{"id":321959,"date":"2026-11-05T21:34:33","date_gmt":"2026-11-05T21:34:33","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-pa\/321959\/"},"modified":"2026-11-05T21:34:33","modified_gmt":"2026-11-05T21:34:33","slug":"u-s-icasino-canada-drive-growth-of-wyomissing-based-penn-entertainment-business-news","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-pa\/321959\/","title":{"rendered":"U.S. iCasino, Canada drive growth of Wyomissing-based PENN Entertainment | Business News"},"content":{"rendered":"

WYOMISSING, Pa. \u2013 Slowly, PENN Entertainment<\/a> is creeping back into the black from its recent years of heavy losses. The Wyomissing-based operator of casinos, sports betting and entertainment reported third quarter increases in revenue and earnings while beating analysts\u2019 consensus estimates.<\/p>\n

All of the company\u2019s reportable segments \u2013 Northeast, South, West, Midwest, and Interactive \u2013 reported revenue growth over the previous year\u2019s third quarter, although the South segment barely grew by $800,000.<\/p>\n

According to S&P, analysts expect revenue to grow 4.9% over the next 12 months, a slight deceleration versus the last two years.<\/p>\n

PENN Entertainment stock is trading near the mid-point of its 52-week high of $22.36 per share and mid-morning it was down 3.15% at $16.89 per share.<\/p>\n

Jay Snowden, chief executive officer and president, said in a statement: \u201cPENN\u2019s third quarter results were highlighted by strong year-over-year growth in Retail Segment adjusted EBITDAR (earnings before interest, taxes, depreciation, amortization, and rent), continued progress toward Interactive profitability, and further balance sheet deleveraging. Our Retail segment achieved record third quarter revenue, reflecting broad-based strength across the portfolio, including our completed development projects.\u201d<\/p>\n

Snowden also pointed to sustained revenue growth in U.S. standalone Hollywood iCasino and Canada. He also stated that the company\u2019s operational discipline reinforces its confidence in achieving its full-year adjusted EBITDA target in its Interactive segment.<\/p>\n

\u201cImportantly,\u201d he noted, \u201cthe healthy operating trends we experienced across both our Retail and Interactive segments continued through October.\u201d<\/p>\n

PENN Entertainment<\/p>\n

Summary of 3Q Results<\/p>\n

In millions except per share<\/p>\n

For the three months ended<\/p>\n

30-Sep-26<\/p>\n

30-Sep-25<\/p>\n

Revenues<\/p>\n

1,840<\/p>\n

1,717<\/p>\n

Net income (loss)<\/p>\n

32.6<\/p>\n

-865.1<\/p>\n

Consolidated Adjusted<\/p>\n

284<\/p>\n

195<\/p>\n

EDITDA<\/p>\n

Rent expense associated with<\/p>\n

167.9<\/p>\n

158.1<\/p>\n

triple net operating leases<\/p>\n

Cash payments to REIT<\/p>\n

Landlords<\/p>\n

251.8<\/p>\n

241.9<\/p>\n

Diluted earnings (loss) per<\/p>\n

0.24<\/p>\n

-6.03<\/p>\n

common share<\/p>\n

Third Quarter Retail Segment<\/p>\n

For the third quarter of 2026, PENN reported revenues of $1.5 billion. The segment adjusted EBITDAR was $501.8 million; and segment adjusted EBITDAR margins increased to 33.7% compared to the prior year quarter.<\/p>\n

\u201cOur Retail segment delivered better than expected revenue and Adjusted EBITDAR results, driven by same-store growth and contributions from our completed development projects,\u201d Snowden said.<\/p>\n

PENN reported property-level performance was supported by increases in rated revenue and spend per visit across all age segments, meaningful contributions from mid- and high-worth customers and continued growth in unrated revenue.<\/p>\n

The company noted for the third consecutive quarter, segment adjusted EBITDAR margins improved year-over-year.<\/p>\n

\u201cWe believe the returns we are generating from investments in our portfolio highlight the opportunity across our remaining development pipeline and position us well for future growth,” Snowden said.<\/p>\n

Third Quarter Interactive Segment<\/p>\n

PENN reported revenues of $348.4 million (including tax gross-up of $191.4 million); and an adjusted EBITDA loss of $18.3 million.<\/p>\n

\u201cAdjusted EBITDA in our Interactive segment improved meaningfully year-over-year, reflecting continued execution against our plan to achieve profitability,\u201d Snowden said. \u201cU.S. iCasino revenue growth was driven by the strength of standalone Hollywood iCasino, supported by efficient user acquisition and reinvestment.\u201d<\/p>\n

He pointed out increased users and revenue per user in Ontario contributed to revenue growth across both iCasino and online sports betting (OSB) as PENN continues to reinvest in one of its most attractive jurisdictions.<\/p>\n

\u201cWe are also pleased with the early performance of our Alberta iCasino and OSB operations,\u201d Snowden said, \u201cwhich further expand our Canadian presence.\u201d<\/p>\n

\u201cThese encouraging trends reinforce our strategic focus on U.S. iCasino and Canada as key drivers of profitable growth,\u201d he concluded.<\/p>\n

Liquidity and Financial Position<\/p>\n

PENN reported total liquidity as of September 30, 2026, was $2 billion, including $1 billion of cash and cash equivalents. Also, traditional net debt as of September 30, 2026, was $1.762 billion, a decrease from $2.217 billion the previous year.<\/p>\n

About PENN Entertainment<\/p>\n

PENN Entertainment, Inc., together with its subsidiaries, operates in 28 jurisdictions throughout North America, with a broadly diversified portfolio of casinos, racetracks and online sports betting and iCasino offerings.\u00a0<\/p>\n

PENN operates 43 properties in 20 states, online sports betting in 19 jurisdictions and iCasino in five jurisdictions, under a portfolio of brands including Hollywood Casino\u00ae, L\u2019Auberge\u00ae, and theScore BET Sportsbook and Casino\u00ae.<\/p>\n

\nCopyright 2026 Maranatha Broadcasting Co., Inc.. All Rights Reserved.\n<\/p>\n

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