Represents cash proceeds received and non-cash interest on certain claims of which the principal repayment is contingent and classified as a financing obligation under Accounting Standards Codification Topic 470, Debt.. Must be 21+ to wager. The Barstool Sportsbook mobile app experienced sizable growth in the fourth quarter while maintaining a disciplined approach to marketing spend. Joseph N. Jaffoni JCIR (212) 835-8500 penn@jcir.com. The Interactive segment includes Penn Interactive, which operates social gaming, our internally-branded retail sportsbooks, iGaming and our Barstool Sportsbook mobile app, as well as the operating results of theScore, which was acquired on October 19, 2021. WYOMISSING, Pa.--(BUSINESS WIRE)--Feb. 3, 2022-- Penn National Gaming, Inc. (NASDAQ: PENN) (Penn National or the Company) today reported financial results for the three months and year ended December 31, 2021. Investor Relations. The Company saw strong property level performance across all segments for most of the quarter, with some softness in late December due to Omicron, which abated in late January. Written by BNK Invest for BNK Invest ->. The Northeast segment consists of the following properties: Ameristar East Chicago, Hollywood Casino at Greektown, Hollywood Casino Bangor, Hollywood Casino at Charles Town Races, Hollywood Casino Columbus, Hollywood Casino Lawrenceburg, Hollywood Casino Morgantown (opened December 22, 2021), Hollywood Casino at PENN National Race Course, Hollywood Casino Perryville (acquired July 1, 2021), Hollywood Casino Toledo, Hollywood Casino York (opened August 12, 2021), Hollywood Gaming at Dayton Raceway, Hollywood Gaming at Mahoning Valley Race Course, Marquee by PENN, Hollywood Casino at The Meadows, and Plainridge Park Casino. 212-835-8500 or penn@jcir.com, PENN Entertainment First Quarter 2023 Investor Presentation, May 4, 2023, PENN Entertainment Fourth Quarter 2022 Investor Presentation, February 2, 2023, PENN Entertainment Third Quarter 2022 Investor Presentation, November 3, 2022, PENN Entertainment Second Quarter 2022 Investor Presentation, August 4, 2022, Joseph N. Jaffoni PENN Entertainment, Inc. (PENN) Earnings Transcripts | Seeking Alpha Such statements are all subject to risks, uncertainties and changes in circumstances that could significantly affect the Companys future financial results and business. Find annual reports, presentations and transcripts of calls. Were continuing to see strong growth in our mychoice database with year-over-year increases in rated theo across all demographic segments except for those aged 65 and over. We also recognize the sacrifices of our active-duty military, veterans and first responders by offering them special discounts and rewards. stock chart sec filing news releases directors & officers presentations governance conference calls. In the meantime, we remain focused on enhancing our energy efficiency throughout our properties through LED lighting upgrades and the installation of EV charging stations and smart thermostats. NEW LOOK. 9/30/2021 Form 10-Q. In addition, in October 2021, Penn National acquired Score Media and Gaming, Inc. (theScore). Our mission is simple: to create authentic entertainment experiences that deliver premium service without pretense at an exceptional value. Mr. Snowden continued, Regarding Penn Nationals ongoing ESG initiatives, during the fourth quarter, we proudly launched a new Science, Technology, Engineering and Mathematics (STEM) Scholarship Program in partnership with Historically Black Colleges and Universities (HBCUs) in states in which we operate. Mike Nieves SVP, Finance & Treasurer PENN Entertainment, Inc. 610/373-2400 Joseph N. Jaffoni, Richard Land JCIR 212/835-8500 or penn@jcir.com Site Navigation PENN - PENN Entertainment, Inc. - Yahoo Finance Meanwhile our support for our nations heroes continues. 212-835-8500 or penn@jcir.com, PENN Entertainment First Quarter 2023 Investor Presentation, May 4, 2023, PENN Entertainment Fourth Quarter 2022 Investor Presentation, February 2, 2023, PENN Entertainment Third Quarter 2022 Investor Presentation, November 3, 2022, PENN Entertainment Second Quarter 2022 Investor Presentation, August 4, 2022, Joseph N. Jaffoni Additional information on Penn Nationals reported results, including a reconciliation of the non-GAAP results to their most comparable GAAP measures, is included in the financial tables below. Instruction Letter to Former Holders of Shares of Score Media and Gaming Inc. who were . Additionally, Penn Nationals omni-channel approach drove overall database growth over 7% in 2021, with contributions from both its online and traditional properties, leading to enhanced marketing opportunities and 23.5% year-over-year growth in our VIP segment compared to Q4 2019. The Company does not intend to update publicly any