PENN Entertainment confirms two new board members
The company has named Johnny Hartnett and Carlos Ruisanchez to serve on the board of directors.
US.- Penn Entertainment has confirmed the appointments of Johnny Hartnett and Carlos Ruisanchez to serve on the company’s board of directors. Shareholders approved the nominations at the 2025 Annual Meeting of Shareholders held today (June 17).
In a statement, the board said: “Over the past several months, we have continued to engage with our shareholders, and we look forward to incorporating feedback from those conversations as we move ahead. It is clear from this engagement that Penn’s board, management team and shareholders are aligned in their focus on ensuring Penn is achieving its full potential.”
“The board remains committed to the close oversight of our differentiated omni-channel strategy and to delivering sustainable long-term value. We recognize there is more work to be done, and we are intently focused on driving profitability in our Interactive segment and growth across the business as we continue strengthening the company’s balance sheet and liquidity position, deleveraging and accelerating capital return to shareholders.”
Last month, Penn Entertainment announced financial results for the quarter ended March 31. The company reported revenue of $1.67bn, up 4.1 per cent compared to the same period last year. Net income increased 197 per cent to $111.5m in Q1. Adjusted EBITDA grew 70.9 per cent to $173.3m. Adjusted EBITDAR rose from $154.8m to $155.9m.
Gaming revenue fell 5.1 per cent to $1.2bn, while revenue from hotel, food, beverage and others remained level at $374.2m. The interactive division reported $290.1m in revenue and adjusted EBITBA of -$89m. Monthly active users in the interactive segment rose by 3.3 per cent from Q4 but were down 18.1 per cent year-on-year at 560,000. iCasino monthly active users grew 20 per cent year-on-year.
