---
schema_version: "secwatch.filing_event.v1"
accession: "0000921738-23-000014"
form_type: "8-K"
ticker: "PENN"
cik: "0000921738"
company_name: "PENN Entertainment, Inc."
filed_at: "2023-05-04T23:59:59+00:00"
generated_at: "2026-06-15T23:52:05.427235+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# PENN Q1 revenue up 7% to $1.67B; net income surges to $514.4M; adjusted EBITDAR down 3.3%

## Summary
- Revenue $1.67B (+7% YoY); net income $514.4M vs $51.6M; diluted EPS $3.05 vs $0.29.
- Adjusted EBITDAR $478.2M (-3.3%); adjusted EBITDA $332.2M (-23.6%); margin 28.6% (-300 bps).
- Interactive segment rev $233.5M (incl. tax gross-up $92.3M); adj. EBITDA loss $5.7M on launches and low hold.
- Repurchased $50M of stock in Q1 at avg $30.36; subsequent $18.9M; remaining authorization $830.4M.
- Completed acquisition of remaining Barstool Sports on Feb 17; raised 2023 rev guidance to $6.37-$6.81B; reiterated adj. EBITDAR guidance.

## SEC filing metadata
- accession: 0000921738-23-000014
- form_type: 8-K
- ticker: PENN
- cik: 0000921738
- company_name: PENN Entertainment, Inc.
- filed_at: 2023-05-04T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/921738/000092173823000014/0000921738-23-000014-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/921738/000092173823000014/penn-20230504.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000921738-23-000014
- JSON: https://secwatch.observer/filing/0000921738-23-000014.json
- Plain text: https://secwatch.observer/filing/0000921738-23-000014.txt

## Key facts
- Earnings Releases
  PENN Entertainment, Inc. reported three months ended March 31, 2023 results: revenue $1.67 billion, net income $514.4 million. Guidance reaffirmed.
  - Period: three months ended March 31, 2023
  - Revenue: $1.67 billion
  - Net income: $514.4 million
  - Guidance: reaffirmed
  - Result: reported results
  source text: Inc. (“PENN” or the “Company”) (Nasdaq: PENN) today reported financial results for the three months ended March 31, 2023. 2023 First Quarter Highlights: • Revenues of $1.67 billion, an increase of 7.0% year-over-year; • Net income of $514.4 million and net income margin of 30.7%, as compared to net income of $51.6 million and net income margin of 3.3% in
  evidence_url: https://www.sec.gov/Archives/edgar/data/921738/000092173823000014/0000921738-23-000014-index.htm

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