Penn Entertainment reports $1.5bn third-quarter revenue
Results1 min read
In brief
- Penn Entertainment reported third-quarter revenue of $1.5bn and Adjusted EBITDAR of $501.8m.
- Its interactive business had revenue of $348.4m and an Adjusted EBITDA loss of $18.3m.
- Total liquidity as of 30 September was $2bn; traditional net debt was $1.8bn.
Penn Entertainment reported financial results for the third quarter on Thursday morning, including what it described as record revenue. Revenue reached $1.5bn and Adjusted EBITDAR was $501.8m. Segment Adjusted EBITDAR margins were 33.7%.
The interactive business generated $348.4 million in revenue. Of that revenue, $191.4 million was tax gross-up. The same business posted a loss of $18.3 million in Segment Adjusted EBITDAR. The northeast segment was strongest on both revenue and Segment Adjusted EBIDTAR, at $708.3 million and $208.1 million respectively.
Total liquidity as of 30 September was $2bn, including $1bn of cash and cash equivalents. Traditional net debt as of 30 September was $1.8bn.
- Third-quarter revenue
- $1.5bn
- Adjusted EBITDAR, third quarter
- $501.8m
- Interactive revenue
- $348.4m
- Interactive Adjusted EBITDA loss
- −$18.3m