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PENN Entertainment, Inc., together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences in the United States and internationally. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates a portfolio of casinos, racetracks, and online sports betting; online gaming portfolio, such as theScore Bet, an online sportsbook; theScore Casino, a stand-alone iCasino website and app; Hollywood Casino, an iCasino and theScore Bet website and app; PENN Game Studios, its in-house iCasino and social gaming content studio; and PENN Play, a customer loyalty program. The company also engages in gaming operations, including slot machines and table games; food and beverage offerings; and hotel visitation. It offers its products under the Ameristar, Argosy, Boomtown, Hollywood Casino, Hollywood Gaming, L'Auberge, M Resort, PENN Entertainment, and PENN Play, as well as theScore, theScore Bet, and theScore esports brands. 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.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $7.0B | $32M | $-843M | $-177M | -46.0% | 5.8% | 170.7% |
| 2024 | $6.6B | $563M | $-312M | $-181M | -10.9% | 3.4% | -36.4% |
| 2023 | $6.4B | $400M | $-490M | $74M | -15.3% | -0.6% | -320.6% |
| 2022 | $6.4B | $1.5B | $222M | $606M | 6.2% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 6,401.70 | 6,362.90 | 6,578.10 | 6,961 |
| Cost Of Revenue | - | 3,631.60 | 4,000.80 | 4,414.50 | 4,608.60 |
| Gross Profit | - | 2,770.10 | 2,362.10 | 2,163.60 | 2,352.40 |
| Operating Expense | - | 1,677.90 | 1,998.50 | 2,002 | 2,080.70 |
| Operating Income | - | 1,092.20 | 363.60 | 161.60 | 271.70 |
| EBITDA | - | 1,501 | 400.20 | 562.80 | 32 |
| EBIT | - | 933.50 | -34.90 | 129.20 | -414.90 |
| Pretax Income | - | 175.30 | -499.60 | -341.30 | -820.70 |
| Tax Provision | - | -46.40 | -8.20 | -28 | 24.60 |
| Net Income | - | 222.10 | -490 | -311.50 | -843.10 |
| Net Income Common Stockholders | - | 221.20 | -490 | -311.50 | -843.10 |
| Total Expenses | - | 5,309.50 | 5,999.30 | 6,416.50 | 6,689.30 |
| Interest Expense | - | 758.20 | 464.70 | 470.50 | 405.80 |
| Interest Income | - | 18.30 | 40.30 | 23.60 | 9.70 |
| Selling General And Administration | - | 1,110.40 | 1,563.40 | 1,568.40 | 1,633.80 |
| Normalized EBITDA | - | 1,629.60 | 869.80 | 652.20 | 985.80 |
| Normalized Income | - | 323.69 | -28.38 | -229.43 | -89.60 |
| Market Cap | 2,302.34 | 2,302.34 | 2,302.34 | 2,302.34 | 2,302.34 |
Consumer Cyclical sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| PENN Entertainment, Inc.this co. | PENN | - | -2.73 | 1.26 | -46.0% | 402.75 |
| The Buckle, Inc. | BKE | $2.8B | 13.79 | 6.81 | 49.4% | 10.55 |
| Steven Madden, Ltd. | SHOO | $2.7B | 63.10 | 3.25 | 5.2% | 25.85 |
| OneSpaWorld Holdings Limited | OSW | $2.5B | 34.20 | 4.51 | 13.2% | 23.59 |
| Versigent PLC | VGNT | $2.5B | 5.04 |
| - |
| - |
| - |
| - |
| - |
| - |
| 1.50 |
| 29.8% |
| 2.76 |
| Sonic Automotive, Inc. | SAH | $2.4B | 20.32 | 2.26 | 11.1% | 12.63 |
| Mister Car Wash, Inc. | MCW | $2.3B | 22.53 | 2.05 | 9.1% | 14.11 |
| HNI Corporation | HNI | $1.8B | 50.08 | 1.48 | 3.0% | 17.55 |
| CarGurus, Inc. | CARG | $1.6B | 21.76 | 9.07 | 41.7% | 12.42 |
| Peer Median | - | 22.15 | 2.76 | 12.2% | 13.37 | |