PENN Entertainment, Inc.

NASDAQ•PENN

CEO: Mr. Jay A. Snowden

Sector: Consumer Cyclical

Industry: Gambling, Resorts & Casinos

Listing Date: 1994-05-26

PENN Entertainment, Inc., together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates online sports betting in various jurisdictions; and iCasino under Hollywood Casino, L'Auberge, ESPN BET, and theScore Bet Sportsbook and Casino brands. The company's portfolio also includes PENN Play, customer loyalty program, which offers a set of rewards and experiences for business channels. In addition, it owns various trademarks and service marks, including Ameristar, Argosy, Boomtown, Hollywood Casino, Hollywood Gaming, L'Auberge, PENN Play, theScore, theScore Bet, theScore esports, and M Resort. The company was formerly known as Penn National Gaming, Inc. and changed its name to PENN Entertainment, Inc. in August 2022. PENN Entertainment, Inc. was founded in 1972 and is based in Wyomissing, Pennsylvania.

Contact Information

825 Berkshire Blvd., Suite 200, Wyomissing, PA, 19610, United States

610-373-2400

www.pennentertainment.com

Market Cap

$2.15B

P/E (TTM)

-2.3

17.5

Dividend Yield

52W High

$20.61

52W Low

$11.65

52W Range

34%

Rank57Top 83.3%

2.4

F-Score

Modified Piotroski Analysis

Based on 10-year fundamentals

Weak • 2.4 / 9 points

Scoring Range (0-9)

8-9: Excellent Value

6-7: Strong Fundamentals

4-5: Average Quality

0-3: Weak Performance

Data Period: 2016-2025

Financial Dashboard

Q4 2025 Data

Revenue

$1.81B+0.00%

4-Quarter Trend

EPS

-$0.55+0.00%

4-Quarter Trend

FCF

-$83.20M+0.00%

4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

Total Revenue Increased 5.8% Total revenues reached $6.96B USD for 2025, marking a $382.9M increase over prior year results.

Adjusted EBITDA Rose 23.5% Consolidated Adjusted EBITDA improved to $830.1M USD, showing a $157.9M increase compared to 2024.

Interactive Segment Loss Narrows Interactive segment Adjusted EBITDA loss narrowed by $232.0M USD to $(267.5)M, driven by iCasino growth.

Capital Expenditures Increased Capital expenditures totaled $647.7M USD, reflecting increased investment in PENN Development Projects like Joliet.

Risk Factors

Major Goodwill Impairment Recorded Total impairment losses hit $945.3M USD, driven by an $825.0M goodwill charge in the Interactive segment.

Net Loss Significantly Worsens Net loss attributable to PENN widened substantially to $(843.1)M USD, compared to $(311.5)M loss in 2024.

High Lease and Debt Obligations Cash flow must service $967.8M USD in annual triple net lease payments and $2.9B in long-term debt.

Digital Partnership Termination Risk Termination of ESPN BET partnership required realignment, leading to potential user acquisition challenges and asset impairment.

Outlook

Development Projects Progressing Aurora Project relocation expected to open late Q2 2026; Columbus hotel targeted for Q2 2026 opening.

Omni-Channel Growth Focus Strategy centers on expanding iCasino, leveraging theScore Bet connectivity, and driving cross-sell via PENN Play loyalty.

Future Capital Expenditure Planned Anticipated $225.0M project capital expenditures for 2026, majority tied to PENN Development Projects funding structure.

Peer Comparison

Revenue (TTM)

SAH

$15.15B

+6.5%

PENN

$6.96B

+5.8%

AEO

$5.50B

+3.2%

Gross Margin (Latest Quarter)

SBET

97.6%

+76.4pp

CAKE

78.4%

+36.7pp

ZGN

67.5%

+1.1pp

Key Metrics

Symbol	Market Cap	P/E (TTM)	ROE (TTM)	Debt to Assets
DAN	$4.39B	-138.4	-2.9%	45.1%
GTX	$3.59B	11.5	-39.7%	63.7%
CAKE	$3.14B	19.8	37.1%	106.1%

Long-Term Trends

Last 4 Quarters

Revenue

Net Income

Operating Cash Flow

4Q Revenue CAGR

2.6%

Moderate Growth

4Q Net Income CAGR

N/M

Profitability Shift

Cash Flow Stability

100%

Strong Cash Flow

Deep Research

Next earnings:Apr 30, 2026

EPS:$0.12

Revenue:$1.74B

Financials

Earnings Calls

Reports

News

Income Statement

Balance Sheet

Cash Flow Statement

Ratios

% Chg.

Income Statement	LTM

No Data