PENN Entertainment, Inc.

PENN Entertainment, Inc. operates casinos, racetracks, and online sports betting and iCasino offerings across 28 jurisdictions in North America. The company focuses on cross-selling opportunities, supported by its retail casinos, sports media assets, and a proprietary, integrated digital sports betting and iCasino platform, along with an in-house iCasino content studio. PENN's customer loyalty program, PENN Play TM, has over 33 million members. On November 6, 2025, PENN announced the early termination of its U.S. sportsbook agreement with ESPN, Inc. and ESPN Enterprises Inc., effective December 1, 2025. Following this, the company shifted its digital focus to its U.S. iCasino and Canadian operations and rebranded its U.S. online sports betting offering to theScore Bet. This rebranding aims to leverage theScore media app and the PENN Play loyalty program to drive cross-sell opportunities between retail and digital platforms. PENN has five reportable segments: Northeast, South, West, Midwest, and Interactive. The Northeast, South, West, and Midwest segments, referred to as retail segments, primarily earn revenue from gaming operations, food and beverage, and hotel stays. The Interactive segment includes all online sports betting, online casino/iCasino, and social gaming operations, retail sports betting management, media, and the operating results of Barstool Sports, Inc. from its acquisition on February 17, 2023, until its divestiture on August 8, 2023. Gaming and racing properties are grouped geographically, with each property considered an operating segment, except for the two properties in Jackpot, Nevada, which are viewed as one operating segment.