Our strong operating performance and balance sheet enabled us to opportunistically repurchase $167.0 million of stock in the quarter under our $750.0 million share repurchase authorization. In addition, last month, we successfully transitioned theScore Bet in Ontario to our own fully-integrated, proprietary tech stack – reflecting a key achievement in our strategic roadmap. Despite economic headwinds, we delivered consistent performance across our retail portfolio in the quarter and into July. PENN generated revenues of $1.6 billion and Adjusted EBITDAR of $504.5 million. Snowden further commented: “We are pleased with our second quarter results. Our new name maintains ties to our legacy while better reflecting our evolution into North America’s leading provider of integrated entertainment, sports content and casino gaming experiences.” Over the past few years, PENN has transformed our business through a highly differentiated strategy focused on organic cross-sell opportunities, which is reinforced by our investments in market-leading retail casinos, sports media assets, owned technology, including a state-of-the-art, fully integrated digital sports and online casino betting platform, and an in-house iCasino content studio. Jay Snowden, Chief Executive Officer and President, announced: “Today is an exciting day for us as we become PENN Entertainment, Inc.

Adjusted EBITDAR margins of 31.0%, a decline of 694bps year-over-year.įor further information, the Company has posted a presentation to its website regarding the second quarter highlights and accomplishments, which can be found here.

Adjusted EBITDA of $476.5 million, an increase of 1.4% year-over-year and.

Adjusted EBITDAR of $504.5 million, a decrease of 14.0% year-over-year.

Net income of $26.1 million and net income margin of 1.6%, as compared to net income of $198.7 million and net income margin of 12.9% in the prior year.

Revenues of $1.6 billion, an increase of 5.2% year-over-year.

Repurchased $167.0 million of Common Stock at an Average Price of $30.16 Under Share Repurchase Authorization.

Reiterating 2022 Full Year Revenue and Adjusted EBITDAR Guidance.

Successful Migration to Our Proprietary Tech Stack in Ontario.

Database Growth Highlights the Value of Omni-Channel Strategy.

(“PENN” or the “Company”) (Nasdaq: PENN) today reported financial results for the three and six months ended June 30, 2022.

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