---
schema_version: "secwatch.filing_event.v1"
accession: "0000921738-26-000006"
form_type: "8-K"
ticker: "PENN"
cik: "0000921738"
company_name: "PENN Entertainment, Inc."
filed_at: "2026-02-26T23:59:59+00:00"
generated_at: "2026-05-16T00:00:13.405822+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# PENN Entertainment Q4 net loss narrows to $73.4M; guides 20% adjusted EBITDAR growth in 2026

## Summary
- Revenue $1.81B in Q4 2025 vs $1.67B a year ago; net loss improved to $(73.4M) from $(133.8M).
- Consolidated Adjusted EBITDA $225.8M vs $165.2M; retail segment adjusted EBITDAR $456.4M.
- Interactive segment revenue $398.7M (incl. $182.7M tax gross-up), adjusted EBITDA loss $39.9M; achieved positive adjusted EBITDA in December.
- Guidance: expect 20% YoY segment adjusted EBITDAR growth in 2026; Interactive break-even; >$10M annualized cost savings.
- Liquidity $1.1B (cash $686.6M); traditional net debt $2.2B; expect de-leveraging >1 turn lease-adjusted, >2 turns traditional.

## SEC filing metadata
- accession: 0000921738-26-000006
- form_type: 8-K
- ticker: PENN
- cik: 0000921738
- company_name: PENN Entertainment, Inc.
- filed_at: 2026-02-26T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/921738/000092173826000006/0000921738-26-000006-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/921738/000092173826000006/penn-20260226.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000921738-26-000006
- JSON: https://secwatch.observer/filing/0000921738-26-000006.json
- Plain text: https://secwatch.observer/filing/0000921738-26-000006.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.