Penn Entertainment on Thursday reported revenue of $1.4 billion for the fourth quarter.
Adjusted EBITDAR was $456.4 million; and segment Adjusted EBITDAR margins were 32.3%.
Penn CEO Jay Snowden, in statement, said Penn’s diversified retail portfolio delivered a “solid quarter.”
“We are excited about the year ahead as we expect to generate year-over-year segment Adjusted EBITDAR growth of 20% in 2026,” Snowden said. “Our retail Adjusted EBITDAR is poised for a year of growth as we aim to build upon our recent openings in Joliet (Illinois) and in Las Vegas, deliver two additional retail growth projects by the end of the second quarter1, and anniversary new supply in several of our markets.”
Snowden said that, going forward, Penn’s new corporate organizational structure, which included the resignations of Executive Vice President, Operations Todd George and Senior Vice President, Chief Information Officer Rich Primus, would result in “$10 million in annualized run-rate cost savings in corporate overhead, which will mostly phase in over the first half of the year.”
Snowden also attributed negatively affected Segment Adjusted EBITDAR of $7 million to “weather events.”
“Core business trends were otherwise stable across the portfolio, with regional strength in Ohio and St. Louis, as well as at our L’Auberge Lake Charles property,” Snowden stated. “We experienced another quarter of year-over-year growth in theoretical revenue across all rated worth and age segments with our older demographics and VIP play contributing meaningfully to these results.”
Penn Entertainment Wednesday closed at $12.60 on the Nasdaq on Wednesday, with stock being neutral at $0.00 or 0.0%.
