Penn reports $1.67bn fourth-quarter revenue as Interactive posts loss
Penn Entertainment reported fourth-quarter revenue of $1.67bn, up from $1.4bn a year earlier, and a net loss of $133.8m. Its Interactive segment recorded $275m in revenue and an adjusted EBITDA loss of $109.8m; chief executive Jay Snowden said Penn could reduce costs tied to its ESPN agreement if performance falls short.
Penn’s Interactive losses and potential ESPN cost reductions give investors insight into digital performance and management’s response options.