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Operates regional casinos across the US and the theScore Bet online sportsbook (formerly ESPN Bet).
Operates regional casinos across the US and the theScore Bet online sportsbook (formerly ESPN Bet).
Casinos carry the business: gaming revenue from slot machines and tables across regional properties, plus hotel and dining. Its online sportsbook has changed brand twice: Barstool Sports in 2023 gave way to ESPN Bet, which became theScore Bet in December 2025 after the ESPN licence deal ended.
Moat: narrow (regulatory licence, scale, brand). Regional casino licences, scale and loyalty programme; the online betting arm is a smaller challenger to market leaders.
Headquarters: Wyomissing, Pennsylvania, US · Founded: 1982 · Employees: 23,441
Size PENN Entertainment (PENN) is a United States Consumer Discretionary company (Casinos/Gaming) with a market value of $2.34B, the 1700th largest of 3,117 United States companies the cockpit tracks. Shares closed at $17.43 on 6 Nov 2026.
Performance Over six months the shares gained 4.1%, against -11.0% for the median peer and -1.1% for the United States market (cap-weighted) — 5th highest of 21 in its peer set.
Growth Revenue grew 6.1% over the last twelve months (peer median +3.0%); the operating margin is 6.0% (peer median 16.8%).
Valuation It trades at 12.3× forward earnings against a peer median of 11.0× (7th most expensive of 18).
Price implies For today's price to make sense, revenue must grow about 15% a year for seven years (Req g). Recent delivered growth is +14%, so the hurdle is +1 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 3.7 points below its cost of capital (6.5% WACC).
Credit PENN Entertainment has 1 bond outstanding ($400M), rated B by the agencies.
Short interest Short interest is 13.1% of the free float (15 Oct 2026).
Next results Next results expected around 4 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $7.16B | $6.96B | $6.58B | $6.36B | $6.40B |
| Revenue growth | — | +6% | +3% | -1% | — |
| Gross profit | $2.05B | $1.91B | $1.73B | $1.94B | $2.20B |
| EBITDA | $895M | $719M | $598M | $809M | $1.75B |
| Net income | -$907M | -$843M | -$312M | -$490M | $222M |
| Free cash flow | $96.1M | -$140M | -$127M | $95.9M | $615M |
| Capital expenditure | $593M | $685M | $541M | $382M | $272M |
| Total debt | $11.1B | $11.3B | $11.2B | $11.5B | $12.9B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| PENN Entertainment PENN | $2.34B | +4% | +6% | 6% | 12.3× | 15.2% |
| Boyd Gaming BYD | $5.41B | -11% | 0% | 19% | 10.1× | n/a |
| Caesars Entertainment CZR | $5.96B | +4% | +3% | 17% | n/a | 5.8% |
| DraftKings DKNG | $9.19B | -27% | +15% | -3% | 55.1× | 9.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | PENN | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +10.6% | +2.9% | 4th highest of 21 |
| 6-month return | +4.1% | -11.0% | 5th highest of 21 |
| Distance from 52-week high | -22.1% | -35.5% | 7th highest of 21 |
| Revenue growth (TTM) | +6.1% | +3.0% | 9th highest of 21 |
| Operating margin | 6.0% | 16.8% | 5th lowest of 21 |
| Forward P/E | 12.3× | 11.0× | 7th most expensive of 18 |
| Growth the price implies (Req g, 7 yrs) | 15.2% | -1.9% | 2nd most demanding of 15 |
| Growth delivered (Del g) | +14.2% | +26.3% | 4th lowest of 15 |
| Hurdle (Req g minus delivered) | +1.0 pp | -22.2 pp | most demanding of 15 |
| ROIC minus cost of capital | -3.7 pp | +5.3 pp | 4th lowest of 21 |
| EV / EBITDA | 13.9× | 7.8× | 3rd most expensive of 19 |
| Net debt / EBITDA | 11.3× | 3.1× | 3rd most indebted of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| PENN Entertainment PENN | United States | $2.34B | +4% | +6% | 6% | 12.3× | 15.2% | +14.2% |
| Kangwonland 035250.KS | South Korea | $2.13B | -16% | +2% | 15% | 11.0× | n/a | n/a |
| Rush Street Interactive RSI | United States | $2.83B | -56% | +39% | 11% | 16.9× | 13.5% | +32.4% |
| Wynn Macau 1128.HK | Hong Kong | $2.99B | -24% | +9% | 29% | 8.7× | -2.4% | +31.1% |
| Brightstar Lottery BRSL | United States | $1.82B | -24% | +1% | 25% | 15.2× | n/a | n/a |
| Entain ENT.L | United Kingdom | $4.05B | -11% | 0% | 11% | 8.9× | 3.2% | +8.1% |
| Betsson BETS-B.ST | Sweden | $1.34B | +10% | 0% | 14% | 10.4× | -18.0% | +15.7% |
| FDJ United FDJU.PA | France | $4.49B | -5% | +3% | 15% | 10.6× | -2.8% | +13.9% |
| MGM China 2282.HK | Hong Kong | $4.85B | -12% | +11% | 31% | 9.3× | -3.1% | +48.5% |
| Boyd Gaming BYD | United States | $5.41B | -11% | 0% | 19% | 10.1× | n/a | n/a |
| Super Group (SGHC) SGHC | United States | $5.77B | -13% | +14% | 23% | 11.7× | -0.2% | +16.6% |
| Caesars Entertainment CZR | United States | $5.96B | +4% | +3% | 17% | n/a | 5.8% | +25.9% |
| Light & Wonder, Inc. Shs Chess Depository Interests Repr 1 Sh LNW.AX | Australia | $6.22B | +1% | 0% | 27% | 9.4× | -8.5% | +15.8% |
| Tokyotokeiba 9672.T | Japan | $868M | -11% | +3% | 37% | 11.7× | -10.8% | +7.7% |
| Lottomatica LTMC.MI | Italy | $7.17B | +4% | +4% | 21% | 15.4× | -1.4% | +42.7% |
| GENDA 9166.T | Japan | $754M | +20% | +47% | 3% | 16.4× | n/a | n/a |
| Star Entertainment SGR.AX | Australia | $724M | +48% | -9% | -30% | n/a | n/a | n/a |
| Melco International Development 0200.HK | Hong Kong | $695M | -42% | +7% | 21% | 5.9× | -4.9% | +26.6% |
| MGM Resorts MGM | United States | $8.18B | -17% | +3% | 6% | 24.0× | 16.0% | +27.7% |
| Wynn Resorts WYNN | United States | $8.56B | -19% | +6% | 16% | 20.8× | 1.7% | +27.8% |
| Bally's BALY | United States | $625M | -4% | +20% | 0% | n/a | n/a | n/a |
PENN Entertainment has 1 bond outstanding with $400M face value. The agencies rate it B.