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PENN Entertainment, Inc. reported the results of its 2026 Annual Meeting of Shareholders held on June 16, 2026. Holders of 116,378,236 shares of common stock were present in person or by proxy.
Shareholders elected four directors: Marla Kaplowitz (89,774,779 votes for, 13,297,143 withheld), Jane Scaccetti (92,971,444 for, 10,100,478 withheld), Fabio Schiavolin (102,312,318 for, 759,604 withheld) and Jay Snowden (99,755,630 for, 3,316,292 withheld). Other directors’ terms continued without being up for election.
Shareholders also voted on additional proposals described in the definitive proxy statement, including one item receiving 115,909,227 votes for, 276,451 against and 192,558 abstentions, and others with for votes ranging from about 81.7 million to 90.1 million, plus broker non-votes of 13,306,314 on each such item.
PENN Entertainment amended its existing credit agreement to reprice and extend its $962.5 million Term Loan B facility. The amended Term Loan B Facility now matures in May 2033, giving the company a longer runway to repay this portion of its debt.
The amendment also reduces interest rate margins on the Term Loan B Facility. Margins on term SOFR loans decrease from 2.50% to 2.00%, and margins on base rate loans fall from 1.50% to 1.00%. The maturities of the company’s term loan A facility and revolving facility remain unchanged.
Penn Entertainment Inc ownership disclosure: Vanguard Capital Management reports beneficial ownership of 6,992,425 shares of Common Stock, representing 5.23% of the class as of 03/31/2026. The filing lists 965,427 shares with sole voting power and 6,992,425 shares with sole dispositive power, held on behalf of Vanguard-managed funds and accounts.
PENN Entertainment reported Q1 2026 revenue of $1.78 billion, up from $1.67 billion a year earlier, driven by growth across its Northeast, Midwest and Interactive segments. Operating income more than doubled to $97.1 million from $42.8 million.
Despite higher operating profit, PENN posted a small net loss of $2.8 million, compared with net income of $111.5 million in Q1 2025, mainly because last year included a one-time $215.1 million gain on a financing arrangement and higher interest and tax expense. Segment Adjusted EBITDAR rose to $460.6 million from $368.0 million, with the Interactive segment improving from a $(89.0) million loss to $(10.8) million, helped by sharply lower advertising costs.
Cash from operations increased to $122.4 million from $41.9 million, and cash and cash equivalents ended the quarter at $708.0 million. Long-term debt (net of discounts and current maturities) was $2.89 billion, and the company issued $600.0 million of 6.75% senior unsecured notes due 2031, using the proceeds to repay revolving credit borrowings.
Penn Entertainment Inc ownership filing: Vanguard Portfolio Management reports holding 8,515,741 shares of Penn Entertainment common stock, representing 6.37% of the class as of 03/31/2026. Vanguard reports sole dispositive power over 8,515,741 shares and sole voting power for 146,770 shares.
The filing states these holdings include securities held for Vanguard funds and managed accounts over which Vanguard Portfolio Management LLC or affiliates exercise dispositive or voting power. The disclosure is signed by Ashley Grim as Head of Global Fund Administration on 04/29/2026.
PENN Entertainment’s 2026 proxy outlines major board, strategy and compensation changes alongside plans for its virtual annual meeting on June 16, 2026. Shareholders will vote on electing four Class III directors, ratifying the auditor, approving executive pay, amending the 2022 long‑term incentive plan and a shareholder proposal to declassify the board, which the board recommends against. The company highlights significant board refreshment with five new independent directors since the 2025 meeting, plus three additional directors added in 2026, including three nominated under a cooperation agreement with HG Vora. Strategy updates include refocusing digital around theScore Bet and Hollywood iCasino, strong early profitability in Interactive, and successful retail projects at Hollywood Casino Joliet and M Resort. PENN emphasizes disciplined capital allocation, citing $354 million of share repurchases in 2025 and $1.1 billion since 2022, and expects over $10 million in annual run‑rate overhead savings, lower maintenance capital and large segment‑adjusted EBITDA improvement in 2026. Executive pay is described as mostly at risk, with 2025 short‑term and long‑term incentive payout percentages below target and meaningful reductions and redesigns to the CEO’s 2026 equity opportunity in response to shareholder feedback.
PENN Entertainment, Inc. filed a Form S-3 shelf registration dated April 24, 2026 to register common stock, preferred stock, depositary shares and debt securities for offer and sale from time to time. The prospectus permits offerings either by the company or by future selling securityholders and states specific terms will be provided in prospectus supplements.
The company discloses it operates in 27 jurisdictions, has a PENN Play™ loyalty program with over 33 million members, and that its common stock trades on the Nasdaq Global Select Market under the symbol PENN. Use of proceeds and final terms will be set forth in supplements to this prospectus.
PENN Entertainment, Inc. reported higher first quarter 2026 revenue of $1,779.1 million, up from $1,672.5 million a year earlier, driven by both retail and interactive operations. Consolidated Adjusted EBITDA rose to $265.8 million from $173.3 million, reflecting stronger operating performance.
The company posted a small net loss of $2.8 million, compared with net income of $111.5 million in the prior-year quarter, largely due to a prior-period gain on a financing arrangement. Adjusted EPS improved to $0.11 from a loss of $0.25, and the Interactive segment significantly narrowed its Adjusted EBITDA loss to $10.8 million from $89.0 million.
Retail segment revenues were $1.4 billion with Segment Adjusted EBITDAR of $471.4 million and margins of 33.2%. Liquidity totaled $1.7 billion as of March 31, 2026, including $708.0 million in cash, while traditional net debt stood at $2.24 billion and the lease-adjusted net leverage ratio improved to 6.4x from 6.8x.
PENN Entertainment, Inc. amended its Second Amended and Restated Credit Agreement to refinance and extend its $1.0 billion revolving credit facility and $446.9 million term loan A facility, together called the 2026 Facilities.
The 2026 Facilities now mature in April 2031, with an earlier springing maturity 91 days before certain existing debt if that debt is still outstanding and not refinanced, unless specified liquidity conditions are met. Interest margins remain the same, but a 0.10% credit spread adjustment on SOFR borrowings was removed.
The company’s existing term loan B facility was not refinanced and its maturity is unchanged. Proceeds from the 2026 Facilities refinanced the prior revolving credit and term loan A facilities and will also support future working capital and general corporate purposes.