Penn National Gaming, now rebranded as Penn Entertainment, has released its financial results for the three and six months ended June 30th, 2022.
Penn National Q2 Revenues Up by 5% as Company Rebrands to Penn EntertainmentAdjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) came to $476.5 million (€465.9 million), up by 1.4%. Meanwhile, adjusted EBITDAR (Earnings Before Interest, Taxes, Depreciation, Amortization, and Rent) dropped by 14% to $504.5 million (€493.3 million)
Speaking of the latest results, Penn President and CEO Jay Snowden said:
Penn National Q2 Revenues Up by 5% as Company Rebrands to Penn Entertainment Penn National Q2 Revenues Up by 5% as Company Rebrands to Penn Entertainment“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 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.
“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.”
“In July, we successfully deployed our proprietary in-house risk and trading platform in Ontario, which significantly enhances theScore Bet’s online betting capabilities, mobile product offerings and overall integrated media and betting ecosystem.”
An experienced iGaming commentator and analyst based in New York City - Jenny reports on regulation and gambling industry news and events.