PENN Entertainment has reported positive financial results for the three and six months ended June 30.
Jay Snowden, CEO and president, said: “Our retail properties delivered solid results this quarter as our best-in-class team of operators continues to execute across our diverse portfolio of market leading assets.
"In our Interactive segment, top-of-funnel growth, improved risk and trading execution and refined promotional strategies contributed to better-than-expected revenue and aAdjusted EBITDA results.
Revenues were $1.4bn and adjusted EBITDAR was $496.6m, with margins of 34.8 per cent.
“Our retail business remained stable as consistent consumer trends, our diverse portfolio and recent capital investments offset known, new supply in certain markets,” added Snowden.
“We remain focused on database growth and driving engagement through new technology, continued investment in our gaming and non-gaming offerings and local and national partnerships related to our food and beverage offerings.
"Cross-sell opportunities from our ESPN BET customers remain a key growth driver for us, as our PENN Play database has grown to approximately 31 million members, including 3.8 million in our digital database, which is an increase of more than 80 per cent since the launch of ESPN BET.
"We are also making solid progress on our four development projects, all of which remain on budget and on schedule."
