Business
Penn National Gaming Reports Fourth Quarter Revenues of $1.03 Billion, Net Income of $12.7 Million, Adjusted EBITDAR of $365.4 Million, and Adjusted EBITDA of $255.9 Million
- Launched Barstool Sportsbook Mobile App in Michigan to Strong Demand and Introduced New Fully Integrated Barstool iCasino Product - - Opened Retail
About this update from Penn Entertainment, Inc.
[{"type":"text","content":"\n- Launched Barstool Sportsbook Mobile App in Michigan to Strong Demand and Introduced New Fully Integrated Barstool iCasino Product -\n\n- Opened Retail Barstool Sportsbooks at Ameristar Casino Black Hawk, Greektown Casino Hotel, Hollywood Casino Lawrenceburg, and Ameristar East Chicago -\n\n- Preparing to Enter Our 20th State Via Pending Acquisition of Hollywood Casino Perryville in Maryland -\n\n WYOMISSING, Pa.--(BUSINESS WIRE)--\nPenn National Gaming, Inc. (NASDAQ: PENN) (“Penn National” or the “Company”) today reported financial results for the three months and year ended December 31, 2020.\n\nJay Snowden, President and Chief Executive Officer, commented: “As we reflect on 2020, I couldn’t be prouder of the resiliency and determination shown by our corporate and property team members during what was undoubtedly one of the most challenging years for any of us from a personal and professional standpoint. We have endured unprecedented changes to our business, created and implemented enhanced safety protocols for our team members and guests, and withstood natural disasters that brought damage to several of our southern properties and left many of our team members displaced in the midst of a global pandemic. Yet, despite these challenges, the Company has continued to execute on its long-term strategy by re-evaluating and re-imagining our operational norms and product offerings while accelerating our digital transformation.\n\n“Our investment in Barstool Sports provides us with a fully integrated media platform to support our evolution from the nation’s largest regional gaming operator to the best-in-class omnichannel provider of retail and online gaming and sports betting entertainment. In addition to the successful launches of our Barstool Sportsbook app in Pennsylvania and Michigan, we have now fully implemented our industry leading mychoice reward program across all our properties and online channels. This program of over 20 million members connects our land-based casinos to our sports betting and iCasino products, offering players a wide-range of compelling incentives to consolidate play across our various platforms. More recently, we announced a strategic partnership with Choice Hotels which allows the more than 47 million members of Choice’s award-winning loyalty program, Choice Privileges, to book stays at Penn National...