PENN

EX-99.1

2 pennex991-q22026.htm

EX-99.1

Document

Exhibit 99.1

PENN Entertainment, Inc. Reports Second Quarter Results

WYOMISSING, PA (August 6, 2026) - PENN Entertainment, Inc. (“PENN” or the “Company”) (Nasdaq: PENN) today reported financial results for the three and six months ended June 30, 2026.

Jay Snowden, Chief Executive Officer and President, said: “We continued to execute against our 2026 strategic priorities this quarter: delivering Segment Adjusted EBITDAR growth, optimizing corporate overhead, growing cash flow, and deleveraging the balance sheet. PENN achieved record quarterly Retail segment revenues, supported by strong performance across our portfolio including our four recently completed development projects. Our Interactive segment remains on track to deliver upon our previously stated goals, supported by growth in U.S. iCasino and Canada. Adjusted EBITDA improved by $52.5 million year-over-year, reflecting disciplined execution of our strategy to drive profitability. The encouraging trends in our Retail and Interactive operating segments have continued through July.”

Second Quarter Retail Segment Highlights1:

•Revenues of $1.5 billion;

•Segment Adjusted EBITDAR of $517.2 million; and

•Segment Adjusted EBITDAR margins of 34.4%.

“PENN’s geographically diverse Retail segment delivered portfolio-wide strength, with nine properties setting second-quarter records for revenues and Adjusted EBITDAR,” said Mr. Snowden. “We experienced another quarter of year-over-year growth in theoretical revenue, supported by meaningful contributions from mid- and high-worth customer segments, as well as growth in unrated revenue, underscoring broad-based consumer demand. Second-quarter Segment Adjusted EBITDAR margins improved quarter-over-quarter and year-over-year, reflecting our property teams’ focus on converting solid demand into favorable operating results. In June 2026, we opened both the new hotel tower at Hollywood Columbus and the new Hollywood Casino Aurora, and early trends at both properties are encouraging, including strong visitation from VIP players.”

Second Quarter Interactive Segment Highlights:

•Revenues of $349.4 million (including tax gross up of $185.5 million); and

•Adjusted EBITDA loss of $9.5 million.

“Our Interactive segment delivered another quarter of meaningful year-over-year Adjusted EBITDA improvement. In the U.S., standalone Hollywood iCasino experienced quarter-over-quarter as well as year-over-year growth, achieving record quarterly revenues. In Ontario, gaming operations continued to gain momentum, supported by strong growth in online sports betting (“OSB”) revenues aided by solid World Cup engagement and cross-sell of the reactivated World Cup OSB user base into iCasino. We also successfully launched theScore Bet, as well as theScore Casino and Hollywood iCasino standalone apps, in Alberta on July 13,” concluded Mr. Snowden.

1 Retail Segment consists of retail operating segments which are composed of our Northeast, South, West, and Midwest reportable segments.

Liquidity and Financial Position

Total liquidity as of June 30, 2026 was $1.9 billion, including $887.2 million of Cash and cash equivalents. Traditional net debt as of June 30, 2026 was $1.9 billion.

On April 16, 2026, the Company amended its Second Amended and Restated Credit Agreement in order to refinance and extend the term of its $1.0 billion Amended Revolving Credit Facility and $446.9 million Amended Term Loan A Facility. The Amended Revolving Credit Facility and Amended Term Loan A Facility mature in April 2031.

On May 15, 2026, the Company repaid the remaining $106.7 million principal balance of its 2.75% Convertible Notes due 2026, eliminating approximately 4.6 million potentially dilutive shares associated with the notes.

On May 28, 2026, the Company amended its Second Amended and Restated Credit Agreement in order to reprice and extend the term of its $962.5 million Amended Term Loan B Facility. The Amended Term Loan B Facility matures in May 2033.

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Summary of Second Quarter Results

For the three months ended June 30,

(in millions, except per share data, unaudited)20262025

Revenues$1,857.4 $1,765.0

Net income (loss)$32.6 $(18.3)

Consolidated Adjusted EBITDA (1) $312.6 $236.1

Rent expense associated with triple net operating leases (2) $163.3 $156.0

Cash payments to our REIT Landlords under Triple Net Leases (3) $247.1 $240.0

Diluted earnings (loss) per common share$0.24 $(0.12)

(1)For more information, definitions, and reconciliations see the “Non-GAAP Financial Measures” section below.

(2)Consists of the operating lease components of (i) our triple net master lease dated November 1, 2013 with Gaming and Leisure Properties, Inc. (Nasdaq: GLPI) (“GLPI”), as amended and restated effective January 1, 2023 (the “AR PENN Master Lease”), (ii) our triple net master lease entered into in conjunction with, and coterminous with, the AR PENN Master Lease (the “2023 Master Lease”), and (i

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penn-202602260000921738false00009217382026-02-262026-02-26

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): February 26, 2026

PENN Entertainment, Inc. (Exact Name of Registrant as Specified in Charter)

Pennsylvania 0-2420623-2234473 (State or Other Jurisdiction of Incorporation)(Commission File Number)(I.R.S. Employer Identification No.)

825 Berkshire Blvd., Suite 200 Wyomissing, PA 19610 (Address of Principal Executive Offices, and Zip Code)

610-373-2400 Registrant's Telephone Number, Including Area Code Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): ☐    Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐    Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐    Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered Common Stock, $0.01 par value per sharePENNThe Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2 of this chapter).

Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition. On February 26, 2026, PENN Entertainment, Inc. (the “Company”) issued a press release announcing the results of operations and financial condition for the quarter and year ended December 31, 2025. A copy of this press release is being furnished as Exhibit 99.1 to this Current Report on Form 8-K.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.Description of Exhibit 99.1Press release dated February 26, 2026 of PENN Entertainment, Inc.

104Cover Page Interactive Data File (embedded within the Inline XBRL document).

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date:February 26, 2026PENN Entertainment, Inc.

By:/s/ Christopher Rogers Christopher Rogers

Executive Vice President, Chief Strategy and Legal Officer and Secretary