← Research LibraryThe BriefFY2025 10-K · headline figures audited against SEC data
PENN grew revenue 5.8% to $6.96B as its online casino business scaled, but ended the ESPN BET deal and wrote off $825 million of Interactive goodwill, widening the net loss to $843M
The read at a glance✓ Audited against SEC data
- Growth — Revenue up 5.8% to $6.96B; Interactive revenue $1,302.6 millionOK
- Profitability — Operating margin -9.68%; net loss $843M after $945.3 million of impairmentsWatch
- Balance sheet — Debt up 3.8% to $2.90B; equity down 35.9%; large casino leasesWatch
- Accounting quality — Distress-zone balance-sheet score; no manipulation flag; earnings quality safeWatch
- Capital allocation — Bought back 20,090,831 shares for $354M; no dividendNote
- Insider buying — CEO, CFO and two directors bought shares in the marketOK
Business
PENN runs 42 casinos and racetracks in 19 states, most of them on land leased from the REIT Gaming and Leisure Properties, plus an online business, PENN Interactive, that runs theScore Bet sportsbook and Hollywood iCasino in 22 jurisdictions across the U.S. and Canada. Slots are about 86% of gaming revenue. Retail segments are Northeast ($2,769.2 million of 2025 revenue), Midwest, South and West; Interactive brought in $1,302.6 million.
Where the revenue comes from
Fiscal 2025, as PENN Entertainment, Inc. reports it. History and quarterly detail are in the app.
- Northeast$2.8B
- Interactive$1.3B
- Midwest$1.2B
- South$1.2B
- West$543.2M
Leadership changes
From PENN Entertainment, Inc.'s own filings, the day they're filed.
- Ronald J. Naples · Directors · departureeff. 2025-04-25
- Felicia Hendrix · principal accounting officer · appointmenteff. 2024-02-25
- Anuj Dhanda · appointment
Latest filings
- 10-Q · Quarterly report2026-08-06
- 8-K · Company announcement2026-08-06
- 8-K · Company announcement2026-06-18
- 8-K · Company announcement2026-05-28
- 10-Q · Quarterly report2026-04-29
In the full recordFree for 14 days
- What changed🔒
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- Margins & accounting🔒
- Capital allocation🔒
- Real risks🔒
- The long arc🔒
- Company history🔒
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- Full financial statements, industry-aware, sources cited throughout🔒
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- Ana — ask about PENN Entertainment, Inc., every answer cited to the official filings🔒
Every figure comes from the company's filings, and analysis whose figures don't match SEC data is rejected before publication.
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