PENN Entertainment, Inc. (PENN) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Also, I would like to thank you for your patience. Your conference will begin in approximately two minutes. Please continue to stand by. Thank you. ¶¶ ¶¶ ¶¶ Please stand by, your program is about to begin. Greetings and welcome to the Penn Entertainment first quarter 2026 earnings call. I would now like to turn the conference over to Joe Gifoni, Investor Relations. Please go ahead. Thank you, Chelsea. Good morning, and thank you for joining Penn Entertainment's 2026 first quarter conference call and webcast. We'll get to management's comments and presentation momentarily, as well as your questions and answers. And during Q&A, we ask that everyone please limit themselves to one question and one follow-up. I'll now review the Safe Harbor disclosure. Today's discussion contains forward-looking statements. Forward-looking statements involve risks, assumptions, and uncertainties that could cause actual results to differ materially. For more information, please see our press release for details on specific risk factors. It's now my pleasure to turn the call over to Penn's CEO, Jay Snowden. Jay, please go ahead. Thanks, Joe. Good morning. I'm pleased to report Penn's diversified retail portfolio delivered another solid quarter as retail segment adjusted EBITDA grew year over year. Our property performance was encouraging across the portfolio with particular strength in the West segment, reflecting the ongoing ramp of M Resort's new hotel tower and impressive results from the team at Ameristar Blackhawk. In the Midwest segment, we delivered strong revenue and EBITDA growth, led by our properties in the St. Louis market, as well as continued momentum at the new Hollywood Joliet in Illinois. Results thus far from our first two development projects provide us continued confiden...