Reports Q2 revenue $1.66B, consensus $1.65B. Reports Q2 adjusted EBITDAR $367M. Jay Snowden, CEO and President, said: “Our retail business remained stable as consistent consumer trends, our diverse portfolio, and recent capital investments offset known, new supply in certain markets,” said Mr. Snowden. “We remain focused on database growth and driving engagement through new technology, continued investment in our gaming and non-gaming offerings, and local and national partnerships related to our food and beverage offerings. Cross-sell opportunities from our ESPN BET customers remain a key growth driver for us, as our PENN Play(TM) database has grown to approximately 31 million members, including 3.8 million in our digital database, which is an increase of more than 80% since the launch of ESPN BET. We are also making solid progress on our four development projects, all of which remain on budget and on schedule.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PENN:
- PENN Upcoming Earnings Report: What to Expect?
- Penn Entertainment participates in a conference call with JMP Securities
- Nevada reports June statewide gaming win up 3.26% to $1.289B
- Bet On It: Apollo to buy IGT unit and Everi in $6.3B package deal
- Penn National call volume above normal and directionally bullish