secwatch.observer — SEC 8-K summary
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Issuer:     PENN Entertainment, Inc. (PENN)
CIK:        0000921738
Form:       8-K
Filed at:   2024-05-02T23:59:59+00:00
Accession:  0000921738-24-000018
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/921738/000092173824000018/0000921738-24-000018-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/921738/000092173824000018/penn-20240502.htm
  HTML page:      https://secwatch.observer/filing/0000921738-24-000018

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