PENN Entertainment Investor Relations Material - Quartr As I think about the future of Penn National, I am immensely excited about our growth trajectory as we continue to execute on our omni-channel and media strategy and realize the benefits of several noteworthy accomplishments, continued Mr. Snowden. Golden Entertainment | Investor Relations Consists of the operating lease components contained within our triple net master lease dated November 1, 2013 with Gaming and Leisure Properties, Inc. (Nasdaq: GLPI) ("GLPI") and the triple net master lease assumed in connection with our acquisition of Pinnacle Entertainment, Inc. (individually referred to as the PENN Master Lease and Pinnacle Master Lease, respectively, and are collectively referred to as our Master Leases), as well as our individual triple net leases with GLPI for the real estate assets used in the operation of Tropicana Las Vegas Hotel and Casino, Inc. (terminated on September 26, 2022) and Hollywood Casino at The Meadows, and our individual triple net leases with VICI Properties Inc. (NYSE: VICI) (VICI) for the real estate assets used in the operations of Margaritaville Resort Casino and Hollywood Casino at Greektown (referred to collectively as our triple net operating leases). View source version on businesswire.com: https://www.businesswire.com/news/home/20221103005561/en/, Felicia HendrixChief Financial Officer Meanwhile our support for our nations heroes continues. Read or listen to the conference call. Highlights Recent News July 17, 2023 PENN Entertainment to Report Second Quarter Results and Host Conference Call and Webcast on August 9 July 14, 2023 In addition, Adjusted EBITDAR of the Interactive segment includes our proportionate share of the net income or loss of Barstool Sports, Inc. after adding back our share of non-operating items (such as interest expense, net; income taxes; depreciation and amortization; and stock-based compensation expense). Expenses incurred for corporate and shared services activities that are directly attributable to a property or are otherwise incurred to support a property are allocated to each property. PRESENTATIONS | PENN Entertainment Penn Nationals commitment to fund STEM scholarships is an extension of our companys established partnerships with 33 HBCUs across the country, continued Mr. Snowden. Investor Relations. This press release, which includes financial information to be discussed by management during the conference call and disclosure and reconciliation of non-GAAP financial measures, is available on the Companys web site, www.pennentertainment.com, in the Investors section (select link for Press Releases). On January 1, 2022, the Company adopted ASU 2020-06, which resulted in a net $71.7 million reclassification of the equity component originally recognized as a debt discount under the previously bifurcated cash conversion feature of the 2.75% convertible senior notes due May 2026. Consists of the operating lease components contained within our triple net master lease dated November 1, 2013 with Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) ("GLPI") and the triple net master lease assumed in connection with our acquisition of Pinnacle Entertainment, Inc.(individually referred to as the Penn Master Lease and Pinnacle Master Lease, respectively, and are collectively referred to as our Master Leases), which is primarily land, our individual triple net leases with GLPI for the real estate assets used in the operation of Tropicana Las Vegas Hotel and Casino, Inc. and Hollywood Casino at Meadows Racetrack, and our individual triple net leases with VICI Properties Inc. (NYSE: VICI) ("VICI") for the real estate assets used in the operations of Margaritaville Casino Resort and Greektown Casino-Hotel (referred to collectively as our triple net operating leases). In February 2020, Penn National entered into a strategic partnership with Barstool Sports, whereby Barstool is exclusively promoting the Companys land-based and online casinos and sports betting products, including the Barstool Sportsbook mobile app, to its national audience. Primarily represents the elimination of intersegment revenues associated with our internally-branded retail sportsbooks, which are operated by Penn Interactive. Instruction Letter to Former Holders of Shares of Score Media and Gaming Inc. who were . Penn Interactive is the leading operator of retail sportsbooks in West Virginia, Indiana, Iowa, Michigan, Colorado, and Louisiana, and we believe we are similarly well positioned for success in Ohio, where we operate a portfolio of market leading properties, providing a significant competitive advantage for both our retail and interactive operations, said Mr. Snowden. 