Penn earnings show smaller Q4 loss after strategy shift

"PENN's diversified retail portfolio delivered a solid quarter during which retail adjusted EBITDAR grew year-over-year, after adjusting for poor weather in December. The company's interactive arm, which includes online sports betting and iCasino, hit a milestone in December by generating positive adjusted EBITDA for the month, attributed to rising iCasino activity, tighter expense management, and better sportsbook results after rebranding its U.S. platform to theScore Bet."

"For the quarter ending December 31, revenue climbed to $1.81 billion, up from $1.67 billion a year earlier. The company still posted a net loss, but it shrank to $73.4 million compared with $133.8 million in the same quarter last year. Adjusted EBITDA across the business rose to roughly $225.8 million from $165.2 million, while diluted loss per share improved to $0.55."

"PENN Entertainment's online sports betting platform generated an 8.8% hold percentage in FY 2025, an improvement of 237 basis points from its 6.4% hold in 2024. Interactive revenue, including tax gross-ups, reached $398.7 million in the quarter, fueled by double-digit growth in both online casino and sportsbook operations."

Penn Entertainment reported improved financial results for Q4 2025, with revenue increasing to $1.81 billion from $1.67 billion year-over-year. The company's net loss narrowed significantly to $73.4 million compared to $133.8 million in the prior year quarter. Adjusted EBITDA rose to $225.8 million from $165.2 million. The company's retail casino portfolio demonstrated solid performance across multiple regions, generating $456.4 million in segment adjusted EBITDAR with 32.3% margins. The interactive division achieved a major milestone by posting positive adjusted EBITDA in December, supported by strong iCasino growth, improved sportsbook results following the theScore Bet rebranding, and disciplined expense management. Interactive revenue reached $398.7 million with double-digit growth in both online casino and sportsbook segments.

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