PENN Entertainment Reports Third Quarter Revenue Growth

PENN Entertainment posted higher third quarter 2026 revenue and net income, with all reportable segments growing over the prior year.

Updated on Nov. 5, 2026 in Gambling

PENN Entertainment Reports Third Quarter Revenue Growth

PENN Entertainment reported third quarter 2026 revenue of $1,840 million, up from $1,717 million a year earlier, and net income of $32.6 million compared with a net loss of $865.1 million in the prior year quarter. Diluted earnings per share were $0.24, and the company beat analysts' consensus estimates.

Why it matters

The results show revenue gains across every reportable segment, with Retail margins improving and the Interactive business drawing growth from Canada and standalone iCasino offerings. The shift to profit reflects the company's operating momentum heading into the coming year.

Retail segment revenue reached $1.5 billion with an adjusted EBITDAR of $501.8 million, while the Interactive segment posted $348.4 million in revenue and an $18.3 million adjusted EBITDA loss. Total liquidity stood at $2 billion as of September 30, 2026, with traditional net debt at $1.762 billion, down from $2.217 billion a year earlier.

The players

PENN Entertainment

PENN Entertainment is a gaming and entertainment company headquartered in Wyomissing, Pennsylvania, operating 43 properties across 20 states.

The details

Growth came from same-store gains and completed development projects in Retail, with rated revenue and spend per visit rising across all age segments. In Interactive, revenue increases were driven by Ontario and Canadian iCasino activity, and the segment's revenue figure included a $191.4 million tax gross-up.

September 30, 2026: Third quarter period ended, with liquidity and net debt measured.
October 2026: Management said healthy operating trends in Retail and Interactive continued.

Market Landscape

The Interactive segment's growth in Ontario reflects the broader expansion of regulated online casino markets in Canada, where licensed operators have gained share since the province opened its market. Standalone iCasino growth in the United States is a parallel trend as states widen access to online gaming.

For bettors and casino guests, the results point to continued investment in Retail properties and expanding online casino access in Canada and select U.S. states. Players should check their local rules before using iCasino services, since availability depends on each state or province.

The takeaway

Revenue growth across every segment and a sharp swing to profit make PENN's quarter a clear signal of operating momentum. Readers tracking the gambling sector should watch whether Interactive reaches its full-year adjusted EBITDA target.