PENN Entertainment reported strong financial results for the first quarter of 2025, with revenues of $1.4 billion and an adjusted EBITDAR of $457 million, despite challenges from severe weather earlier in the year.

The company achieved record gaming revenue in its Interactive segment and significant year-over-year improvements in revenue and adjusted EBITDA, while also committing to a substantial share repurchase program. The company’s resilience and strategic investments in customer loyalty and omni-channel offerings have bolstered its market position.

Jay Snowden, Chief Executive Officer and President, said: “PENN’s properties demonstrated strong
resilience in the quarter following severe weather challenges earlier in the year, as gaming volumes
rebounded in March and remained consistent through April and early May.

In our Interactive segment we generated record gaming revenue and significant year-over-year improvements in both revenue and Adjusted EBITDA despite industry-wide unfavorable sports betting hold. Our corporate overhead costs were higher by approximately $8 million in the quarter due to legal and advisory expenses.

Through May 7, 2025 we have repurchased $35 million of shares and remain committed to our previously stated goal torepurchase at least $350 million of shares this year.