Penn reports $1.85bn Q2 revenue, swings to $32.6m net income following losses

Penn Entertainment has reported its Q2 2026 results, highlighting $1.85bn in revenue, a 5.2% year-on-year increase. More notably, the operator posted a positive $32.6m net income, compared with a $18.3M loss in the same period last year. Consolidated adjusted EBITDA increased to $312.6m, up 32.4%.

For H1 2026, the company reported $3.63bn in revenue, up approximately 3.4%, while consolidated adjusted EBITDA rose 41% to $578.4m.

The company’s retail segment generated $1.5bn in Q2 revenue, up around 3.9%, alongside segment adjusted EBITDAR of $517.2m, an increase of 5.6%. Nine properties recorded their strongest second-quarter results on record.

Penn CEO Jay Snowden commented: “Penn’s geographically diverse retail segment delivered portfolio-wide strength, with nine properties setting second-quarter records for revenue and adjusted EBITDAR.”

“We experienced another quarter of year-over-year growth in theoretical revenue, supported by meaningful contributions from mid- and high-worth customer segments, as well as growth in unrated revenue, underscoring broad-based consumer demand.”

The company’s interactive segment revenue increased 10.5% to $349.4m, while its adjusted EBITDA loss narrowed significantly to $9.5m from $62.0m, supported by growth in the US iCasino and Canada.

Snowden added: “Our Interactive segment delivered another quarter of meaningful year-over-year adjusted EBITDA improvement. In the US, standalone Hollywood iCasino experienced quarter-over-quarter as well as year-over-year growth, achieving record quarterly revenues.

‘’In Ontario, gaming operations continued to gain momentum, supported by strong growth in online sports betting (“OSB”) revenues aided by solid World Cup engagement and cross-sell of the reactivated World Cup OSB user base into iCasino. We also successfully launched theScore Bet, as well as theScore Casino and Hollywood iCasino standalone apps, in Alberta on July 13.”

As of 30 June, Penn reported $1.9bn in total liquidity, including $887.2m in cash and cash equivalents. Traditional net debt stood at $1.9bn.