PENN Entertainment Reports Profit Amid Debt Reduction
On August 6, PENN Entertainment (NASDAQ:PENN) reported a net income of $32.6 million for Q2 2026, reversing from a loss in the same period last year. Revenue increased to $1.86 billion and Adjusted EBITDA rose to $312.6 million. The Retail segment performed strongly with revenue reaching $1.5 billion and an adjusted EBITDAR margin of 34.4%. New additions like Hollywood Columbus hotel tower and Hollywood Casino Aurora contributed positively. The company's balance sheet improved, with total liquidity at $1.9 billion as of June 30, including $887.2 million in cash. Traditional net debt decreased to $1,927.5 million from $2,217.5 million by the end of 2025, reducing leverage ratios significantly. The Interactive segment still reported a loss but showed improvement compared to last year's figures. Despite these improvements, institutional ownership has declined and short interest remains high at 14.07%.
Tickers: $PENN