PENN Posts $1.86 Billion Q2 Revenue As Retail Sets Records
PENN Entertainment reported record retail casino revenue and a return to quarterly profit for the three months to June 30, 2026, as its online division cut losses and Canadian operations gained pace.
The Wyomissing, Pennsylvania company, which trades on the Nasdaq as PENN, posted total revenue of $1.86 billion for the quarter, up from $1.77 billion a year earlier, and net income of $32.6 million against a loss of $18.3 million in the same period of 2025.
Diluted earnings reached $0.24 per share, compared with a loss of $0.12 a year earlier, while adjusted earnings came in at $0.44 per share.
Consolidated adjusted EBITDA rose to $312.6 million from $236.1 million. The results, published on August 6, span both PENN's retail casinos and its online casino business.
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Retail Casinos Set Second-Quarter Records
PENN's retail segment generated revenue of $1.5 billion and segment adjusted EBITDAR of $517.2 million, a margin of 34.4%. Nine properties set second-quarter records for revenue and adjusted EBITDAR, the company said in its quarterly investor presentation, with growth across its Northeast, South, West and Midwest regions.
Chief Executive Jay Snowden said the portfolio delivered "portfolio-wide strength" and pointed to contributions from mid- and high-worth customers.
The Northeast region remained the largest, with revenue of $731.6 million, followed by the Midwest at $320.6 million, the South at $301.9 million and the West at $151.5 million.
In June 2026 PENN opened a new hotel tower at Hollywood Casino Columbus and the new Hollywood Casino Aurora in Illinois, both of which it said were drawing early demand from higher-worth players.
Online Losses Narrow As iCasino Grows
PENN's Interactive segment, which houses its online sports betting, iCasino and media operations, reported revenue of $349.4 million, including a tax gross-up of $185.5 million.
Its adjusted EBITDA loss narrowed to $9.5 million from $62.0 million a year earlier, an improvement of $52.5 million.
The company said its standalone Hollywood iCasino product set record quarterly revenue in the United States, growing both quarter-on-quarter and year-on-year.
PENN runs its online sports betting and casino apps under brands including theScore Bet and Hollywood iCasino.
Canada Momentum And Alberta Launch
In Ontario, PENN said gaming operations continued to build momentum, helped by strong online sports betting during the 2026 FIFA World Cup and cross-selling of reactivated betting customers into iCasino.
On July 13, the company launched theScore Bet, theScore Casino and a standalone Hollywood iCasino app in Alberta, moving early into the province's newly regulated online market.
Balance Sheet And What Comes Next
PENN reported total liquidity of $1.9 billion as of June 30, 2026, including $887.2 million in cash and cash equivalents, and traditional net debt of $1.9 billion.
During the quarter it repaid the remaining $106.7 million balance of its 2.75% convertible notes due 2026 and extended the maturities on parts of its credit facilities. Snowden said the "encouraging trends" in both the retail and interactive segments had continued into July.
For the six months to June 30, 2026, PENN reported total revenue of $3.64 billion and net income of $29.8 million, as set out in the company's second-quarter results release. Operators and investors tracking the wider market can follow developments through Gambling.com's US news coverage.
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