(AsiaGameHub) – Penn Entertainment kicked off 2026 with rising demand at retail locations and improved iCasino performance. The firm reported first-quarter revenue of $1.4 billion, with segment adjusted EBITDAR reaching $471.4 million.
Good to Know
- Penn noted that Q1 saw its most significant retail expansion in three years.
- The interactive division recorded $358.3 million in revenue alongside a $10.8 million adjusted EBITDA loss.
- theScore Bet is preparing for its mobile sports wagering and iCasino debut in Alberta.
Retail Locations and iCasino Drive Penn’s Q1 Performance
Penn Entertainment experienced a surge in foot traffic at its regional properties, with guests spending more during their visits. CEO Jay Snowden highlighted that increased attendance and higher spending levels resulted in the most substantial quarterly growth for rated customer segments in three years.
Snowden remarked:
“Higher visitation rates and increased spending per guest across the company drove year-over-year growth in theoretical revenue for all rated segments, marking our best quarterly gain in three years.”
Adjusted EBITDAR for the retail segment also saw year-over-year improvement, with steady demand persisting through April. Penn has directed capital toward several sites, including the M Resort in Nevada, Ameristar Black Hawk in Colorado, Hollywood Columbus in Ohio, and Hollywood Casino Aurora in Illinois.
Regional casinos continue to serve as a vital foundation for Penn, as many patrons reside near the venues. Snowden pointed out that the majority of regional guests live within a 30-minute commute, which helps mitigate the impact of rising costs like gasoline.
The company also highlighted improved performance from its digital wing. While the interactive segment brought in $358.3 million in revenue, it saw a $10.8 million adjusted EBITDA loss, which management attributed partly to expenses related to the upcoming launch of theScore Bet in Alberta.
The digital approach is now prioritizing iCasino more heavily. Penn reported a roughly 15% year-over-year increase in iCasino revenue, with standalone iCasino operations hitting record quarterly revenue in Q1 and a monthly peak in March.
Chief Technology Officer Aaron LaBerge noted that while online sports betting has been more sluggish, online casino growth remains robust. He explained that the company has scaled back marketing in states that only offer sports betting, focusing instead on “hybrid” states that permit both iCasino and sports wagering.
Penn anticipates that Alberta will serve as a new growth engine for theScore Bet. Having secured regulatory approval from Alberta Gaming, Liquor, and Cannabis, the company plans to offer both mobile sports betting and iCasino. Snowden mentioned that based on their Ontario experience, they expect to capture a similar market share in Alberta.
Snowden characterized 2026 as a year dedicated to operational execution, generating free cash flow, reducing corporate expenses, and maintaining disciplined capital allocation.
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