| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 1.9K | 4.4% | 5.2% |
| Total Income | 1.9K | 4.4% | 5.2% |
| Expenditure | 1.7K | 2.6% | 2.3% |
| PBT | 39.70 | 572.9% | 433.6% |
| Net Profit | 33.10 | 1539.1% | 290.2% |
| OPM | 7.09% | 1.63pp | 2.70pp |
| NPM | 1.78% | 1.91pp | 2.77pp |
| EPS | 0.25 | 1350.0% | 308.3% |
PENN Entertainment Reports Q2 2026 Results
06 Aug 2026 · 6 Aug, 4:37 pm
Summary
PENN Entertainment reported second quarter 2026 revenues of $1.86 billion, a year-over-year increase. Consolidated Adjusted EBITDA rose significantly to $312.6 million from $236.1 million in the prior year, driven by strong performance in both the Retail and Interactive segments. The Retail segment saw record revenues and improved margins, while the Interactive segment showed substantial year-over-year Adjusted EBITDA improvement. Management highlighted disciplined execution of strategic priorities and encouraging trends continuing into July.
Key Highlights
- 1
PENN Entertainment reported total revenues of $1.86 billion for the second quarter of 2026.
- 2
Consolidated Adjusted EBITDA increased to $312.6 million for the second quarter of 2026, up from $236.1 million in the prior year.
- 3
The Retail segment achieved record quarterly revenues of $1.5 billion, with nine properties setting second-quarter records for revenues and Adjusted EBITDAR.
- 4
The Interactive segment delivered another quarter of meaningful year-over-year Adjusted EBITDA improvement, with U.S. iCasino achieving record quarterly revenues.
- 5
Total liquidity as of June 30, 2026, was $1.9 billion, including $887.2 million of cash and cash equivalents.
- 6
Diluted earnings per common share was $0.24 for the second quarter of 2026, compared to a loss of $0.12 in the prior year.
Management Comments
Jay Snowden
We continued to execute against our 2026 strategic priorities this quarter: delivering Segment Adjusted EBITDAR growth, optimizing corporate overhead, growing cash flow, and deleveraging the balance sheet. PENN achieved record quarterly Retail segment revenues, supported by strong performance across our portfolio including our four recently completed development projects. Our Interactive segment remains on track to deliver upon our previously stated goals, supported by growth in U.S. iCasino and Canada. Adjusted EBITDA improved by $52.5 million year-over-year, reflecting disciplined execution of our strategy to drive profitability. The encouraging trends in our Retail and Interactive operating segments have continued through July. PENN’s geographically diverse Retail segment delivered portfolio-wide strength, with nine properties setting second-quarter records for revenues and Adjusted EBITDAR. We experienced another quarter of year-over-year growth in theoretical revenue, supported by meaningful contributions from mid- and high-worth customer segments, as well as growth in unrated revenue, underscoring broad-based consumer demand. Second-quarter Segment Adjusted EBITDAR margins improved quarter-over-quarter and year-over-year, reflecting our property teams’ focus on converting solid demand into favorable operating results. In June 2026, we opened both the new hotel tower at Hollywood Columbus and the new Hollywood Casino Aurora, and early trends at both properties are encouraging, including strong visitation from VIP players. Our Interactive segment delivered another quarter of meaningful year-over-year Adjusted EBITDA improvement. In the U.S., standalone Hollywood iCasino experienced quarter-over-quarter as well as year-over-year growth, achieving record quarterly revenues. In Ontario, gaming operations continued to gain momentum, supported by strong growth in online sports betting (“OSB”) revenues aided by solid World Cup engagement and cross-sell of the reactivated World Cup OSB user base into iCasino. We also successfully launched theScore Bet, as well as theScore Casino and Hollywood iCasino standalone apps, in Alberta on July 13.
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