PENN Entertainment
PENN Entertainment is a diversified gaming and entertainment company that operates 43 properties across 20 states under 12 brands, including Hollywood Casino and Ameristar. The company's roots trace back to the opening of a racetrack in Pennsylvania in 1972. In 2023, land-based casinos accounted for 89% of its total sales, while the interactive segment, which includes sports betting, iGaming, and media revenue, contributed 11%. The retail gaming portfolio boasts mid-30s EBITDAR margins, which enhance PENN's ability to secure licenses for digital wagering markets. Additionally, its media assets, including theScore and a partnership with ESPN launched in November 2023, provide critical access to sports betting and iGaming technology, further expanding its customer base and market presence.
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