PENN Entertainment held a quarterly earnings call on Thursday, with the company detailing plans to continue focusing on improving and growing its online casino business.
PENN held a Q2 2026 earnings call on Thursday that provided an overview and insights into the company’s financial results and plans to continue driving profits. The entertainment and gaming giant acknowledged its areas of focus as it continues to solidify a footprint in North America’s gaming market following the end of a $1.5bn deal to operate ESPN Bet.
“On the revenue side, we experienced solid growth across our key focus areas: U.S. iCasino and our Canadian operations,” said PENN CFO Felicia Hendrix during the earnings call.
PENN reported growth for its iCasino business behind the delivery of standalone wagering apps. Most recently, the company launched its three standalone apps in Alberta:
- theScore Bet Sportsbook & Casino
- Hollywood Casino
- theScore Casino
“We’re seeing strong growth on our standalone casino products, and we have since we launched,” said PENN CEO Jay Snowden. “We still feel really good about our standalone business and casino through the end of the year.”
PENN executives also discussed the company’s sports betting business during the call, with leadership acknowledging that there is still room for growth for the vertical, particularly as its customer base continues to take shape after ending its deal with ESPN.
The company plans to continue cross-selling its iCasino and sports betting businesses.
“As our audience normalizes, what we’ve realized is theScore brand, while still small and growing in the U.S., is very loyal, and so we’re taking care of those users,” said PENN Chief Technology Officer Aaron LaBerge. “We saw a lot of engagement and reactivation through the World Cup. We’re keeping those people engaged through football, so we feel good there. Cross-sells should continue as the sportsbook business grows as well.”
Profitable June for PENN sports bettors
Total revenue for PENN in Q2 2026 reached $1.8bn, up from $1.7bn for the same period last year. The results were led by the company’s retail segment, which posted $1.5bn in revenue. Meanwhile, the company’s interactive business generated $349.4m in revenue.
PENN’s interactive segment includes the operations of theScore Bet and theScore Casino. The interactive business also includes the company’s online Hollywood Casino operations.
“Our U.S. Hollywood-branded standalone casino app generated quarter-over-quarter as well as year-over-year growth, achieving record revenues in Q2,” added Snowden.
PENN also noted that its interactive segment was impacted by “customer-friendly online sportsbook outcomes” during the quarter. The company experienced the majority of the customer-friendly outcomes during June with the NBA Finals and World Cup in action.
During the World Cup, approximately 70% of PENN sportsbook customers placed a World Cup wager. Out of that group, roughly 45% placed a bet on soccer for the first time.
PENN noted that its largest online sports betting market is Ontario. Meanwhile, Pennsylvania has emerged as the company’s most profitable online casino market.
Other key financial results for PENN
In Q2 2026, total consolidated adjusted EBITDA for PENN was $312.6m. By comparison, the company’s consolidated adjusted EBITDA in Q2 2025 closed at $236m. Net income for PENN in Q2 2026 reached $32.6m, compared to a net loss of $18.3m in Q2 2025.
During the Q2 earnings call, PENN provided full-year projections for its interactive segment. The company estimates full-year revenue for its interactive segment to reach $1.5bn. PENN’s previous guidance projected interactive revenue in FY2026 to close at $1.6bn.
PENN revised its interactive revenue guidance amid the operator’s recent entry into Alberta’s adolescent open commercial gaming market. PENN entered Alberta’s gaming market with its sports betting and online casino products last month. The company is expecting to report losses in some capacity in Q3 following its investments in the province.
“As we have guided previously, the third quarter is expected to be the largest quarterly loss of the year given our investment in Alberta,” continued Hendrix.
PENN is also expecting a highly competitive football season for North America’s gaming market, particularly with the growth of football contracts offered by prediction markets.
“We anticipate football season being quite the arms race this year,” said Snowden. “You’re going to have prediction markets that are targeting customers for the first football season ever, given the timeline of when they actually went live, which was close to the Super Bowl last year. We already assumed it was going to be a very aggressive, irrational marketing spend for advertising and new customer acquisition approach this football season.”
