PENN Entertainment, Inc. reported a total revenue of $6.96 billion for the fiscal year ending December 31, 2025, marking a 5.8% increase from $6.58 billion in 2024. The company's gaming revenue rose to $5.35 billion, up from $5.17 billion the previous year, driven primarily by growth in online gaming and the successful openings of new facilities, including the Joliet and M Resort projects. However, the company also recorded a net loss of $845.3 million, significantly higher than the $313.3 million loss reported in 2024. This loss was largely attributed to an impairment charge of $945.3 million, primarily related to goodwill in the Interactive segment following the termination of its Sportsbook Agreement with ESPN.
In terms of operational changes, PENN Entertainment underwent a strategic realignment of its digital offerings, rebranding its online sportsbook to theScore Bet after ending its partnership with ESPN. This shift aims to leverage theScore media app, which has approximately 4 million monthly active users, to enhance customer acquisition and cross-sell opportunities. The company also completed significant development projects, including the relocation of its Ameristar Council Bluffs operations to a new land-based facility, which is expected to open in late 2027 to early 2028.
PENN's workforce comprised approximately 23,441 employees as of December 31, 2025, with 4,286 of those being unionized under 35 collective bargaining agreements. The company continues to focus on employee engagement and development, implementing various initiatives to support its workforce. The company’s customer loyalty program, PENN Play, has over 33 million members, contributing to its competitive positioning in the gaming market.
Looking ahead, PENN Entertainment anticipates that its cash flow from operations, combined with available liquidity from its credit facilities, will be sufficient to meet its obligations, including those under its triple net leases and capital expenditures. However, the company acknowledges that its future performance is subject to various risks, including economic conditions, competition, and the success of its strategic initiatives. The company plans to continue expanding its gaming operations and enhancing its digital offerings to drive growth in the coming years.
About PENN Entertainment, Inc.
Penn Entertainment, Inc. is a leading provider of integrated entertainment, sports content, and casino gaming in North America. It operates a diversified portfolio of land-based casinos, racetracks, and online sports betting and iCasino platforms under brands like Hollywood Casino, ESPN BET, and theScore BET. The company leverages media partnerships, proprietary technology, and loyalty programs to attract and retain customers across multiple jurisdictions.
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