Full-Time
Operates casinos, racetracks, and online betting
No salary listed
Charles Town, WV, USA
In Person
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Penn Entertainment runs a nationwide network of casinos and racetracks and builds a strong online gaming and sports betting platform. It operates 42 casinos and racetracks across 19 states, alongside a digital sports betting and iGaming presence and sports media properties. Its products work by combining physical venues with online platforms so customers can bet, play casino games, or follow sports content across both in-person and digital channels, using a unified account and cross-channel experiences. Compared with competitors, the company differentiates itself with its large, diverse footprint and its omni‑channel approach that links land-based gaming, online wagering, and media partnerships into one ecosystem. The company’s goal is to lead the North American gaming industry by growing its community of players and expanding its integrated entertainment experiences across physical venues, online platforms, and media.
Company Size
5,001-10,000
Company Stage
IPO
Headquarters
Reading, Pennsylvania
Founded
1972
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PENN Entertainment shares have risen 49% over the past six months, significantly outperforming both the broader consumer discretionary sector and gaming industry, which declined 2.1% and 8% respectively. The rally reflects improving operational performance. PENN's retail segment generated record quarterly revenues of $1.5 billion in Q2 2026, up 4% year-over-year, with adjusted EBITDAR increasing 6% to $517.2 million. Nine properties achieved second-quarter records for both revenues and adjusted EBITDAR. Recently completed development projects are contributing to growth. Hollywood Casino Joliet performed strongly approaching its first anniversary, whilst M Resort generated record results following its new hotel tower opening. PENN raised its 2026 retail revenue guidance midpoint to $5.87 billion and adjusted EBITDAR guidance to $1.963 billion, implying mid-single-digit EBITDAR growth in the second half.
Penn plans 45 tables at Hollywood Casino New Orleans. * Penn plans 45 table games and about 875 slot machines on the new floor. * That works out to roughly 19 slot machines for every table game. * Louisiana caps the riverboat license at 2,365 gaming positions, landside or afloat. * The $195 million build targets a 2029 opening and needs state board approval. HARVEY, La. - Penn Entertainment plans 45 table games and about 875 slot machines at Hollywood Casino New Orleans, the $195 million landside property it announced Monday to replace its Boomtown riverboat in suburban Harvey. 45 tables against 875 slots. The new development runs roughly 140,000 square feet and holds about 875 slot machines, 45 table games, a retail sportsbook and several restaurants, according to Penn Entertainment's relocation announcement. The property would be rebranded from Boomtown Casino & Hotel New Orleans. The existing hotel is expected to stay open, and the riverboat is to be vacated once the landside building opens. Those two counts work out to about 19 machines for every table, the ratio that matters to anyone who plays the pits rather than the reels. A table seats six or seven. A slot seats one. Forty-five tables is the figure that decides whether a weekend crowd finds an open seat at a reasonable minimum or gets pushed toward the machines. The room would open into a metro that already deals cards, and the existing casinos for blackjack in New Orleans set the bar it has to clear. What A landside license changes in Louisiana. Coming ashore removes a physical constraint, not a legal one. Under Louisiana's gaming definitions, a landside facility with part of its designated gaming area within 1,200 feet of a riverboat's licensed berth still counts as a riverboat, and that designated gaming area may not exceed 2,365 gaming positions. The license carries its position ceiling with it. What changes is the shape of the room. A vessel dictates deck plans, column spacing and where a pit can physically go; a purpose-built building does not. Penn has run this play before. Its two Illinois boats came ashore as Hollywood Casino Joliet and, this June, Hollywood Casino Aurora, and an Iowa build in Council Bluffs is due in 2028. The announced New Orleans floor, at 875 machines and 45 tables, falls well inside the 2,365-position cap. The move does not hand a licensee more gaming positions than the statute already permits, and that is the same ceiling every one of the state's riverboat rooms works under. A new building, the same house edge. Nothing about a building moves the math on the felt. A shoe game dealt from six decks with the dealer standing on soft 17, doubling allowed after splits, late surrender on offer and a natural paying 3:2 runs about a 0.34% house edge against correct basic strategy, roughly 34 cents surrendered per $100 wagered over the long run. Pay that same natural 6:5 and the edge climbs roughly 1.39 percentage points. The probability of being dealt a natural sits near 4.75% either way. The payout is what moved, and the house edge is precisely that gap, between how often a hand really happens and what the table pays for it. The rules on the felt price a game, not the address, and that holds at a legal online blackjack table as squarely as in a new riverfront pit. The same math runs across the pit. Baccarat's Banker bet gives up about 1.06%, the best standing price in most rooms and still a slow bleed of about a dollar per $100 staked. Double-zero roulette takes 5.26% on almost every bet on the layout, more than five dollars of that same hundred. Slot machines typically run near 6%, which is why a 19-to-1 machine-to-table ratio is a revenue decision before it is a floor-plan decision. Penn has not announced deck counts, payout rules, table minimums or which games fill the 45 spots, and none of that appears in the release. Those conditions will set what a hand costs in 2029. Louisiana licenses no online casino, so the Louisiana blackjack sites its players reach from home sit offshore rather than under state regulation. The state's regulated dealt action stays on the riverboats until the new pit opens. The state board takes it up Thursday. The Louisiana Gaming Control Board is scheduled to take up the relocation Thursday, Aug. 20, at 10 a.m. at the State Capitol in Baton Rouge, in House Committee Room 1. Penn's 2029 opening target depends on that approval.