6, 2023-- Caesars Entertainment Inc. (NASDAQ: CZR) ("Caesars") today announced that its Caesars. Penn National Gaming Set to Open Hollywood Casino - PENN Entertainment The Company does not provide a reconciliation of projected Adjusted EBITDA and Adjusted EBITDAR because it is unable to predict with reasonable accuracy the value of certain adjustments that may significantly impact the Companys results, including adjustments that can be impacted by rent expense and interest expense associated with our triple net leases, re-measurement of cash-settled stock-based awards, and income tax benefit (expense), which are dependent on future events that are out of the Companys control or that may not be reasonably predicted. Consists principally of interest expense, net; income taxes; depreciation and amortization; and stock-based compensation expense associated with Barstool Sports, Inc. and our Kansas Entertainment, LLC joint venture. For free confidential help, call the National Problem Gambling Helpline at 1-800-GAMBLER. The finance lease components contained within our Master Leases (primarily buildings), the Perryville Lease determined to be a finance lease, and the financing obligation associated with the Morgantown Lease result in interest expense or interest expense and depreciation expense (as opposed to rent expense) in accordance with Accounting Standards Codification Topic 842, Leases.. We're making some changes at PENN Entertainment. Our lease adjusted net leverage as of December 31, 2021 was at a record low of 4.1x compared to 7.0x as of December 31, 2020 and 5.5x as of December 31, 2019. Looking ahead, our differentiated sports betting strategy, along with the integration of the Barstool Sportsbook into theScore media app in the U.S. and continued improvements within our iCasino offerings will enable us to generate meaningful EBITDA in 2023 within the Interactive segment especially as we transition to our wholly owned tech stack, said Mr. Snowden. (in millions, except per share data, unaudited), Rent expense associated with triple net operating leases (2), Payments to our REIT Landlords under Triple Net Leases, inclusive of rent credits utilized (3). Press Releases. Take the time to learn more about our environmental, social and governance (ESG) efforts. Mr. Snowden continued, Regarding Penn Nationals ongoing ESG initiatives, during the fourth quarter, we proudly launched a new Science, Technology, Engineering and Mathematics (STEM) Scholarship Program in partnership with Historically Black Colleges and Universities (HBCUs) in states in which we operate. The table below summarizes certain cash expenditures incurred by the Company. Investors in PENN Entertainment Inc (Symbol: PENN) saw new options become . PRESENTATIONS. In October 2021, Penn Entertainment acquired theScore in a deal that brings together two industry leaders to create North America's leading digital sports media, gaming and technology company. Our omnichannel strategy continues to drive growth across the Company, commented Mr. Snowden. Adjusted EBITDA has economic substance because it is used by management as a performance measure to analyze the performance of our business, and is especially relevant in evaluating large, long-lived casino-hotel projects because it provides a perspective on the current effects of operating decisions separated from the substantial non-operational depreciation charges and financing costs of such projects. The program reflects our confidence in our long-term prospects and enables us to make both opportunistic share repurchases and offset dilution from stock-based compensation and other equity grants. Most recently, on October 21st, we celebrated the opening of the newest Barstool Sportsbook at LAuberge Baton Rouge in Louisiana where we were joined by key Barstool talent, including Dave Portnoy and Dan Big Cat Katz. PENN Entertainment Third Quarter 2022 Investor Presentation, November 3, 2022 . Chief Financial Officer We have the ability to access attractive financing from Gaming and Leisure Properties, Inc. (GLPI) (Nasdaq: GLPI) covering up to $575 million of the anticipated costs in addition to up to $50 million from the City of Aurora, which allows us the opportunity to pursue these high growth projects while preserving our cash position and leverage profile. Must be 21+ to wager. Such statements are all subject to risks, uncertainties and changes in circumstances that could significantly affect the Companys future financial results and business. In connection with these projects, we have entered into an agreement with GLPI to create a new master lease, with a fixed 1.5% escalator, that would include the two new facilities in Aurora and Joliet, in addition to Hollywood Columbus (OH), Hollywood Toledo (OH), the M Resort (NV), the Meadows (PA) and Hollywood Perryville (MD). Our iCasino product received a number of upgrades during the fourth quarter, including the introduction of our first in-house developed games, continued Mr. Snowden. In November, the Company launched live sports betting at temporary locations in its five Louisiana properties while it builds out its market leading Barstool sportsbook concept at its signature properties in Lake Charles, Baton Rouge and Bossier City. Each of these non-GAAP financial measures is not calculated in the same manner by all companies and, accordingly, may not be an appropriate measure of comparing performance among different companies. There are 793 funds or institutions reporting positions in PENN Entertainment. Investor Relations ; Get Help ; Help Center ; Advertising Opportunities ; Feedback ; The Midwest segment consists of the following properties: Ameristar Council Bluffs, Argosy Casino Alton, Argosy Casino Riverside, Hollywood Casino Aurora, Hollywood Casino Joliet, our 50% investment in Kansas Entertainment, LLC, which owns Hollywood Casinoat Kansas Speedway, Hollywood Casino St. Louis, Prairie State Gaming, and River City Casino. Our Interactive segment experienced strong year-over-year revenue and user growth in the quarter and was profitable in October. Our disciplined marketing approach and increased scale at Penn Interactive set us apart from the competition as we generated a lower-than-expected EBITDA loss in our Interactive segment in the fourth quarter despite launching sports betting operations in two new states (Iowa and West Virginia), iCasino in West Virginia and integrating theScore, continued Mr. Snowden. Last year we reduced annual Kwh consumption at our properties by 10%, equaling 42,000 tons of greenhouse gas elimination. Weve helped provide support for disaster relief and weve taken the initiative to focus on sustainability at many of our destinations, with a plan to expand to the rest. Get the latest insider transactions for PENN Entertainment, Inc. (PENN). Barstool Sportsbook and Casino Continued Momentum and Future Growth. However, Adjusted EBITDA is not a measure of performance or liquidity calculated in accordance with GAAP. We are also seeing continued iCasino momentum as we introduce additional content from third parties as well as from Penn Games Studios, which developed its first in-house multi-line slot game set to launch next month. Who are PENN Entertainment's auditors? Investor Inquiries. Not a member? Written by BNK Invest for BNK Invest ->. Adjusted EBITDA is inclusive of rent expense associated with our triple net operating leases (the operating lease components contained within our triple net master lease dated November 1, 2013 with Gaming and Leisure Properties, Inc. (GLPI) and the triple net master lease assumed in connection with our acquisition of Pinnacle Entertainment, Inc. (primarily land), our individual triple net leases with GLPI for the real estate assets used in the Operation of Tropicana Las Vegas Hotel and Casino, Inc. and Hollywood Casino at Meadows Racetrack, and our individual triple net leases with VICI Properties Inc. (VICI) for the real estate assets used in the operations of Margaritaville Casino Resort and Greektown Casino-Hotel). During the first quarter of 2021, acquisition costs were included within pre-opening and acquisition costs. Meanwhile, Barstool Sports, Inc. continues to drive strong revenue growth across all categories, including new verticals such as the One Bite frozen pizza and Would line of mens grooming products. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Eligible Puerto Rico residents can now visit Casino Metro to verify their mobile sports wagering account and bet on sports anywhere in the Commonwealth SAN JUAN, Puerto Rico -- (BUSINESS WIRE)--Jul. The Midwest segment consists of the following properties: Ameristar Council Bluffs; Argosy Casino Alton; Argosy Casino Riverside; Hollywood Casino Aurora; Hollywood Casino Joliet; our 50% investment in Kansas Entertainment, which owns Hollywood Casinoat Kansas Speedway; Hollywood Casino St. Louis; Prairie State Gaming; and River City Casino. Investors Invest in the future of gaming Listen to Q1 webcast Download Q1 earnings release Download Q1 presentation PENN NASDAQ $26.22 -0.865 (-3.19)% Data as of July 14, 2023 01:31 PM Recent press releases July 14, 2023 PENN Entertainment Completes Migration of Barstool Sportsbook & Casino to Proprietary Technology Platform July 11, 2023 With the launch of online sports betting in Louisiana on January 28, Penn National now operates sports betting in 12 states and iCasino in four and looks forward to gaining additional scale in 2022 with anticipated launches in