secwatch.observer — SEC 8-K summary
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Issuer:     PENN Entertainment, Inc. (PENN)
CIK:        0000921738
Form:       8-K
Filed at:   2023-02-02T23:59:59+00:00
Accession:  0000921738-23-000004
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/921738/000092173823000004/0000921738-23-000004-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/921738/000092173823000004/penn-20230202.htm
  HTML page:      https://secwatch.observer/filing/0000921738-23-000004

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer