---
schema_version: "secwatch.filing_event.v1"
accession: "0000921738-24-000005"
form_type: "8-K"
ticker: "PENN"
cik: "0000921738"
company_name: "PENN Entertainment, Inc."
filed_at: "2024-02-15T23:59:59+00:00"
generated_at: "2026-06-06T01:52:22.806717+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# PENN Entertainment reports Q4 net loss of $358.8M; Interactive segment loss $333.8M on ESPN BET launch costs

## Summary
- Net loss $358.8M ($2.37 diluted EPS) vs income $20.8M ($0.13) YoY; revenue $1.395B, down 12% YoY.
- Retail segment revenue $1.37B, Adjusted EBITDAR $476.4M, margin 34.7%; 10 properties achieved record Q4 revenue.
- Interactive (ESPN BET) revenue $31.5M, Adjusted EBITDA loss $333.8M; over 1M FTDs post-Nov 14 launch; promotional expense higher than expected.
- ESPN BET to launch in NC (March 2024) and NY (before football season), expanding addressable sports betting population to 46%.
- Total liquidity $2.1B, cash $1.1B; traditional net debt $1.6B.

## SEC filing metadata
- accession: 0000921738-24-000005
- form_type: 8-K
- ticker: PENN
- cik: 0000921738
- company_name: PENN Entertainment, Inc.
- filed_at: 2024-02-15T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/921738/000092173824000005/0000921738-24-000005-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/921738/000092173824000005/penn-20240215.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000921738-24-000005
- JSON: https://secwatch.observer/filing/0000921738-24-000005.json
- Plain text: https://secwatch.observer/filing/0000921738-24-000005.txt

## Key facts
- Earnings Releases
  PENN Entertainment, Inc. reported for the three months and year ended December 31, 2023 results: revenue $1,395.4, net income $(358.8), EPS $(2.37).
  - Period: for the three months and year ended December 31, 2023
  - Revenue: $1,395.4
  - Net income: $(358.8)
  - EPS: $(2.37)
  - Result: reported results
  source text: may not be reasonably predicted. 2 Summary of Fourth Quarter Results For the three months ended December 31, (in millions, except per share data, unaudited) 2023 2022 Revenues $ 1,395.4 $ 1,585.6 Net income (loss) $ (358.8) $ 20.8 Adjusted EBITDA (1) $ (39.6) $ 438.3 Rent expense associated with triple net operating leases (2) 152.1 30.0 Adjusted EBITDAR (1) $
  evidence_url: https://www.sec.gov/Archives/edgar/data/921738/000092173824000005/0000921738-24-000005-index.htm

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