PENN Entertainment have seen overall revenues of $1.4 billion in Q2, but the quarter hasn’t been without its challenges as the company touches on the need for operational discipline.
Jay Snowdon, the CEO and President, is quoted in the latest report saying the results “include approximately $2.9 million in severance costs, incurred as part of strategic workforce adjustments that drive efficiencies while supporting a modern, scalable technology infrastructure.”
It was just in June when it was reported that the American entertainment company had laid off staff at the Toronto-based theScore. The publisher Canadian Gaming Business understands that more than 75 employees were let go, with the layoffs reported to have roughly cut the brand’s editorial newsroom in half and impacted the sales team.
Although the company has been going through this form of operational discipline, its interactive segment generated record gaming revenue in both online sports betting and online casino.
PENN Entertainment excited to deliver development project, the new Hollywood Casino in Joliet
The interactive segment saw revenues of $316.1 million, but with an adjusted EBITDA loss of $62.0 million.
“Our standalone Hollywood iCasino app is continuing to expand its reach with over 70% of its gaming revenue life-to-date (through June 30) generated by users that are newly acquired, retail native, or reactivated,” Snowdon commented.
Big News! This football season, @ESPNBET is bringing together media, betting and fantasy like never before with FanCenter, a new dedicated hub within ESPN BET that will take personalization to the next level. pic.twitter.com/y7Fe0phrDa
— PENNEntertainment (@PENNEntertain) August 4, 2025
“We also recently enhanced our ESPN BET offering by introducing engaging features such as Player Insights which allow customers to evaluate player statistics in relation to player prop bets. And this football season marks the exciting launch of FanCenter, which leverages our connectivity with the ESPN ecosystem to enable players to bet on their favorite teams, players, and fantasy lineups through ESPN BET.”
As for the retail property level highlights, this sector brought in revenues of $1.4 billion, with an adjusted EBITDAR of $489.6 million.
“Customer demand in our core business was stable as properties not impacted by new supply grew revenue by nearly 4% year-over-year,” said Snowden.
“Property-level performance was highlighted by theoretical revenue growth across all rated age and worth segments, as well as positive trends in unrated play, visitation, and spend per visit.
“Omnichannel engagement continues to benefit our results, with online-to-retail player count and theoretical revenue growing year-over-year by 8% and 28%, respectively.”
The CEO also stated they are excited to deliver the first of the company’s development projects with the opening of the new Hollywood Casino in Joliet on August 11.
Featured Image: Penn Entertainment
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