proprietary technology platform, the app offers daily promotions, jackpots, and various gaming options including slots, table games, and live dealer content. Users can access the platform through either the ESPN BET app or the new Hollywood Casino app using the same login credentials.
The app includes exclusive features like bespoke live dealer tables, a dedicated 'Casino Floor' lobby, and original titles from PENN Game Studios. It's fully integrated with PENN Play, the company's loyalty program, allowing members to earn and redeem rewards. PENN plans to expand the Hollywood Casino app to additional jurisdictions in early 2025, subject to regulatory approvals.
PENN Entertainment reported Q3 2024 financial results with revenues of $1.64 billion and a net loss of $37.5 million. The company's retail business showed stable consumer demand, though affected by unfavorable hold in Northeast and weather disruptions in South segment. Interactive segment posted revenues of $244.6 million with an Adjusted EBITDA loss of $90.9 million, benefiting from better-than-expected hold and lower promotional expenses. Total liquidity stood at $1.8 billion with $834.0 million in cash. The company launched account linking between ESPN BET and ESPN on October 30th, expanding its online sports betting footprint to 19 U.S. states.