{"id":8734,"date":"2025-02-28T06:35:04","date_gmt":"2025-02-28T06:35:04","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2025\/02\/28\/penn-entertainment-reports-revenue-growth-but-faces-net-loss-in-2024\/"},"modified":"2025-02-28T06:35:04","modified_gmt":"2025-02-28T06:35:04","slug":"penn-entertainment-reports-revenue-growth-but-faces-net-loss-in-2024","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2025\/02\/28\/penn-entertainment-reports-revenue-growth-but-faces-net-loss-in-2024\/","title":{"rendered":"Penn Entertainment Reports Revenue Growth but Faces Net Loss in 2024"},"content":{"rendered":"<div>\n<p>The financial results of Penn Entertainment\u2019s fourth quarter and full year of 2024 were released, showing both notable net losses and consistent revenue growth.<\/p>\n<p>With nearly $1.66 billion in revenue for the fourth quarter and $6.57 billion for the year, Penn Entertainment had a 3% rise in revenue over the prior year. The business did, however, declare a net loss of $313 million for the entire year and $133 million for the fourth quarter.<\/p>\n<p>With a margin of 33.1%, adjusted EBITDA for the year was $461.2 million. CEO Jay Snowden called the company\u2019s performance \u201csolid\u201d in spite of these numbers, pointing to notable improvements in a few areas.<\/p>\n<p data-start=\"80\" data-end=\"253\">\u201c<em>Penn\u2019s fourth quarter property-level operating results reflect solid performance, as properties not impacted by new supply generated nearly 3% year-over-year revenue growth,<\/em>\u201d Snowden stated.<\/p>\n<p data-start=\"967\" data-end=\"1332\">He also emphasized improvements in the Interactive segment, noting that <em>\u201cdespite 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.\u201d<\/em><\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/mirax-casino\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow\"><br \/>\n\t\t<amp-img alt=\"Mirax Casino\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/01\/Mirax-Casino.png.webp\" width=\"50\" height=\"50\" layout=\"fixed\"><br \/>\n\t\t<\/amp-img><br \/>\n\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative py-10\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/mirax-casino\/\" title=\"Mirax Casino\" target=\"_blank\" rel=\"nofollow\">Mirax Casino<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong>350% or 5BTC + <strong>150 Spins!<\/strong><\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. Exclusive Welcome Bonus of 350% + 150 Free Spins\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/igaming.org\/site\/mirax-casino\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<h2 data-start=\"1334\" data-end=\"1380\"><strong data-start=\"1338\" data-end=\"1378\">Strategic Focus on Digital Expansion<\/strong><\/h2>\n<p data-start=\"1382\" data-end=\"1617\">Looking ahead, Penn Entertainment remains focused on enhancing its digital offerings. Snowden highlighted the company\u2019s online casino momentum, fueled by the launch of the standalone Hollywood Casino app in Pennsylvania and Michigan.<\/p>\n<p data-start=\"1619\" data-end=\"1827\">He outlined upcoming initiatives, including live streaming on the<a href=\"https:\/\/igaming.org\/casino-news\/penn-entertainment-partners-with-mse-to-launch-espn-bet-in-d-c\/\"> ESPN BET app<\/a> and Men\u2019s NCAA Tournament Challenge integrations with ESPN. The company also plans further expansions of its iCasino platforms.<\/p>\n<p data-start=\"1829\" data-end=\"2090\">Excited about the future, Snowden concluded,<em> \u201cWe are excited by the opportunities that lie in front of us in 2025 and into 2026 in all aspects of our business and are announcing this morning our intent to repurchase at least $350 million of shares this year.\u201d<\/em><\/p>\n<p>The post <a href=\"https:\/\/igaming.org\/casino-news\/penn-entertainment-reports-revenue-growth-but-faces-net-loss-in-2024\/\">Penn Entertainment Reports Revenue Growth but Faces Net Loss in 2024<\/a> appeared first on <a href=\"https:\/\/igaming.org\/\">iGaming.org<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The financial results of Penn Entertainment\u2019s fourth quarter and full year of 2024 were released, showing both notable net losses and consistent revenue growth. With nearly $1.66 billion in revenue for the fourth quarter and $6.57 billion for the year, Penn Entertainment had a 3% rise in revenue over the prior year. The business did, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-8734","post","type-post","status-publish","format-standard","hentry"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/8734","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/comments?post=8734"}],"version-history":[{"count":0,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/8734\/revisions"}],"wp:attachment":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/media?parent=8734"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/categories?post=8734"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/tags?post=8734"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}