forward-looking statements except as required by law. Our growth has been fueled by organic customer acquisition from both the Barstool Sports audience and mychoice database, leading to what we believe are the lowest customer acquisition costs and best return on investment timelines in the industry. Must be 21+ to wager. Consists of payments made to GLPI and VICI (referred to collectively as our REIT Landlords) under the Master Leases, the Perryville Lease, the Meadows Lease, the Margaritaville Lease, the Greektown Lease and the Morgantown Lease. Investors - Gaming and Leisure Properties, Inc. The Midwest segment consists of the following properties: Ameristar Council Bluffs, Argosy Casino Alton, Argosy Casino Riverside, Hollywood Casino Aurora, Hollywood Casino Joliet, our 50% investment in Kansas Entertainment, LLC, which owns Hollywood Casinoat Kansas Speedway, Hollywood Casino St. Louis, Prairie State Gaming, and River City Casino. Our fourth quarter revenues of $1.6 billion and Adjusted EBITDAR of $480.5 million exceeded both 2020 and 2019 levels as our best-in-class operating teams continue to deliver impressive results despite the ongoing pandemic. Joseph N. Jaffoni JCIR (212) 835-8500 penn@jcir.com. Although Adjusted EBITDA includes rent expense associated with our triple net operating leases, we believe Adjusted EBITDA is useful as a supplemental measure in evaluating the performance of our consolidated results of operations. Penn National Gaming : Entertainment Second Quarter 2022 Investor Adjusted EBITDA is inclusive of income or loss from unconsolidated affiliates, with our share of non-operating items (such as interest expense, net; income taxes; depreciation and amortization; and stock-based compensation expense) added back for Barstool Sports, Inc. (Barstool) and our Kansas Entertainment, LLC joint venture. WYOMISSING, Pa. & TORONTO -- (BUSINESS WIRE)--Aug. 5, 2021-- Penn National Gaming, Inc. (Nasdaq: PENN) ("Penn National" or the "Company") and Score Media and Gaming, Inc. (TSX: SCR; Nasdaq: SCR) ("theScore") announced today that they have entered into a definitive agreement whereby Penn National will acquire theScore, a leading digital media and. Amount primarily relates to a $102.8 million impairment charge in the Northeast segment. See the Non-GAAP Financial Measures section below for more information as well as the definitions of Adjusted EBITDA and Adjusted EBITDAR. Adjusted EBITDAR is presented on a consolidated basis outside the financial statements solely as a valuation metric. Find out the total of insider shares held, purchased and sold. Barstools social media reach across all accounts and platforms (including Twitter, Instagram, TikTok, Facebook and YouTube) now exceeds 144 million, representing a year-over-year increase of 25%. Joseph N. Jaffoni JCIR (212) 835-8500 penn@jcir.com. Specifically, forward-looking statements include, but are not limited to, statements regarding: 2022 net revenues and Adjusted EBITDAR guidance ranges and the assumptions provided regarding the guidance, including the scale and timing of investments in technology; the Companys anticipated share repurchases; the Companys expectations of future results of operations and financial condition, including the anticipated strategic plan, growth and profitability of the Interactive segment and the benefits gained by executing on the Companys omni-channel and media strategy; the Companys expectations with regard to the impact of competition in online sports betting, iGaming and retail/mobile sportsbooks; the Companys launch of its Interactive segments products in new jurisdictions and enhancements to existing Interactive segment products, including the transition to the Scores proprietary risk and trading platform in Ontario, the integration of the Barstool Sportsbook into theScore mobile app in the U.S. and the migration of the Barstool Sportsbook to theScores player account management trading platforms; the Companys expectations with regard to its future investments in Barstool Sports and the future success of its products; the Companys expectations with respect to the integration and synergies related to the Companys integration of theScore and Barstool Sports; the Companys expectations for its properties and the potential benefits of the cashless, cardless and contactless (3Cs) technology; the Companys development projects; and the timing, cost and expected impact of planned capital expenditures on the Companys results of operations; the actions of regulatory, legislative, executive or judicial decisions at the federal, state or local level with regard to our business and the impact of any such actions. With the launch of online sports betting in Louisiana on January 28, Penn National now operates sports betting in 12 states and iCasino in four and looks forward to