PENN Entertainment

PENN Entertainment, Inc. (Nasdaq: PENN) is North America's leading provider of integrated entertainment, sports content, and casino gaming experiences.

PENN operates 43 casinos and racetracks across 20 US states, offering a diverse portfolio of gaming properties under brands like Hollywood Casino and L'Auberge. The company reported annual revenue of USD 6.28 billion for its most recent full fiscal year. PENN was founded in 1972 as Penn National Race Course and went public in 1994. In August 2022, the company changed its name from Penn National Gaming to PENN Entertainment to reflect its evolution beyond traditional gaming.

PENN Entertainment's key business segments include:

• Retail casino operations across the Northeast, South, West and Midwest regions

• Online sports betting through ESPN BET, launched in November 2023 across 17 states

• iCasino offerings in select jurisdictions

• Sports media assets including theScore in Canada

The company has invested heavily in developing its own proprietary technology stack for online betting, including player account management and risk/trading platforms. PENN also operates an in-house iCasino content studio to create exclusive games.

PENN Entertainment is focusing on expanding its ESPN BET brand, having launched in North Carolina in March 2024 and planning a New York launch later in 2024 after acquiring a license there. The company sees significant cross-sell opportunities between its retail casino database and online offerings. PENN is also continuing to invest in its loyalty program PENN Play, which had over 27 million members as of late 2023. Additionally, the company has several retail casino expansion projects underway expected to be completed in 2025-2026.