About Penn Entertainment
Penn Entertainment Inc. is an American gaming and entertainment company listed on a US stock exchange. Its business spans retail casino gaming, food and beverage, hotel operations, and a digital interactive division covering online sports betting and iGaming. The group also owns Score Media and Gaming, a Canadian digital sports media company.
Penn Entertainment was formerly known as Penn National Gaming, founded more than half a century ago around horse racing operations in Pennsylvania, before decades of acquisitions built a diversified land-based casino estate. The company changed its name in August 2022 to reflect its push into sports content. That pivot accelerated with the 2021 acquisition of Score Media and Gaming for $2 billion, which brought theScore media app and a Canadian sportsbook into the group. A ten-year, $2 billion ESPN licensing deal followed in 2023, rebranding the online sportsbook as ESPN Bet, though that partnership was terminated early, with theScore Bet replacing it across 21 US states as of December 2025. The digital transition has been costly: Penn acquired Barstool Sports outright for $388 million in early 2023, sold it back to its founder for $1 later that year, and the interactive segment continued to run at an adjusted EBITDA loss through 2024 while the retail casino estate remained the group’s primary revenue engine.
On the land-based side, the group operates under a range of regional casino brands across its US property estate. In the digital segment, theScore Bet (an online sportsbook brand) operates alongside theScore media. The group’s Hollywood Casino brand serves as the primary retail identity across most of its land-based properties, complemented by regional names such as Ameristar (a land-based casino resort chain), L’Auberge (a Gulf Coast luxury casino resort brand), and Tropicana Las Vegas (a historic Strip land-based casino property).
| Category | Details |
|---|---|
| Founded | 1972 |
| Headquarters | Wyomissing, Pennsylvania, USA |
| CEO / Key Executive | Jay Snowden |
| Listed | Nasdaq: PENN |
| Key Markets | United States (20 states), Canada (Ontario) |
| Employees | ~23,000 (2024) |
| Annual Revenue | $6,58bn (FY2024) |
Market Position & Regulatory Footprint
Penn Entertainment holds gaming licences across Arizona, Colorado, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, Missouri, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, Washington D.C., and West Virginia through its retail property network, with additional interactive licences for online sports betting in 21 jurisdictions and iGaming in five states following the transition from ESPN Bet to theScore Bet. The group’s PENN Play loyalty programme has grown to more than 32 million members, a scale that distinguishes it from most US digital-only sports betting operators and provides a structural advantage in omnichannel customer conversion. Retail operations generated sector-leading tax-adjusted EBITDAR margins through 2024, providing the financial foundation for ongoing digital investment.
For B2B suppliers, platform vendors, and payment providers assessing Penn Entertainment as a commercial counterparty, the group’s scale in land-based operations is the dominant consideration. Its interactive segment is at an early stage of profitability compared with its retail business, with the move to theScore Bet in the US marking a strategic reset following the ESPN partnership. Ontario remains Penn’s strongest digital market, described by Snowden as its “Number one market in North America in terms of revenues, gross profit and contribution margin,” suggesting the group’s digital model is most mature in Canada. Suppliers engaging with Penn should note the distinction between its well-established retail procurement infrastructure and its still-evolving digital technology stack, which is being rebuilt following the exit of the ESPN arrangement.
