| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 1.8K | 6.4% |
| Total Income | 1.8K | 6.4% |
| Expenditure | 1.7K | 3.2% |
| PBT | 5.90 | 96.3% |
| Net Profit | -2.30 | 102.1% |
| OPM | 5.46% | 2.90pp |
| NPM | -0.13% | 6.81pp |
| EPS | -0.02 | 102.7% |
PENN Entertainment Reports Q1 2026 Results
23 Apr 2026 · 23 Apr, 4:30 pm
Summary
PENN Entertainment reported its first quarter results, with CEO Jay Snowden highlighting a solid quarter. The retail segment saw adjusted EBITDAR growth year-over-year, while the interactive segment showed improvement driven by online casino growth and positive trends in Ontario. The company is preparing for the launch of regulated iCasino and online sports betting in Alberta. Total revenues for the quarter ended March 31, 2026, were $1,779.1 million compared to $1,672.5 million for the same period in 2025.
Key Highlights
- 1
PENN Entertainment's retail segment adjusted EBITDAR grew year-over-year, with stable trends continuing into April.
- 2
Interactive segment revenues reached $358.3 million, including a tax gross up of $185.8 million.
- 3
The Interactive segment delivered a meaningful Adjusted EBITDA improvement year-over-year.
- 4
iCasino revenue growth was approximately 15% year-over-year, driven by standalone iCasino momentum.
- 5
Total liquidity as of March 31, 2026, was $1.7 billion, inclusive of $708.0 million in cash and cash equivalents.
- 6
First quarter retail segment revenues totaled $1.4 billion.
- 7
First quarter retail segment adjusted EBITDAR reached $471.4 million, with margins of 33.2%.
Management Comments
Jay Snowden
We are pleased to report another solid quarter. Retail Segment Adjusted EBITDAR grew year-over-year and stable trends are carrying into April. In our Interactive segment, continued online casino growth combined with positive trends in Ontario are driving momentum as we prepare for the anticipated July 13 launch of regulated iCasino and online sports betting in Alberta1. Importantly, we are executing on the plan we outlined last quarter, driving Retail and Interactive growth, optimizing corporate overhead, making disciplined capital investments, and continuing to delever.
Jay Snowden
Trends were encouraging across the portfolio, with strength in our West segment reflecting the continued ramp of M Resort’s new hotel tower and strong execution by the team at Ameristar Casino Resort and Spa in Black Hawk, Colorado. Increased visitation and higher spend per visit companywide supported year-over-year theoretical revenue growth across all rated worth segments, representing our largest quarterly increase in three years. We recently announced the June opening dates1 for the new hotel tower at Hollywood Columbus and the new Hollywood Casino Aurora and remain excited about the anticipated returns on our development project investments based on the success to date from our recent openings at Hollywood Casino Joliet and M Resort.
Jay Snowden
Our Interactive segment delivered a meaningful Adjusted EBITDA improvement year-over-year, which marks the first full quarter under our realigned digital strategy. iCasino revenue growth of approximately 15% year-over-year was driven by the continued momentum of standalone iCasino, which notably achieved record quarterly revenue in the first quarter as well as record monthly revenue in March. The trends we are seeing provide us with confidence in the trajectory of the business and upcoming launch in Alberta1.
Informational and educational content only. Not investment advice.