Penn Entertainment Q1 revenue rises 6.2% to $1.78bn; Alberta entry confirmed

Penn Entertainment has released its full financial results for the first quarter of 2026, highlighting an overall revenue rise of 6.2% to $1.78bn during the period.  

These latest financial figures paint a generally positive picture for the operator, which is currently undergoing a phase of change following the conclusion of its major partnership with ESPN and the new advent of theScore Bet.  

Retail remains king for Penn’s Q1  

Indeed, Penn’s retail department accounted for $1.4bn of the company's overall revenue figure, with sector EBITDAR also rising year-over-year to settle at $471.4m - complemented by a margin of 33.2%. The operator highlighted that the retail revenue figure represents “theoretical” growth in comparison to results from the year prior.  

Consolidating Penn’s combined results more broadly, the operator did experience a net loss of $2.2m during the first quarter of 2026, compared to a net income figure of $111.5m during Q1 2025. Company traditional net debt also currently sits at $2.2bn.  

By region, Penn’s Northeast and Midwest segments – encompassing its Chicago and Kansas locations – dominated retail revenues, generating $687.1m and $305.9m, respectively.  

Online advances during Penn’s first quarter  

Interactive (or online) revenues reached $358.3m during the first quarter for Penn, spurred on by 15% year-over-year iCasino revenue growth, which represented record advancement from the sector for the operator. The operator’s overall online revenue was subject to a notable 23.5% rise in comparison to  Q1 2025.  

Adjusted EBITDA did, however, settle at a loss of $10.8m, an outcome which could relate to recent investments around the company’s theScore Bet rebrand and imminent entry into the soon-to-be regulated Albertan online gambling market. Despite representing an overall loss, adjusted EBITDA did improve in comparison to results from the prior.  

CEO's comments   

Speaking on these latest results, Penn Entertainment CEO Jay Snowden stated: “We are pleased to report another solid quarter. Retail Segment Adjusted EBITDAR grew year-over-year and stable trends are carrying into April.  

“In our Interactive segment, continued online casino growth combined with positive trends in Ontario are driving momentum as we prepare for the anticipated July 13 launch of regulated iCasino and online sports betting in Alberta.  

“Importantly, we are executing on the plan we outlined last quarter, driving Retail and Interactive growth, optimizing corporate overhead, making disciplined capital investments, and continuing to deliver.”