Penn Entertainment revenue rises in Q4
Revenue was $1.8bn, up from $1.66bn reported in the same period in 2024.
US.- Penn Entertainment has reported financial results for the quarter ended December 31, 2025. Revenue totalled $1.8bn, up from $1.66bn reported in the same period in 2024. Consolidated adjusted EBITDA was $225.8m, up from $165.2m.
Revenue for retail property was $1.4bn. Segment adjusted EBITDAR was $456.4m and segment adjusted EBITDAR 32.3 per cent. The interactive segment generated record revenue of $398.7m and adjusted EBITDA loss of $39.9m.
Jay Snowden, chief executive officer and president, said: “Penn’s diversified retail portfolio delivered a solid quarter during which retail adjusted EBITDAR grew year-over-year, after adjusting for poor weather in December. In our Interactive segment, we successfully rebranded our US online sportsbook to theScore Bet and achieved positive adjusted EBITDA in December, driven by iCasino momentum, disciplined cost management, and strong online sports betting hold rates.
“We are excited about the year ahead as we expect to generate year-over-year segment adjusted EBITDAR growth of 20% in 2026. Our retail adjusted EBITDAR is poised for a year of growth as we aim to build upon our recent openings in Joliet and in Las Vegas, deliver two additional retail growth projects by the end of the second quarter, and anniversary new supply in several of our markets. In our Interactive segment, we continue to expect to achieve break-even adjusted EBITDA, which will be one of several meaningful drivers of cash flow growth in 2026.
“We experienced record Interactive segment gaming revenue in the fourth quarter, driven by the continued growth of our standalone Hollywood iCasino product and increased cross-sell, as well as improvements in our online sportsbook product offering and operations. Revenue growth, excluding the tax gross-up, of 52% year-over-year was primarily attributable to iCasino growth of 40% and online sportsbook growth of 73%, including strong revenue and adjusted EBITDA performance in December, our first month operating as theScore Bet in the US. We are encouraged by the trajectory of our Interactive business, with a more streamlined cost structure and regionally focused marketing strategy that prioritizes jurisdictions with both legalized iCasino and online sports betting.”
Penn Entertainment recently announced the appointment of three new independent directors, Heather Ace, Jeffrey Fox, and Fabio Schiavolin, to its board, effective immediately.