gaining additional scale in 2022 with anticipated launches in Ontario, Ohio and Maryland. PENN NATIONAL GAMING, INC. AND SUBSIDIARIES We also introduced our industry leading cashless, cardless and contactless technology (3Cs) in Kansas which represents our tenth property offering our 3Cs technology. Investors in PENN Entertainment Inc (Symbol: PENN) saw new options become . This change reflects managements belief that the operating results of our Interactive segment represent a strategic and high growth component of our overall operations. We remain on track to migrate the Barstool Sportsbook to this platform in mid-2023, after which we will begin to realize significant cost savings and improved marketing capabilities. Total liquidity of $2.5 billion, inclusive of $1.9 billion in cash, positions us well to be opportunistic in an extremely dynamic marketplace. Annual Shareholder Presentation. 2023 PENN Entertainment, Inc. All rights reserved. Our ability to leverage Penn Game Studios in developing titles such as Barstool Blackjack and Barstool Slots allows us to introduce bespoke on-line casino entertainment to the loyal Barstool audience who engages with us in our online sports betting offerings, while also reducing third party content fees, said Mr. Snowden. Investor Relations - William Penn Bank The Company does not provide a reconciliation of projected Adjusted EBITDA and Adjusted EBITDAR because it is unable to predict with reasonable accuracy the value of certain adjustments that may significantly impact the Companys results, including realized and unrealized gains and losses on equity securities, re-measurement of cash-settled stock-based awards, contingent purchase payments associated with prior acquisitions, and income tax (benefit) expense, which are dependent on future events that are out of the Companys control or that may not be reasonably predicted. In addition, our casino footprint has provided us with direct market access in several key states as well as a source of recurring and meaningful third-party skin revenue, said Mr. Snowden. Leadership | PENN Entertainment A limitation associated with using traditional net debt is that it subtracts cash and cash equivalents and therefore may imply that there is less Company debt than the most comparable GAAP measure indicates. Although Adjusted EBITDA includes rent expense associated with our triple net operating leases, we believe Adjusted EBITDA is useful as a supplemental measure in evaluating the performance of our consolidated results of operations. Take the time to learn more about our environmental, social and governance (ESG) efforts. Consolidated Statements of Operations, Less: Net (income) loss attributable to non-controlling interest, Net income (loss) attributable to Penn National, Weighted-average common shares outstandingbasic, Weighted-average common shares outstandingdiluted, Less: Debt discounts and debt issuance costs. Investor Relations. During the fourth quarter, theScore generated record revenue, which increased 32% year-over-year as reported, reflecting the tremendous value of its broad and active audience. Penn Nationals commitment to fund STEM scholarships is an extension of our companys established partnerships with 33 HBCUs across the country, continued Mr. Snowden. (in millions, except per share data, unaudited), Rent expense associated with triple net operating leases (2), Payments to our REIT Landlords under Triple Net Leases (3). PENN is hosting a conference call and simultaneous webcast at 9:00 am ET today, both of which are open to the general public. PENN September 1st Options Begin Trading. Overall, theScore grew media revenue 76% for the year compared to 2020 as reported. PENN Entertainment Third Quarter 2022 Investor Presentation, November 3, 2022 . Additionally, we incurred debt discounts and debt issuance costs due to the May 2022 refinancing of our Senior Secured Credit Facilities. During the nine months ended September 30, 2022, the Company repurchased 14,690,394 shares of its common stock in open market transactions for $510.1 million at an average price of $34.72 per share. We see opportunities to further increase the value of our media business in 2022, including cross-promotion and collaboration between theScore and Barstool Sports as well as promoting theScore Bet app to our 25 million mychoice members, said Mr. Snowden. PENN Entertainment First Quarter 2023 Investor Presentation, May 4, 2023, PENN Entertainment Fourth Quarter 2022 Investor Presentation, February 2, 2023, PENN Entertainment Third Quarter 2022 Investor Presentation, November 3, 2022, PENN Entertainment Second Quarter 2022 Investor Presentation, August 4, 2022, Joseph N. Jaffoni PENN Entertainment Fourth Quarter 2022 Investor Presentation, February 2, 2023. PENNs highly differentiated strategy, which