PENN Entertainment Returns to Profit in Third Quarter

PENN Entertainment returned to profit in the third quarter, posting net profit of $32.6 million after a loss of $865.1 million in the same period last year. The company said strong performance in Canadian sports betting and good results from online casino revenue were decisive in this turnaround.

Third-quarter revenue rose 7.1% to $1.84 billion. Consolidated adjusted EBITDA increased 45.7% to $284 million. Impairment charges fell from $825 million to $8 million.

The Interactive segment covers online sports betting, iGaming and social gaming operations. Revenue in this segment rose 17% to $348.4 million. Adjusted EBITDA loss narrowed from $76.6 million to $18.3 million.

Retail operations generated revenue of about $1.5 billion. The segment's adjusted EBITDAR was $501.8 million, with a margin of 33.7%. Revenue in the Northeast region was $708.3 million, while revenue in the Midwest rose 14.6% to $341.9 million. Revenue in the South was almost unchanged at $291.8 million, and revenue in the West rose to $147.5 million.

For the first nine months of 2026, the company's revenue reached $5.48 billion, up 6.2%. Over the same period, consolidated adjusted EBITDA rose from $604.3 million to $862.4 million. Net profit was $62.4 million, compared with a loss of $771.9 million last year.