PENN Q3 Revenue Hits $1.84B as Texas Opportunities Emerge, Interactive Losses Narrow
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PENN raised its retail outlook after record quarterly revenue. On the call, management discussed Texas gambling opportunities, Alberta’s growth and its strategy toward prediction markets. PENN Entertainment reported third-quarter revenue of $1.84 billion, up 7.1% year over year, driven by record retail casino revenue and a sharp reduction in its interactive losses. CEO Jay Snowden outlined potential gambling expansion opportunities following the midterm elections, including Texas and states considering iGaming legalization.
Source: Gambling Insider
