---
schema_version: "secwatch.filing_event.v1"
accession: "0000921738-23-000004"
form_type: "8-K"
ticker: "PENN"
cik: "0000921738"
company_name: "PENN Entertainment, Inc."
filed_at: "2023-02-02T23:59:59+00:00"
generated_at: "2026-06-20T03:13:36.949175+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# PENN Q4 net income $20.8M, Adj EBITDAR $468.3M; FY23 rev guidance $6.15-6.58B

## Summary
- Revenues $1.59B (+0.8% YoY); net income $20.8M ($0.13 EPS) vs $44.8M ($0.26) prior year.
- Adj EBITDAR $468.3M (-2.5% YoY), margin 29.5%; property-level Adj EBITDAR $487.1M, margin 35.2%.
- Interactive segment Adj EBITDA $5.2M (profitable); revenue $208M incl tax gross-up. Barstool migration to proprietary tech summer 2023.
- Repurchased $91M in Q4 at avg $31.69; new $750M buyback auth Dec 2022; post-quarter additional $31.5M repurchases.
- FY23 guidance: revenue $6.15-6.58B, Adj EBITDAR $1.875-2.0B. Barstool acquisition closing Feb 17 excluded from guidance.

## SEC filing metadata
- accession: 0000921738-23-000004
- form_type: 8-K
- ticker: PENN
- cik: 0000921738
- company_name: PENN Entertainment, Inc.
- filed_at: 2023-02-02T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/921738/000092173823000004/0000921738-23-000004-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/921738/000092173823000004/penn-20230202.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000921738-23-000004
- JSON: https://secwatch.observer/filing/0000921738-23-000004.json
- Plain text: https://secwatch.observer/filing/0000921738-23-000004.txt

## Key facts
- Earnings Releases
  PENN Entertainment, Inc. reported the three months and year ended December 31, 2022 results: revenue $1.6 billion, net income $20.8 million. Guidance initiated.
  - Period: the three months and year ended December 31, 2022
  - Revenue: $1.6 billion
  - Net income: $20.8 million
  - Guidance: initiated
  - Result: reported results
  source text: (“PENN” or the “Company”) (Nasdaq: PENN) today reported financial results for the three months and year ended December 31, 2022. 2022 Fourth Quarter Highlights: • Revenues of $1.6 billion, an increase of 0.8% year-over-year; • Net income of $20.8 million and net income margin of 1.3%, as compared to net income of $44.8 million and net income margin of 2.8% in the
  evidence_url: https://www.sec.gov/Archives/edgar/data/921738/000092173823000004/0000921738-23-000004-index.htm
- Earnings Releases
  PENN Entertainment, Inc. reported 2023 results: revenue $6.15 billion to $6.58 billion. Guidance initiated.
  - Period: 2023
  - Revenue: $6.15 billion to $6.58 billion
  - Guidance: initiated
  - Result: guidance update
  source text: For 2023, we are guiding to a revenue range of $6.15 billion to $6.58 billion and an Adjusted EBITDAR range of $1.875 billion to $2.0 billion
  evidence_url: https://www.sec.gov/Archives/edgar/data/921738/000092173823000004/0000921738-23-000004-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.