Penn Entertainment's $195M plan to relocate and modernize New Orleans casino. August 18, 2026 Overview of Penn Entertainment's major relocation project. Penn Entertainment is set to invest $195 million to move the Boomtown Casino and Hotel in New Orleans from its current riverboat location to an onshore site. This shift aims to enhance the casino's attractiveness, boost visitor numbers, and reflect changes brought by a 2018 Louisiana gambling law that allows riverboat casinos to relocate on land. Current trend of onshore casino relocations by Penn Entertainment. This move aligns with Penn Entertainment's ongoing efforts to transition its riverboat casinos inland. Recent similar projects include the Hollywood Casinos in Aurora and Joliet, Illinois, as well as an upcoming facility in Council Bluffs, Iowa, slated to open in 2028. The selected new location for the New Orleans casino is close to the existing one, and the venue will be rebranded as Hollywood Casino New Orleans. While regulatory approval is pending, the company has announced plans for the new construction. The new casino will encompass approximately 140,000 square feet and is expected to debut in 2029. Penn Entertainment's CEO, Jay Snowden, emphasized the strategic nature of this investment, highlighting a focus on sustainable growth and strong returns. Funding for the project will primarily come from the company's current cash reserves, though they remain open to other funding possibilities. Penn Entertainment's role and obligations in Louisiana's gaming market. Although casinos are permitted to move onshore with approval, they must remain within 1,200 feet of their original riverboat location and demonstrate that the relocation will benefit the local economy. Besides the New Orleans property, Penn Entertainment owns several other gaming venues in Louisiana, including L'Auberge Casino Resort Lake Charles, L'Auberge Casino Hotel Baton Rouge, Margaritaville Resort Casino, and Boomtown Casino Hotel in Bossier City. The company is a notable employer in the state, providing jobs to 3,500 Louisianians and contributing over $200 million annually in state and local taxes.
Boomtown Casino plans $195M landside move, Hollywood rebrand. KEY TAKEAWAYS: * PENN Entertainment plans to invest about $195 million to move Boomtown Casino's riverboat operations onto land in Harvey. * The 140,000-square-foot property would be rebranded as Hollywood Casino New Orleans and is expected to open in 2029. * Plans include about 875 slot machines, 45 table games, a retail sportsbook and multiple dining options. * The project requires regulatory approval and follows other Louisiana casinos that have moved landside since a 2018 state law change. Another longtime New Orleans-area casino is in line for a new name, along with a move to land. PENN Entertainment has announced plans to invest approximately $195 million to relocate Boomtown Casino & Hotel New Orleans' riverboat casino operations to a new 140,000-square-foot landside property on adjacent land in Harvey. The casino would be rebranded as Hollywood Casino New Orleans. Plans are pending regulatory approval. In a news release, PENN said it expects to finance the project with cash on hand, though the company may also access its balance sheet or other sources of liquidity. If approved, Hollywood Casino New Orleans is expected to open in 2029. The development would include approximately 875 slot machines, 45 table games, a retail sportsbook, and multiple dining options. The existing riverboat would be vacated once the new property opens, while PENN expects to keep the existing hotel open at this time. "This investment reflects our disciplined approach to capital allocation, prioritizing organic growth opportunities that build on our operational strengths and are expected to deliver compelling returns," said Jay Snowden, CEO and president of PENN Entertainment. PENN currently operates four other casino destinations in Louisiana, including L'Auberge Casino Resort Lake Charles, L'Auberge Casino Hotel Baton Rouge, Margaritaville Resort Casino, and Boomtown Casino Hotel in Bossier City. The company, which trades on Nasdaq under the ticker PENN, employs more than 3,500 people in Louisiana and contributes more than $200 million in state and local taxes annually. The proposed relocation follows a 2018 change in Louisiana law that allowed riverboat casinos to move onto land within 1,200 feet of their licensed berth. Since then, several casino operators have invested in landside moves, including Treasure Chest Casino in Kenner, Belle of Baton Rouge, now Bally's Baton Rouge, and Amelia Belle Casino near Morgan City, which has announced plans to move to land by the end of next year. The New Orleans project would be PENN's fourth landside casino relocation in recent years, following Hollywood Casino developments in Aurora and Joliet, Illinois, and Council Bluffs, Iowa, which is expected to open in 2028. "As with our previous relocations, we expect our new facility to enhance the customer experience and strengthen the property's competitive position in the New Orleans market," Snowden said. "Today's announcement highlights our continued commitment to reinvesting in our facilities and team members, and we look forward to working with the Louisiana Gaming Control Board and Jefferson Parish Council to add yet another best-in-class property to our national footprint."
PENN Entertainment met Wall Street's Q2 revenue expectations of $1.86 billion and beat earnings per share estimates significantly, posting $0.44 versus the expected $0.26. The company reported 5.2% year-on-year revenue growth and improved operating margins to 7.9%, up from 5.3% in the prior year. CEO Jay Snowden highlighted record quarterly revenues in the retail casino segment, driven by recent property development projects and increased demand from mid- and high-value customers. However, adjusted EBITDA of $312.6 million missed analyst estimates of $454.6 million by 31.2%. During the earnings call, analysts focused on Interactive segment improvements, iCasino growth trends, new property performance at Aurora, M&A appetite, and Ontario market contributions. Management emphasised cost efficiencies and indicated internal growth projects currently offer better returns than acquisitions.