secwatch.observer — SEC 8-K summary
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Issuer:     PENN Entertainment, Inc. (PENN)
CIK:        0000921738
Form:       8-K
Filed at:   2024-08-08T23:59:59+00:00
Accession:  0000921738-24-000026
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/921738/000092173824000026/0000921738-24-000026-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/921738/000092173824000026/penn-20240808.htm
  HTML page:      https://secwatch.observer/filing/0000921738-24-000026

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer