Penn Entertainment Lauds Q1 as “Another Solid Quarter”

Penn Entertainment has published its financial results for Q1 2026, reporting what CEO Jay Snowden called “another solid quarter.” The company continued to perform favorably, which was reflected in its strong revenues and EBITDA figures.

The Company’s Q1 Metrics Highlighted Its Strength

Penn Entertainment’s Q1 results reveal Q1 revenues of $1.78 billion versus $1.67 billion in the prior year period. However, the company reported net loss of $2.8 million for the period, despite posting net income of $111.5 million in Q1 2025.

Penn Entertainment’s consolidated adjusted EBITDA for the period was $265.8 million, up from $173.3 million in the prior year period.

Penn also reported “encouraging trends” across the company’s Retail division as its revenues reached $1.4 billion. The segment’s adjusted EBITDAR was $471.4 million, with margins of 33.2%.

The company attributed its Retail strength to its West segment improvements and broader increase in visitation, as well as higher spend per visit.

The Interactive segment, on the other hand, reported revenues of $358.3 million. The segment delivered significant adjusted EBITDA improvements, despite posting an adjusted EBITDA loss of $10.8 million. The company’s standalone iCasino achieved record quarterly revenue, making Penn even more optimistic about the upcoming launch of online casino gaming in the Canadian province of Alberta.

Penn Provided an Update on Its Financial Position

Penn Entertainment also updated its financial position, saying that its total liquidity as of March 31, 2026, was $1.7 billion. This included $708 million in cash and cash equivalents.

On March 16, the company issued $600 million of unsecured notes due 2031 at an interest rate of 6.75%. These proceeds helped it repay borrowings under its revolving credit facility.

Penn’s traditional net debt as of March 31 was $2.2 billion. After the end of the quarter, Penn amended its Second Amended and Restated Credit Agreement to refinance and extend the term of its $1.0 billion Amended Revolving Credit Facility and $446.9 million Amended Term Loan A Facility.

Penn noted that this move did not refinance its existing Amended Term Loan B Facility.

Another Solid Quarter on Record

Jay Snowden, Penn’s CEO & president, commented on the company’s Q1 results, saying that he was pleased with the “solid quarter.” Snowden praised the growth across both the Retail and Interactive segments and said that the performance of the company in Ontario is making his team excited about the launch of online sports betting and gaming in Alberta.

Importantly, we are executing on the plan we outlined last quarter, driving Retail and Interactive growth, optimizing corporate overhead, making disciplined capital investments, and continuing to delever.

Jay Snowden, CEO & president, Penn Entertainment

Penn Entertainment was recently highlighted as one of the stronger regional operators in America in a Truist Securities report.