secwatch.observer — SEC 8-K summary
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Issuer:     PENN Entertainment, Inc. (PENN)
CIK:        0000921738
Form:       8-K
Filed at:   2024-11-07T23:59:59+00:00
Accession:  0000921738-24-000035
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/921738/000092173824000035/0000921738-24-000035-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/921738/000092173824000035/penn-20241107.htm
  HTML page:      https://secwatch.observer/filing/0000921738-24-000035

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