PENN Entertainment Q2 net loss of $27.1M vs income $78.1M YoY; revenue down slightly

PENN Entertainment, Inc.

2024-Q2 EPS reported -$0.93 revenue$3,269,900,000

Net loss of $27.1M (diluted EPS -$0.18) vs net income of $78.1M ($0.48) in Q2 2023.
Revenue of $1,663M, down from $1,674.8M YoY; Adjusted EBITDA fell to $212.1M from $330.4M.
Retail segment revenues $1.4B with Adjusted EBITDAR $496.6M (34.8% margin); Interactive revenue $232.6M with Adjusted EBITDA loss $102.8M.
Interactive segment record gaming revenue; ESPN BET launch in NY expected late Aug; digital database up >80% since launch to 3.8M members.
Total liquidity $1.9B incl. $877.6M cash; traditional net debt $1.7B; development projects on budget and schedule.

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