is focused on organic cross-sell opportunities, is reinforced by its investments in owned technology, including a state-of-the-art media and betting platform and an in-house iCasino content studio. These improvements drove steady month-over-month growth this past fall in both handle and gross gaming revenue for the Barstool Casino. This metric is included as supplemental disclosure because (i) we believe Adjusted EBITDAR is traditionally used by gaming operator analysts and investors to determine the equity value of gaming operators and (ii) Adjusted EBITDAR is one of the metrics used by other financial analysts in valuing our business. Barstool Sports, Inc. experienced another record year from both an audience and financial standpoint as it continues to redefine the digital media landscape. Furthermore, our transition in Ontario to our proprietary technology platform has exceeded our expectations by performing seamlessly with increased utilization, new betting markets, and other features. PENN Entertainment to Report Second Quarter Results and Host Conference Beginning with the quarter ended June 30, 2021, acquisition costs are presented as part of other expenses. Golden Entertainment | News & Press Releases Jul 06, 2023. Penn Nationals investment in technology is digitally transforming its retail operations and enhancing the customer experience. Highlights July 17, 2023 PENN Entertainment to Report Second Quarter Results and Host Conference Call and Webcast on August 9 July 14, 2023 PENN Entertainment Completes Migration of Barstool Sportsbook & Casino to Proprietary Technology Platform July 11, 2023 PENN Entertainment Supports Reading Hospital with Multi-Year Charitable Commitment 2023 PENN Entertainment, Inc. All rights reserved. We own and operate gaming properties across three divisions - resort and casino operations, pubs and taverns and distributed gaming. PENN generated revenues of $1.6 billion and Adjusted EBITDAR of $471.9 million. (212) 835-8500penn@jcir.com. Interested parties may also access the live call at www.pngaming.com; allow 15 minutes to register and download and install any necessary software. SAME EXTRAORDINARY REWARDS. Jul 13, 2023 Live Nation Entertainment Schedules Second Quarter 2023 Earnings Release And Teleconference PENN Entertainment Reports Third Quarter Results We present Adjusted EBITDA because it is used by some investors and creditors as an indicator of the strength and performance of ongoing business operations, including our ability to service debt, and to fund capital expenditures, acquisitions and operations. Equally impressive is the more than 25% year-over-year increase of guests who engage with us across multiple channels. The Company continues to see sizable contributions from its Barstool-branded retail sportsbooks as they are a powerful example of its omni-channel strength. Reimagining Gaming and Entertainment | PENN Entertainment PENN Entertainment Third Quarter 2022 Investor Presentation, November 3, 2022 . Jay Snowden, Chief Executive Officer and President, announced: We are pleased to report another solid quarter despite operating in an uncertain economic environment. PENN Entertainment NEW NAME. As part of our $4 million commitment to fund STEM scholarships at Historically Black Colleges and Universities, we are proud to announce that Prairie View A&M (TX) and Jackson State (MS) will become our 5th & 6th schools to enter the program. Financial Results :: Live Nation Entertainment (LYV) JCIR In Ontario, we are enjoying early success during our first football season while benefitting from theScore Bets seamless transition to our own fully-integrated, proprietary tech stack. View source version on businesswire.com: https://www.businesswire.com/news/home/20220203005354/en/, Felicia Hendrix About | Score Media and Gaming Inc. The South segment consists of the following properties: 1stJackpot Casino, Ameristar Vicksburg, Boomtown Biloxi, Boomtown Bossier City, Boomtown New Orleans, Hollywood Casino Gulf Coast, Hollywood Casino Tunica, LAuberge Baton Rouge, LAuberge Lake Charles, and Margaritaville Resort Casino. Does PENN Entertainment have a mailing list for financial information? (212) 835-8500penn@jcir.com, Penn National Gaming Reports Fourth Quarter Revenues of $1.6 Billion, Net Income of $44.8 Million, Adjusted EBITDAR of $480.5 Million, and Adjusted EBITDA of $369.0 Million. However, Adjusted EBITDAR when presented on a consolidated basis is not a financial measure in accordance with GAAP, and should not be viewed as a measure of overall operating performance or considered in isolation or as an alternative to net income because it excludes the rent expense associated with our triple net operating leases and is provided for the limited purposes referenced herein.
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