Penn Entertainment reports $1.61bn in revenue for Q1

Penn Entertainment’s first-quarter revenue decreased 3.8 per cent year-on-year.

US.- Penn Entertainment has announced financial results for the quarter ended March 31. The company reported revenue of $1.61bn, down 3.8 per cent compared to the same period last year. Gaming revenue fell 5.1 per cent to $1.26bn, while revenue from hotel, food, beverage, and others remained level at $348.6m.

The Northeast segment remained the main revenue source, generating $648.7m, down 2.3 per cent due to adverse weather conditions. The South, Midwest, and West segments also saw revenue declines. Revenue from Penn’s Interactive segment fell11.1 per cent to $207.7m.

CEO and president Jay Snowden said: “We look forward to unveiling additional product enhancements and unique media integrations with ESPN ahead of the 2024 football season,” said Snowden. “Our improved online product offering will help engage, reactivate and retain our expanding database, while also advancing our strategy to create a highly differentiated experience for sports fans and sports bettors.”

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