PENN Q3 net loss narrows to $37.5M but Adj EBITDA drops to $193.5M

PENN Entertainment, Inc.

2024-Q3 EPS reported -$1.17 revenue$4,909,100,000

Revenue $1.64B (flat YoY); net loss improved to $37.5M from $725.1M; diluted EPS -$0.24.
Adjusted EBITDA fell to $193.5M from $298.5M; adjusted EBITDAR $348.4M vs $445.1M.
Interactive: $244.6M revenue, $90.9M Adj EBITDA loss; launched ESPN BET account linking on Oct 30.
Property-level: $1.4B revenue, $471.7M adj EBITDAR, 33.8% margins; unfavorable hold in NE, weather in South.
Liquidity $1.8B including $834M cash; traditional net debt $1.8B; iCasino app in PA early Q1 2025.

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