Penn Entertainment reported a return to profitability in the second quarter of 2026, posting a net income of $32.6 million. This marks a significant turnaround from the losses recorded during the same period last year.
The company has shown ongoing recovery, having limited its losses to $2.8 million in the first quarter of this year before bouncing back to profitability in Q2.
For the last quarter, revenue climbed by 5% year-over-year to reach $1.86 billion, while adjusted EBITDA surged by 32%, totaling $312.6 million, compared to $236.1 million in the first quarter of 2025.
CEO Jay Snowden emphasized that Penn is dedicated to executing strategies aimed at enhancing cash flow, reducing administrative expenditures, improving segment profitability, and fortifying the balance sheet.
Penn reported EBITDA growth across all its operating segments, which include the Northeast, South, Midwest, and West regions of the United States. Although the South segment saw a slight decline in revenue, the overall profitability of the business improved.
The Interactive segment remains unprofitable but reported a substantial reduction in losses during the recent quarter, with adjusted EBITDA losses of $9.5 million, down from $62 million in the first quarter of 2025.
In response to the conclusion of its ESPN Bet branding partnership in 2025, Penn has been realigning its online strategy. The focus has shifted towards the Canadian market and the expanding U.S. iCasino sector.