Ontario, Ohio and Maryland. We expect this market will be a sizable opportunity for us given the strong brand awareness and audience reach of theScore and Barstool Sports. Consists of non-recurring acquisition and transaction costs, and finance transformation costs associated with the implementation of our new Enterprise Resource Management system. PENN Entertainment, Inc. (PENN) Recent Insider Transactions - Yahoo Finance Our strong retail results were highlighted by ongoing database growth and stable margin performance, which continued through October. Retail Operations Deliver Strong Results Through Sustainable Margin Improvement, Technology Upgrades and Growing Database, Interactive Segment Exceeded Expectations, Board of Directors Authorizes $750 Million Share Repurchase Program, Company Initiates 2022 Full Year Guidance. Investor Inquiries. Get the latest updated list of insiders for PENN Entertainment, Inc. (PENN). "TheScore grew year-over-year engagement this quarter and bolstered its sports media content offering with the addition of NFL Insider Jordan Schultz. Find out the total of insider shares held, purchased and sold. These results were also achieved despite a frenzied competitive environment. We see opportunities to further increase the value of our media business in 2022, including cross-promotion and collaboration between theScore and Barstool Sports as well as promoting theScore Bet app to our 25 million mychoice members, said Mr. Snowden. The Interactive segment, which was previously reported within Other, includes the operating results of theScore, Penn Interactive, and the Companys proportionate share of earnings attributable to its equity method investment in Barstool Sports, Inc. Corporate expense will continue to be reported in Other in addition to stand-alone racing operations, other joint ventures, management contracts, and the Heartland Poker Tour. We also recognize the sacrifices of our active-duty military, veterans and first responders by offering them special discounts and rewards. Adjusted EBITDAR is presented on a consolidated basis outside the financial statements solely as a valuation metric. Traditional net debt in the table above is calculated as Total traditional debt, which is the principal amount of debt outstanding (excludes the financing obligation associated with cash proceeds received and non-cash interest on certain claims of which the principal repayment is contingent) less Cash and cash equivalents. Management believes that Traditional net debt is an important measure to monitor leverage and evaluate the balance sheet. Participation from Market Makers and ECNs is strictly voluntary and. The Company's omni-channel approach is further bolstered by its mychoice loyalty program, which rewards and recognizes its over 25 million members for their loyalty to both retail and online gaming and sports betting products with the most dynamic set of offers, experiences, and service levels in the industry. WYOMISSING, Pa.--(BUSINESS WIRE)--Nov. 3, 2022-- PENN Entertainment Fourth Quarter 2022 Investor Presentation, February 2, 2023. Gambling problem? Penn National First Quarter 2022 Investor Presentation, May 5, 2022, Penn National Fourth Quarter 2021 Investor Presentation, February 3, 2022, Penn National Third Quarter 2021 Investor Presentation, November 4, 2021, Penn National Gaming's Acquisition of Score Media and Gaming, August 5, 2021, Penn National Second Quarter 2021 Investor Presentation, August 5, 2021, Penn National First Quarter 2021 Investor Presentation, May 6, 2021, Penn National Fourth Quarter 2020 Investor Presentation, February 4, 2021, PENN Entertainment to Report Second Quarter Results and Host Conference Call and Webcast on August 9, PENN Entertainment Completes Migration of Barstool Sportsbook & Casino to Proprietary Technology Platform, PENN Entertainment Supports Reading Hospital with Multi-Year Charitable Commitment, Instruction Letter to Former Holders of Shares of Score Media and Gaming Inc. who were Eligible Holders - Section 85 Joint Tax Election. Read Full Bio Wendy Hamilton Senior Vice President, Chief Human Resources Officer For free confidential help, call the National Problem Gambling Helpline at 1-800-GAMBLER. Strong Balance Sheet, Liquidity, and Record Low Leverage. Upcoming Events | PENN Entertainment Management Presentation, Conference Call, Webcast and Replay Details. We are also seeing tangible benefits of our integrated media ecosystem approach in Ontario, with media users contributing over 80% more gross gaming revenue on theScore Bet than non-media users. Subsequent to the lease modification events, the land components associated with the Master Lease properties are primarily classified as finance leases.