---
schema_version: "secwatch.filing_event.v1"
accession: "0000921738-23-000023"
form_type: "8-K"
ticker: "PENN"
cik: "0000921738"
company_name: "PENN Entertainment, Inc."
filed_at: "2023-08-09T23:59:59+00:00"
generated_at: "2026-06-12T00:04:54.717352+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# PENN Q2 revenue up 2.9%, net income $78.1M; ESPN Bet rebrand in Fall 2023

## Summary
- Revenue $1.67B (+2.9% YoY); net income $78.1M (up from $26.1M); diluted EPS $0.48 vs $0.15.
- Adj. EBITDAR $476.8M (-5.5% YoY); adj. EBITDA $330.4M (-30.7%); margins down 250 bps.
- Repurchased $99.8M of stock at avg $26.31; liquidity $2.2B; lease-adj. net leverage 4.7x.
- Barstool Sportsbook to rebrand as ESPN Bet in Fall 2023 under new ESPN agreement.
- Successfully migrated proprietary sports betting and iCasino tech platform in the U.S.

## SEC filing metadata
- accession: 0000921738-23-000023
- form_type: 8-K
- ticker: PENN
- cik: 0000921738
- company_name: PENN Entertainment, Inc.
- filed_at: 2023-08-09T23:59:59+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/921738/000092173823000023/0000921738-23-000023-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/921738/000092173823000023/penn-20230809.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000921738-23-000023
- JSON: https://secwatch.observer/filing/0000921738-23-000023.json
- Plain text: https://secwatch.observer/filing/0000921738-23-000023.txt

## Key facts
- Earnings Releases
  PENN Entertainment, Inc. reported three months ended June 30, 2023 results: revenue $1,674.8, net income $78.1, EPS $0.48.
  - Period: three months ended June 30, 2023
  - Revenue: $1,674.8
  - Net income: $78.1
  - EPS: $0.48
  - Result: reported results
  source text: For the three months ended June 30, (in millions, except per share data, unaudited) 2023 2022 Revenues $ 1,674.8 $ 1,626.9 Net income $ 78.1 $ 26.1 Adjusted EBITDA (1) $ 330.4 $ 476.5 Rent expense associated with triple net operating leases (2) 146.4 28.0 Adjusted EBITDAR (1) $ 476.8 $ 504.5 Payments to our REIT Landlords under Triple Net Leases (3) $ 234.2 $ 231.8 Diluted earnings per common share $ 0.48 $ 0.15
  evidence_url: https://www.sec.gov/Archives/edgar/data/921738/000092173823000023/0000921738-23-000023-index.htm

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