PENN Entertainment rebrands 10 more properties to ESPN Bet
Penn Entertainment, an American entertainment company and operator of integrated entertainment, sports content, and casino gambling, together with its latest addition, ESPN...
Penn Entertainment reports ESPN Bet losses despite solid Q4
An American entertainment corporation operating casinos, sports programming, and integrated entertainment, Penn Entertainment, shared its Q4 results, highlighting EBITDA of $461.2 million and a margin of 33.1%.
Despite stability in the financial segment, Penn Entertainment’s interactive segment, which includes ESPN Bet, faced serious challenges and signalled the impossibility of a long-term commitment beyond the initial three-year deal.
CEO Jay Snowden commented:
“As you get into 2026, you get the third anniversary of our relationship with ESPN, and both sides expect to be in a really good place. We are head down, laser-focused. We have tremendous plans in place for 2025 and 2026. But for one, if we’re not hitting the levels that we need to, then, obviously, as you’re approaching that third anniversary, you have a three-year clause in the contract that both sides will have to do what’s in their best interest. That’s always out there.”
However, despite challenges, the company announced its plans to repurchase $350 million in shares throughout 2025.
Snowden stated:
“We picked that number because we felt like if you’re going to do something, you want it to be substantive. That’s a little north of 10% of the market cap overall.”
Penn’s Q4 results are not surprising as earlier, back in November 2024, Penn reported declines for Q3 as well.
Penn Entertainment is expanding its operations
Penn Entertainment is committed to expanding its operations with projects underway in Nebraska, Illinois, and Louisiana. However, the company is concerned about the ongoing tax hikes in different states, arguing that regulators should focus on shutting down illegal operators instead of increasing fees for licensed operators.
PENN launches Hollywood Casino app in Pennsylvania
An American entertainment corporation operating casinos, sports programming, and integrated entertainment, Penn Entertainment, has officially announced the launch of its...
