PENN Entertainment met Wall Street's revenue expectations in Q2 2026, with sales up 5.2% year on year to $1.86 billion. Its non-GAAP profit of $0.44 per share was 66.9% above analysts' consensus estimates. The casino and sports betting operator attributed strong performance to its retail casino segment, which achieved record quarterly revenues. CEO Jay Snowden highlighted momentum from recently completed property developments and increased demand from mid- and high-value customers. The company also reported improved efficiency in its interactive segment, with its US Hollywood branded casino app achieving record revenues. Management cited disciplined marketing spend and improved technology partnerships for narrowing losses. PENN raised its full-year 2026 retail revenue guidance following the results. The company is focusing on expanding its iCasino and Canadian operations whilst maintaining capital discipline.

Penn returns to profit in Q2. Penn Entertainment returned to profit in the second quarter of 2026, reporting net income of about €28.0m ($32.6m). Revenue rose 5% year on year to roughly €1.60bn ($1.86bn), while adjusted EBITDA and per-share earnings also improved as the group continued to repair its financial position. Profit returns as revenue climbs. Penn's Q2 results marked a clear step forward after a weak opening to the year. Net income reached about €28.0m ($32.6m), compared with a €15.7m ($18.3m) loss in the same quarter of 2025. The company had still been in the red in Q1 2026, when it posted a €2.4m ($2.8m) loss. The latest quarter therefore showed a meaningful reversal rather than a marginal improvement. Revenue climbed 5% to around €1.60bn ($1.86bn), giving the operator enough top-line growth to support the turnaround. Consolidated adjusted EBITDA increased 32% from about €203.0m ($236.1m) to €268.8m ($312.6m). Diluted earnings per common share also moved back into positive territory at roughly €0.21 ($0.24). Even so, the quarter remained below Penn's last strong profit period, when Q1 2025 delivered about €95.9m ($111.5m) in net income. Regional segments supported the recovery. Management said the improvement was not limited to one part of the business. Penn reported higher EBITDA across its northeast, south, west, midwest and interactive segments compared with the same quarter of 2025. That breadth suggests the recovery is spreading across the group rather than depending on a single market. The main exception was the southern business, where revenue slipped slightly in the period. The company has also kept its attention on costs while trying to improve earnings quality. Jay Snowden has pointed to segment adjusted EBITDAR growth, lower corporate overheads, stronger cash flow and balance sheet deleveraging as core priorities. Those measures are important because Penn is trying to make the rebound sustainable, not just temporary. The combination of revenue growth and tighter spending gave the group room to show progress on several fronts at once. Interactive division still faces pressure. The interactive unit remained the weakest part of the portfolio, although the losses narrowed sharply. The division lost about €8.2m ($9.5m) in Q2 2026, down from roughly €53.3m ($62m) a year earlier. That improvement came after a difficult stretch that included the premature end of the ESPN Bet branding deal in 2025. Penn has since shifted its focus back toward Canada and other digital products. Jay Snowden, Chief Executive Officer of Penn Entertainment, said: "Growth in US iCasino and Canada is keeping the interactive segment "on track to deliver upon its previously stated goals."" He added that the positive trend has continued into Q3 so far. The quarter also covered significant layoffs inside the interactive business, including at least 75 jobs cut across multiple levels of theScore Bet in May. That leaves Penn with a stronger near-term picture, but also with clear pressure to prove that the digital unit can become a steadier contributor. For now, the latest results show a company that is recovering, yet still not fully rebuilt.

PENN Entertainment reports record Q2 casino results. PENN Entertainment reports record Q2 casino results vanja mitic august 7, 2026 latest Casino and gambling news. PENN Entertainment reported stronger financial results for the second quarter of 2026, supported by record performances across its retail casino portfolio and continued improvement in its interactive operations. The company generated $1.86 billion in revenue for the three months ended June 30, 2026, compared with $1.77 billion during the same period a year earlier. Net income reached $32.6 million, reversing a loss of $18.3 million recorded in the second quarter of 2025. PENN's consolidated adjusted EBITDA increased to $312.6 million from $236.1 million year-over-year, while diluted earnings per share improved to $0.24 from a loss per share of $0.12 in the prior-year quarter. For the first six months of 2026, revenue totaled $3.64 billion, compared with $3.44 billion during the first half of 2025. Consolidated adjusted EBITDA for the six-month period rose to $578.4 million from $409.4 million. Retail casinos deliver strong quarterly performance. PENN's retail segment remained the primary driver of quarterly growth, with nine properties achieving their highest second-quarter revenue and adjusted EBITDAR results on record. The segment produced $1.5 billion in revenue and adjusted EBITDAR of $517.2 million, representing a margin of 34.4%. The company attributed the performance to broad demand across its geographically diverse casino portfolio and stronger contributions from higher-value customers. "PENN's geographically diverse Retail segment delivered portfolio-wide strength, with nine properties setting second-quarter records for revenues and Adjusted EBITDAR," said Jay Snowden, Chief Executive Officer and President of PENN Entertainment. Snowden added that the company recorded another period of year-over-year growth in theoretical revenue, supported by increased activity from mid- and high-worth customers as well as growth from unrated players. The company also highlighted developments at two properties opened in June 2026. PENN launched a new hotel tower at Hollywood Columbus and opened the new Hollywood Casino Aurora. Early performance indicators at both locations included strong visitation from VIP customers. The company's retail operations include properties across multiple regions, with its Northeast, South, West and Midwest segments contributing to overall performance. Interactive business improves as digital operations expand. PENN's Interactive segment continued to reduce losses while increasing revenue. Interactive revenue reached $349.4 million in the second quarter, including a tax gross-up of $185.5 million, compared with $316.1 million in the same period of 2025. The segment's adjusted EBITDA loss narrowed significantly to $9.5 million from $62 million a year earlier. During the first half of 2026, Interactive revenue increased to $707.7 million from $606.2 million, while the adjusted EBITDA loss improved to $20.4 million from $151 million. The company pointed to stronger results from its U.S. iCasino operations and Canadian activities as contributors to the improvement. "Our Interactive segment delivered another quarter of meaningful year-over-year Adjusted EBITDA improvement," Snowden said in a press release. "In the U.S., standalone Hollywood iCasino experienced quarter-over-quarter as well as year-over-year growth, achieving record quarterly revenues." PENN also reported continued momentum in Ontario, where online sports betting revenue benefited from World Cup-related engagement and renewed activity among sports betting customers who later used iCasino products. The company launched theScore Bet, theScore Casino and Hollywood iCasino standalone applications in Alberta on July 13, expanding its digital presence in the province. Company strengthens financial position. PENN ended the quarter with total liquidity of $1.9 billion, including $887.2 million in cash and cash equivalents. Traditional net debt stood at $1.9 billion as of June 30, 2026. During the quarter, PENN completed several financial actions, including refinancing and extending credit facilities. The company amended its revolving credit facility and term loan arrangements, repaid the remaining $106.7 million balance of its 2026 convertible notes and extended the maturity of its Term Loan B facility to 2033. Snowden said the company remained focused on its 2026 priorities, including improving segment profitability, managing corporate costs, increasing cash flow and reducing leverage. "We continued to execute against our 2026 strategic priorities this quarter: delivering Segment Adjusted EBITDAR growth, optimizing corporate overhead, growing cash flow, and deleveraging the balance sheet," Snowden said.