# PENN Entertainment, Inc.: overview

PENN · Nasdaq · CIK 921738 · [Consumer discretionary](/sectors/consumer-discretionary.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/penn.md) · [Financials](/companies/penn/financials.md) · [Filings](/companies/penn/filings.md) · [Insiders](/companies/penn/insiders.md)

Latest reported revenue: [$1.86bn](/filings/0000921738-26-000022.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Aug 6, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax, accession 0000921738-26-000022).

## Last eight quarters

| Line item | Unit | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [1,639](/filings/0000921738-24-000038.md) | [1,669 d](/filings/0000921738-26-000008.md) | [1,673](/filings/0000921738-26-000015.md) | [1,765](/filings/0000921738-26-000022.md) | [1,717](/filings/0000921738-25-000043.md) | [1,806 d](/filings/0000921738-26-000008.md) | [1,779](/filings/0000921738-26-000015.md) | [1,857](/filings/0000921738-26-000022.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [4.1%](/filings/0000921738-25-000043.md) | [(2.9%) d](/filings/0000921738-26-000008.md) | [2.6%](/filings/0000921738-26-000015.md) | [4.4%](/filings/0000921738-26-000022.md) | [(45.2%)](/filings/0000921738-25-000043.md) | [(1.0%) d](/filings/0000921738-26-000008.md) | [5.5%](/filings/0000921738-26-000015.md) | [7.1%](/filings/0000921738-26-000022.md) |
| Net margin | % | [(2.2%)](/filings/0000921738-25-000043.md) | [(8.0%) d](/filings/0000921738-26-000008.md) | [6.7%](/filings/0000921738-26-000015.md) | [(1.0%)](/filings/0000921738-26-000022.md) | [(50.3%)](/filings/0000921738-25-000043.md) | [(4.0%) d](/filings/0000921738-26-000008.md) | [(0.1%)](/filings/0000921738-26-000015.md) | [1.8%](/filings/0000921738-26-000022.md) |
| Diluted EPS | $ per share | [(0.24)](/filings/0000921738-25-000043.md) | not reported | [0.68](/filings/0000921738-26-000015.md) | [(0.12)](/filings/0000921738-26-000022.md) | [(6.03)](/filings/0000921738-25-000043.md) | not reported | [(0.02)](/filings/0000921738-26-000015.md) | [0.24](/filings/0000921738-26-000022.md) |
| Free cash flow | $m | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |

- Revenue. XBRL Revenue: us-gaap:Revenues; Revenue: us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:Revenues; Revenue: us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:Revenues; Revenue: us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:Revenues; Revenue: us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [5,905](/filings/0000921738-24-000012.md) | [6,402](/filings/0000921738-24-000012.md) | [6,363](/filings/0000921738-24-000012.md) | [6,578](/filings/0000921738-26-000008.md) | [6,961](/filings/0000921738-26-000008.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [17.9%](/filings/0000921738-24-000012.md) | [15.2%](/filings/0000921738-25-000008.md) | [(10.8%)](/filings/0000921738-26-000008.md) | [1.1%](/filings/0000921738-26-000008.md) | [(9.7%)](/filings/0000921738-26-000008.md) |
| Net margin | % | [7.1%](/filings/0000921738-24-000012.md) | [3.5%](/filings/0000921738-25-000008.md) | [(7.7%)](/filings/0000921738-26-000008.md) | [(4.7%)](/filings/0000921738-26-000008.md) | [(12.1%)](/filings/0000921738-26-000008.md) |
| Diluted EPS | $ per share | [2.48](/filings/0000921738-24-000012.md) | [1.29](/filings/0000921738-25-000008.md) | [(3.22)](/filings/0000921738-26-000008.md) | [(2.05)](/filings/0000921738-26-000008.md) | [(5.83)](/filings/0000921738-26-000008.md) |
| Free cash flow | $m | [652](/filings/0000921738-24-000012.md) | [615](/filings/0000921738-25-000008.md) | not reported | not reported | not reported |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; Revenue: us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; Revenue: us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; Revenue: us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; Revenue: us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/penn/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $410.6m | 19,221,848 |  | Added +3,528,568 |
| [VANGUARD PORTFOLIO MANAGEMENT LLC](/funds/2100121.md) | 2026-06-30 | $218.5m | 10,227,322 |  | Added +1,858,351 |
| [AQR CAPITAL MANAGEMENT LLC](/funds/1167557.md) | 2026-06-30 | $147.2m | 6,892,718 |  | Added +3,931,414 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $127.9m | 5,985,664 |  | Reduced −41,334 |
| [DME Capital Management, LP](/funds/1489933.md) | 2026-06-30 | $125.2m | 5,860,270 |  | Reduced −184,170 |
| [Hill Path Capital LP](/funds/1676292.md) | 2026-06-30 | $123.0m | 5,759,820 |  | Unchanged |
| [EARNEST PARTNERS LLC](/funds/1102578.md) | 2026-06-30 | $118.6m | 5,551,025 |  | Added +2,723,817 |
| [HG Vora Capital Management, LLC](/funds/1525362.md) | 2026-06-30 | $115.3m | 5,398,590 |  | Reduced −276,410 |
| [STATE STREET CORP](/funds/93751.md) | 2026-06-30 | $113.0m | 5,289,200 |  | Added +923,412 |
| [BANK OF AMERICA CORP /DE/](/funds/70858.md) | 2026-06-30 | $108.9m | 5,099,206 |  | Added +747,896 |

