secwatch.observer — SEC 8-K summary
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Issuer:     PENN Entertainment, Inc. (PENN)
CIK:        0000921738
Form:       8-K
Filed at:   2023-05-04T23:59:59+00:00
Accession:  0000921738-23-000014
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/921738/000092173823000014/0000921738-23-000014-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/921738/000092173823000014/penn-20230504.htm
  HTML page:      https://secwatch.observer/filing/0000921738-23-000014

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