PENN Entertainment Inc (NASDAQ:PENN) reported fourth-quarter financial results before the market open on Thursday. Here’s a look at the key details from the quarter.
Property level revenue totaled $1.4 billion and interactive segment revenue came in at $275 million in the fourth quarter. The company said it ended the quarter with $706.6 million in cash and cash equivalents and $1.7 billion in total liquidity.
“PENN’s fourth quarter property-level operating results reflect solid performance, as properties not impacted by new supply generated nearly 3% year-over-year revenue growth,” said Jay Snowden, president and CEO of Penn Entertainment.
“Despite well-known, customer friendly sports betting outcomes during the quarter, our Interactive segment delivered significant year-over-year improvements in revenue and Adjusted EBITDA driven by our disciplined promotional strategies and accelerated growth in our online Casino business.”
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Penn announced that it plans to repurchase at least $350 million of its common stock in 2025.
The company noted that its four retail growth projects remain on budget and on track, with the new Hollywood Casino in Joliet expected to open in the fourth quarter of 2025.
PENN Price Action: Penn Entertainment shares were up 1.62% at $20.74 at the time of publication Thursday, according to Benzinga Pro.
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