## Recent filings

[All 1,614 filings](/companies/penn/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-08-06 | 16:16 ET | [10-Q](/filings/0000921738-26-000022.md) | Quarterly report, period 2026-06-30 | 0000921738-26-000022 |
| 2026-08-06 | 07:00 ET | [8-K](/filings/0000921738-26-000019.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0000921738-26-000019 |
| 2026-06-18 | 16:15 ET | [8-K](/filings/0001140361-26-025759.md) | 5.07 Shareholder vote results | 0001140361-26-025759 |
| 2026-05-28 | 16:05 ET | [8-K](/filings/0001104659-26-067476.md) | 1.01 Entry into a material agreement; 2.03 New direct financial obligation; 9.01 Financial statements and exhibits | 0001104659-26-067476 |
| 2026-04-29 | 16:15 ET | [10-Q](/filings/0000921738-26-000015.md) | Quarterly report, period 2026-03-31 | 0000921738-26-000015 |
| 2026-04-27 | 08:00 ET | [DEF 14A](/filings/0001140361-26-016846.md) | Proxy statement, period 2026-06-16 | 0001140361-26-016846 |
| 2026-04-23 | 07:00 ET | [8-K](/filings/0000921738-26-000011.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0000921738-26-000011 |
| 2026-04-16 | 16:05 ET | [8-K](/filings/0001104659-26-044358.md) | 1.01 Entry into a material agreement; 2.03 New direct financial obligation; 9.01 Financial statements and exhibits | 0001104659-26-044358 |
| 2026-03-16 | 16:24 ET | [8-K](/filings/0001104659-26-028502.md) | 1.01 Entry into a material agreement; 2.03 New direct financial obligation; 9.01 Financial statements and exhibits | 0001104659-26-028502 |
| 2026-02-26 | 16:16 ET | [10-K](/filings/0000921738-26-000008.md) | Annual report, period 2025-12-31 | 0000921738-26-000008 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0000921738-26-000008.md), filed Feb 26, 2026.

## Forecast league

Q3 FY2026, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by \[object Promise\]. [Forecast this quarter](/leagues/2026q3/targets/91c42219-b5fc-4b14-bb7a-91fed5cac72a)

## About the filer

- CIK: 921738
- Tickers: PENN
- Exchange: Nasdaq
- SIC code: 7011 Hotels & Motels
- State of incorporation: PA
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 24, 2026, 15:28 ET. No prices; not investment advice.