PENN Entertainment

PENN

Market cap $2.65B

WYOMISSING, Pa. & AURORA, Ill.--(BUSINESS WIRE)--PENN Entertainment, Inc. (Nasdaq: PENN) (“PENN” or the “Company”) announced today the expected closure of the Hollywood Casino Aurora riverboat property at 5:59am CDT on Wednesday, June 10, in preparation for the grand opening of the all-new, $360 million land-based property set to open on June 24, 2026, pending customary regulatory approvals. “We are less than a month away from welcoming our loyal customers and guests to the new state-of-the-art.

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On May 28, 2026, Caesars Entertainment (NASDAQ: CZR | CZR Price Prediction) announced a definitive agreement to be acquired by Fertitta Entertainment.

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NEW YORK--(BUSINESS WIRE)--UNITE HERE urges shareholders to vote FOR the proposal to declassify the Board of Directors at PENN Entertainment, Inc. (“PENN”) and transition to annual elections for all directors at the AGM on June 16, 2026. PENN (NASDAQ: PENN) shareholders already supported declassification in 2010, yet the Board has not implemented that outcome. In the years since, governance standards have moved in greater favor of annual elections as investor expectations have become clearer. I.

PENN Entertainment remains burdened by high leverage and a low-quality regional asset base, making the equity unattractive versus peers. While management expects Interactive to breakeven and EBITDAR to improve 12.5% this year, leverage risk remains elevated and overshadows operational progress. PENN trades at an 11.8x EV/EBITDA premium versus peers at 7-9x, with no compelling reason to own the stock until leverage materially declines.

PENN Entertainment remains a cautious buy after a robust Q1 earnings beat and a 21% stock rally. Q1 results highlight significant improvement in the Interactive segment, with losses narrowing from -$89M to -$10M YoY. Physical casino projects are expected to generate 15%+ cash-on-cash returns, supporting incremental annual cash flow of ~$120M.