Penn Says Election Day Was Good for Gaming
Penn Entertainment's CEO said the midterm results favored the gaming industry as the company reported $1.5 billion in third-quarter revenue.
Updated on Nov. 5, 2026 in Gambling
Penn Entertainment CEO Jay Snowden said Election Day was good for the company and the gaming industry during Thursday's earnings call. The company reported $1.5 billion in third-quarter 2026 revenue.
Why it matters
Snowden said many advocates of pro skill-based games lost their elections or influence in two states, which could shape how skill games are regulated. The hope is that a new wave of Democratic legislators will be more amenable to gaming proposals the industry has long championed.
Penn Entertainment reported $501.8 million in third-quarter 2026 Adjusted EBITDAR, a 33.7% segment margin that rose 80 basis points year-over-year, with land-based revenues up 5% (1% excluding recent projects). It remains unclear whether the company's expansion into Georgia retail gaming will move forward, and the upside in shares may be modest.
The players
Penn Entertainment
Penn Entertainment is a publicly traded American gaming company that operates casinos, racetracks and online betting properties across several states.
Jay Snowden
Jay Snowden is the chief executive officer of Penn Entertainment, a role he has held while leading the company's regional casino and racetrack operations.
Catherine Hanaway
Catherine Hanaway is the attorney general of Missouri, where Penn Entertainment operates three casinos.
The details
Snowden made the remarks during Penn's Thursday earnings call. Penn owns two racetracks in Texas, two properties in Pennsylvania and three casinos in Missouri, and its shares rose 13.2% over the past week.
Timeline
October 14, 2026: Pennsylvania's deadline to shutter all skill games, as declared by the state Supreme Court.
November 3, 2026: Election Day, which Snowden described as good for the gaming industry.
November 5, 2026: Penn released its third-quarter results and held its earnings call.
Gaming Landscape
The fight over skill games in Pennsylvania, where the state Supreme Court ordered all such games shuttered by October 14, 2026, illustrates how courts and legislatures are reshaping the gaming market. Penn's comments suggest the industry expects the political shift to reopen doors for the casino and racetrack expansion it has long sought.
Players who use skill games in Pennsylvania will need to find other options before the October 14, 2026 shutdown deadline. Anyone tracking casino or racetrack availability in Texas, Missouri or Georgia should watch for regulatory changes that could follow the election.
The takeaway
Election results can quickly change the rules for gambling, so following state legislative races is useful for anyone tracking the industry. Watch for deadlines such as Pennsylvania's skill game shutdown date, which will determine what games remain available.
What happens next
The October 14, 2026 deadline for shuttering Pennsylvania skill games is the next scheduled milestone in this dispute.
Further reading
Explore more gambling news to see how election outcomes are shaping the wider industry.
Source note: This article includes information reported by CDC Gaming.
