Operator News
US – Penn Entertainment’s North East casinos help maintain revenue growth
By Phil - 14 August 2023
PENN Entertainment generated second-quarter revenues of $1.67bn, an increase of 2.9 per cent year-over-year, but with revenue declines in Penn’s South, West, and Midwest divisions, it was left to the North East casinos to maintain the company revenue growth trajectory.
$1.29bn of the revenue came from gaming, while $382m came from food, beverage and hotel.
Jay Snowden, Chief Executive Officer and President, said: “The company experienced stable property level performance this quarter with each month showing sequential improvement. Additionally, we are excited to have successfully re-launched our sportsbook app, which features major product improvements that significantly upgrade the user experience, including streamlined navigation, faster load times, expanded wagering markets, enhanced promotions and deeper media integrations. The migration reflects a significant achievement for our Company that was completed seamlessly and with minimal disruption to our customers. Our state-of-the-art technology platform continues to drive strong results for theScore Bet in Ontario.
“Additionally, as we announced, in connection with our agreement with ESPN, our online Barstool Sportsbook will be rebranded ESPN Bet in Fall 2023. The powerful combination of our operational expertise, improved product, unparalleled market access and industry leading PENN Play database with the #1 sports brands in both the US and Canada with ESPN and theScore, will create a best-in-class user experience and allow us to significantly expand our digital footprint and more efficiently grow our customer database.”
