Better Collective reported its 2025 Q4 results, generating €94 million in revenue, which was a 2% year-on-year decrease.On the other hand, Q4 EBITDA before special items...
Penn Entertainment Q4 revenue rises to $1.8B
Penn Entertainment posted its 2025 Q4 results on February 26, 2026, showing revenue of $1.8 billion, compared to $1.66 billion in 2024, which was an 8.2% year-on-year increase.
Consolidated adjusted EBITDA also increased to $225.8 million, up from 2024’s $165.2 million. Retail property revenue was $1.4 billion, with segment adjusted EBITDAR at $456.4 million. Meanwhile, the interactive segment posted record revenue of $398.7 million but a $39.9 million loss in adjusted EBITDA.
Jay Snowden, chief executive officer and president, said:
“Penn’s diversified retail portfolio delivered a solid quarter during which retail adjusted EBITDAR grew year-over-year, after adjusting for poor weather in December. In our interactive segment, we successfully rebranded our US online sportsbook to theScore Bet and achieved positive adjusted EBITDA in December, driven by iCasino momentum, disciplined cost management, and strong online sports betting hold rates.”
Penn reported $0.07 earnings per share for Q4. The company had a negative net margin of 13.24% and a negative return on equity of 4.59%.
Snowden added:
“We are excited about the year ahead, as we expect to generate year-over-year segment adjusted EBITDAR growth of 20% in 2026. Our retail adjusted EBITDAR is poised for a year of growth as we aim to build upon our recent openings in Joliet and Las Vegas, deliver two additional retail growth projects by the end of the second quarter, and celebrate new supply in several of our markets. In our interactive segment, we continue to expect to achieve break-even adjusted EBITDA, which will be one of several meaningful drivers of cash flow growth in 2026.”
Penn is still facing some legal and regulatory uncertainty connected to prediction markets, as management flagged unresolved issues around the latest state-level action against event contracts; however, the company confirmed it wouldn’t take steps that could get in the way of its land-based gaming licenses.
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