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Sep 30, 2021
Penn National Q3 2021 Earnings Report
Reported third quarter revenues, net income, adjusted EBITDAR, and adjusted EBITDA.
Key Takeaways
Penn National Gaming reported strong third-quarter results with revenues of $1.5 billion and a net income of $86.1 million. The company's adjusted EBITDAR reached $480.3 million, and adjusted EBITDA was $364.3 million. The Barstool Sportsbook mobile app expanded to multiple states, contributing to the company's growth.
Launched Barstool Sportsbook mobile app in five states, more than doubling footprint.
Opened Hollywood Casino York with strong initial results and rolled out cashless, cardless, and contactless technology across the portfolio.
Continued to generate revenues and EBITDAR significantly above 2019 levels, despite impacts from Hurricane Ida and the Delta variant.
Closed acquisition of Score Media and Gaming, Inc. to become North America’s leading digital, entertainment, sports content, gaming, and technology company.
Forward Guidance
The company did not provide guidance but expressed optimism about future performance.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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