Penn Enteratinment player numbers up following ESPN linking roll out
08 Nov 2024
Penn Entertainment’s third quarter earnings call confirmed the positive momentum of ESPN Bet and ESPN link up partnership.
The interactive division yewstderday posted an adjusted EBITDA loss of $90.9 million, an improvement from the previously guided midpoint of a $125 million loss, the company reported Thursday. Penn noted that the improvements at ESPN Bet came from a higher parlay mix and lower promotional spending.
Penn’s stock reacted positively to the report, which included an update from CEO Jay Snowden that noted the company’s core business trends were “stable” through October.