PENN Entertainment, Inc. - PENN STOCK NEWS

PENN Entertainment, Inc. has released its 2022 Corporate Social Responsibility (CSR) report highlighting significant advancements in its CSR initiatives. Key achievements include:

• Completion of the first Scope 1 & 2 Greenhouse Gas Emissions Inventory.
• Expansion of the STEM Scholarship Program in partnership with Historically Black Colleges and Universities.
• Implementation of mandatory diversity training for all employees.
• Development of a framework to track ESG efforts.
• Introduction of ESG metrics in executive compensation.
• Contribution of $7.6 million to local charities and 8,000 hours volunteered by employees.
• PENN Interactive received the Responsible Gambling Council's RG Check iGaming Accreditation.

CEO Jay Snowden emphasized the commitment to ongoing CSR initiatives that reflect PENN's core values.

PENN Entertainment has launched its enhanced customer loyalty program, PENN Play, designed to replace the mychoice® program. The initiative aims to provide 26 million loyalty members with expanded opportunities to earn and redeem rewards across the company's brands. PENN Play enables members to track and redeem PENN Cash through various activities, including gaming, dining, and shopping at properties like Hollywood Casino and L’Auberge. To celebrate the launch, a promotional campaign will distribute $1.5 million in PENN Cash and prizes. PENN Play also improves the overall customer experience with new tier levels, a marketplace for rewards, and collaborations with Live Nation and Choice Hotels. The rebranding includes enhancements to the PENN Heroes program, benefiting active-duty military and first responders.

PENN Entertainment, Inc. (Nasdaq: PENN) will release its 2023 first quarter financial results on May 4, 2023, at 7:00 a.m. ET. A conference call and webcast will follow at 9:00 a.m. ET. The conference call can be accessed at 212/231-2932, and interested participants should connect five minutes early. The call will be open to the public, and a replay will be available for thirty days on their website. PENN operates 43 properties across 20 states and offers online sports betting in 17 jurisdictions, among other services. The company emphasizes a differentiated strategy with a focus on organic growth and customer loyalty.

Knightscope, Inc. (Nasdaq: KSCP) announces the successful deployment of its K5 Autonomous Security Robot, named 'M-Bot', at M Resort Spa Casino, property of PENN Entertainment, Inc. (Nasdaq: PENN). The K5 enhances guest safety and experience by patrolling areas and offering a two-way communication system. The initiative aims to improve security within the entertainment and gaming sectors, reflecting a commitment to technology for safety and customer satisfaction. Knightscope continues to innovate in autonomous security solutions, seeking to make the U.S. a safer place.

PENN Entertainment has successfully completed the acquisition of Barstool Sports, purchasing the remaining interest for approximately $388 million. This follows PENN's initial investment of $163 million for a 36% stake in February 2020. Barstool, celebrating its 20th anniversary, boasts over 200 million followers and a significant multimedia presence. The acquisition aims to enhance PENN's digital sports and gaming strategy, leveraging Barstool's brand for customer acquisition and cross-selling opportunities. With Barstool, PENN expects increased growth in its online betting platform, which currently operates in 15 states.

PENN Entertainment reported its 2022 fourth quarter results with revenues of $1.6 billion, up 0.8% year-over-year. However, net income decreased to $20.8 million from $44.8 million, yielding a net income margin of 1.3%. Adjusted EBITDAR was $468.3 million, down 2.5% year-over-year, though Adjusted EBITDA improved by 18.8% to $438.3 million. The company initiated guidance for 2023 with projected revenues between $6.15 billion and $6.58 billion. PENN also repurchased $91 million of stock and has $2.6 billion in total liquidity, alongside total traditional net debt of $1.1 billion.