PENN Entertainment said it expects to launch a standalone Hollywood online casino app by early 2025. The company also reported second-quarter 2024 revenue of $1.66bn and a net loss of $27.1m, compared with $78.1m net income a year earlier. PENN said the app is part of plans to make its Interactive segment cash-flow positive by 2026.
The planned standalone app supports PENN’s goal of making its Interactive segment cash-flow positive.
Quarter ended 30 September 2026
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FanDuel, part of Flutter Entertainment, plans to launch the FanDuel Predicts app with CME Group in December, the companies said. It will offer sports event contracts in states where online sports betting is not legal, and stop offering them in a state once sports betting becomes legal there. Contracts will also cover financial benchmarks, commodities, cryptocurrencies and economic indicators.
The Problem Gambling Help Network of West Virginia and CHESS Health have launched a customised Connections recovery app for gambling-related support in West Virginia. The app includes crisis support, virtual meetings, moderated peer communities, daily check-ins and the 1-800-GAMBLER hotline, the health network said.
Betr said it will launch prediction markets in its app through a partnership with Polymarket in the US. The offering is planned to cover event contracts in sports, politics, finance and culture.
PENN Entertainment plans to increase its lobbying activity in Texas after the US midterm elections, chief executive Jay Snowden said during the company’s third-quarter earnings call. He said the company was prepared to expand its presence as legalisation discussions develop, but election results do not ensure legislation will advance. Texas would need a constitutional amendment approved by two-thirds of both legislative chambers and then a statewide vote to legalise casino gambling or sports betting.
PENN Entertainment intends to intensify its Texas lobbying after the U.S. midterm elections, chief executive Jay Snowden said. The company was also prepared to expand its presence as gambling legalisation talks progress, following decades of investment in the state.
PENN Entertainment's chief executive said losses in its interactive unit are largely behind the business, according to the report. The company also said its early performance in Alberta was in line with the market share it had built in Ontario.