Tag Archives: Penn Entertainment
US – Penn holds groundbreaking ceremony for second hotel tower at The M Resort
Penn Entertainment has hosted a groundbreaking ceremony for the second hotel tower at M Resort Spa Casino. The project, with an estimated budget of $206m, is expected to add 384 rooms to the Company’s property south of the Las Vegas Strip, bringing its total to 774 rooms and suites. Along with the rooms, there will be…
US – Penn launches era of robot security at M Resort Spa Casino in Nevada
Penn Entertainment has began using robot security at its M Resort Spa Casino in Nevada via a partnership with Knightscope, a leading developer of autonomous security robots and blue light emergency communication systems. Penn has signed an agreement with Knightscope to bring the futureristic technology to its 43 gaming and racing properties nationwide. Knightscope recently…
US – PENN and ESPN agree $1.5bn online sports betting partnership
PENN Entertainment has entered into a transformative, exclusive US online sports betting agreement with ESPN and ESPN Enterprises giving PENN exclusive rights to the number one US sports brand for an initial 10-year term for $1.5bn. The online Barstool Sportsbook will be rebranded ESPN Bet in the fall of 2023; TheScore Bet will continue to operate in Canada. ESPN…
US – PENN Entertainment hails tech migration as ‘major achievement’
PENN Entertainment has released a new and improved Barstool Sportsbook & Casino following the successful full-scale migration to the company’s proprietary online gaming technology platform, PENN Interactive Gaming Platform. Hailing the migration to its custom technology stack in the U.S. as a ‘major achievement’, the operator says the migration brings all components of its online…
US – PENN Entertainment completes buy out of Barstool Sports
PENN Entertainment has completed its previously announced acquisition of Barstool Sports, Inc. after previously acquiring a 36 per cent stake of Barstool Sports in February 2020. PENN has acquired the remaining interest in Barstool Sports for approximately $388m. The closing of the acquisition marks a major milestone for Barstool Sports as it celebrates its 20th…
US – Penn plateaus but omni-channel strategy paying off
Penn Entertainment, generated revenues of $1.6bn, an increase of 0.8 per cent year-over-year for the three months ended 31 December 31 2022. “2022 was a solid year for PENN despite ongoing macroeconomic headwinds,” said Jay Snowden, Chief Executive Officer and President. “I’m proud of PENN’s numerous financial and operational achievements in the past year as…
US – Penn up by seven per cent as ‘omnichannel strategy continues to drive growth’
PENN Entertainment reported revenues of $1.6bn, an increase of 7.5 per cent year-over-year for the three ended September 30, 2022 with the company highlighting that its omnichannel strategy is continuing to ‘drive growth across the company.’ This gave net income of $123.2m and net income margin of 7.6 per cent, as compared to net income of $86.1m and net income margin of…
US – Kambi and PENN reach agreement on PENN’s migration to proprietary sportsbook platform
Kambi Group plc and PENN Entertainment have reached an agreement over the planned migration of PENN’s online and retail sportsbooks from Kambi to PENN’s proprietary technology. PENN plans to effect the online sportsbook migration in Q3 2023 with the retail sportsbook transition expected in 2024. The parties have also agreed to cooperate on additional US…
US – Penn National Gaming changes name to Penn Entertainment
Revenues of $1.6bn for its second quarter, marking an increase of 5.2 per cent year-over-year, made it a good day for Penn National Gaming to announce its rebrand to Penn Entertainment. Jay Snowden, Chief Executive Officer and President, announced: “Today is an exciting day for us as we become PENN Entertainment, Inc. Over the past few years, PENN has…
