PENN Entertainment Interactive segment showed strong momentum in Q4 2024, contributing $275 million in revenue despite a reported EBITDA loss. The company saw record online casino growth and improvements in sports betting performance. CEO Jay Snowden highlighted the impact of strategic digital initiatives and the expansion of ESPN BET features.

  • PENN’s Interactive segment reported $275 million in revenue in Q4 2024, including a tax gross-up of $132.8 million. In Q3 2024, the interactive revenue was $31.5 million. The full-year 2024 revenue reached $959,9 million ($718.8 million in 2023).

  • Adjusted EBITDA of Interactive was a loss of $109.8 million. Despite the loss, the company achieved significant year-over-year improvements through disciplined promotions and digital expansion.

  • Online casino revenue saw record quarterly performance, growing over 60% compared to the previous year. The success was fueled by the standalone Hollywood Casino app, which launched in Pennsylvania and Michigan, strengthening the company’s iCasino presence.

  • Sports betting performance improved, with the parlay mix exceeding 30% of total handle in December and January. Increased adoption of same-game parlays (SGP) contributed to this growth, with SGP mix rising steadily each month since football season began.

  • PENN Entertainment is enhancing its digital offerings in 2025, including live streaming within the ESPN BET app and Men’s NCAA Tournament Challenge integrations with ESPN. Additional launches of standalone iCasino apps are also planned to drive further growth.

  • The company’s omni-channel strategy successfully increased online-to-retail cross-selling, with a 64% year-over-year rise in digital customers engaging with physical casino locations.

  • Beyond the Interactive segment, total Q4 2024 revenue reached $1.4 billion, with Adjusted EBITDAR of $461.2 million and a margin of 33.1%. Liquidity stood at $1.7 billion as of December 31, 2024, while traditional net debt was reported at $1.9 billion.

  • PENN Entertainment plans to repurchase at least $350 million in shares throughout 2025, reflecting confidence in its growth strategy across both digital and retail segments.

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