PENN Entertainment Q1 revenue beats estimates on retail segment growth

PENN Entertainment

23/04/2026 12:15

Overview

U.S. casino and online gaming operator's Q1 revenue grew yr/yr, beating analyst expectations

Adjusted EBITDA for Q1 missed analyst expectations

Company reported Q1 net loss and diluted EPS fell to a loss

Outlook

Company expects stable trends in Retail segment to continue into current quarter

PENN anticipates July 13 launch of regulated iCasino and online sports betting in Alberta

Company sees continued momentum in Interactive segment driven by online casino growth

Result Drivers

RETAIL SEGMENT GROWTH - Retail segment Adjusted EBITDAR grew yr/yr, supported by increased visitation and higher spend per visit across the portfolio

WEST SEGMENT PERFORMANCE - Strength in the West segment driven by the ramp of M Resort’s new hotel tower and strong execution at Ameristar Casino Resort and Spa in Black Hawk, Colorado

INTERACTIVE SEGMENT MOMENTUM - iCasino revenue grew approximately 15% yr/yr, achieving record quarterly and monthly revenues, and Interactive segment Adjusted EBITDA loss improved

Company press release: ID:nBw9y2CkRa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$1.78 bln
$1.75 bln (16 Analysts)
Q1 EPS
-$0.02
Q1 Net Income
-$2.80 mln
Q1 Adjusted EBITDA
Miss
$265.80 mln
$359.86 mln (13 Analysts)

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 9 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the casinos & gaming peer group is "buy"

Wall Street's median 12-month price target for PENN Entertainment Inc is $20.00, about 35.4% above its April 22 closing price of $14.77

The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 12 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)