PENN Q1 net loss $114.9M vs $514.4M profit year ago; Interactive EBITDA loss $196.0M

PENN Entertainment, Inc.

2024-Q1 EPS reported -$0.76 revenue$1,606,900,000

Revenue fell 4% to $1,606.9M from $1,673.3M; diluted EPS loss $0.76 vs $3.05 gain.
Property level (retail) Adjusted EBITDAR $479.0M, margins 34.1%; weather impacted early Q1.
Interactive revenue $207.7M (incl. $116.6M tax gross-up); Adjusted EBITDA loss $196.0M on unfavorable hold.
Record online sports betting handle and iCasino GGR but spend per user and hold below expectations.
Hired Aaron LaBerge (ex-Disney/ESPN CTO) as Chief Technology Officer to lead Interactive division.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

PENN Entertainment, Inc. reported three months ended March 31, 2024 results: revenue $1,606.9 million, net income $(114.9) million, EPS $(0.76) per diluted share.

Period: three months ended March 31, 2024
Revenue: $1,606.9 million
Net income: $(114.9) million
EPS: $(0.76) per diluted share
Result: reported results

Exact text from the filing

PENN Entertainment, Inc. (the “Company”) issued a press release announcing the results of operations and financial condition for the three months ended March 31, 2024.

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Source: SEC EDGAR

accession 0000921738-24-000018

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