Penn Entertainment is ending its partnership with ESPN, shutting down ESPN Bet, the joint sportsbook the two companies launched more than two years ago.The announcement...
Penn Entertainment: Q3 results & a digital strategy refocus
Penn Entertainment’s Q3 2025 results came with an announcement about the company’s plans to realign its digital strategy.
The update coincided with the news that Penn will end its sports betting partnership with ESPN ahead of schedule.
Commenting on the move, CEO and President Jay Snowden said the company’s strength lies in its unique omnichannel strategy, built on a solid mix of top-performing regional casinos and a growing digital division.
Snowden stated:
“We are realigning our digital focus to leverage the strength of our US icasino and Canadian operations, while continuing to use OSB to drive both the acquisition of customers with significant lifetime value and unique cross-sell opportunities across Penn’s retail and digital assets.”
Penn Entertainment reported total revenue of $1.72 billion for the quarter, up from $1.64 billion in the same period last year. The company posted a net loss of $865.1 million, compared to a loss of $37.5 million a year earlier.
Adjusted EBITDA reached $194.9 million, slightly higher than the $193.5 million recorded last year.
The interactive segment alone generated $297.7 million in revenue, with an adjusted EBITDA loss of $76.6 million. Its retail property segment brought in revenues of $1.4 billion with adjusted EBITDAR of $465.8 million.
The CEO continued:
“Gaming revenues and Adjusted EBITDA in the quarter came in below expectations due to customer-friendly hold across our digital operations and lower than anticipated OSB volumes. Meanwhile, our North America icasino business achieved its highest quarterly gaming revenue to date, an improvement of nearly 40 per cent year-over-year, driven by record cross-sell from OSB of 62 per cent and growth from our standalone Hollywood and theScore Bet iCasino apps.”
Snowden noted that Penn’s third-quarter performance was driven by strong results at properties in the West segment, as well as in Ohio, St. Louis, and Illinois. The company also saw increases in theoretical revenue across all rated-worth segments of its retail portfolio, along with overall growth in visitation and spend per visit.
Penn Entertainment prepares to open retail sportsbooks at its two casinos in Missouri, intending to become a key player in the state's sports betting market.Penn posted...
