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PENN Entertainment, Inc., together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates online sports betting in various jurisdictions; and iCasino under Hollywood Casino, L'Auberge, ESPN BET, and theScore Bet Sportsbook and Casino brands. The company's portfolio also includes PENN Play, customer loyalty program, which offers a set of rewards and experiences for business channels. In addition, it owns various trademarks and service marks, including Ameristar, Argosy, Boomtown, Hollywood Casino, Hollywood Gaming, L'Auberge, PENN Play, theScore, theScore Bet, theScore esports, and M Resort. The company was formerly known as Penn National Gaming, Inc. and changed its name to PENN Entertainment, Inc. in August 2022. PENN Entertainment, Inc. was founded in 1972 and is based in Wyomissing, Pennsylvania.
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Penn National Gaming operates casinos, racetracks and resort properties across the United States and has an expanding digital wagering and iGaming business delivered through branded platforms and partner apps. Long-term growth may be supported by the continued legalization of sports betting, expansion of online gaming, geographic scale and an asset-light approach to real estate via lease arrangements. The company could appeal to investors seeking diversified exposure to both retail gaming and digital wagering in a consolidating industry.
Key risks include regulatory and legislative changes to gambling laws, intense competition in online wagering and potential financial strain from elevated leverage and long-term lease obligations.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Income before tax | 175.30M | 539.10M | -834.20M | 86.10M | 89.92M |
| Minority interest | 0.40M | 0.30M | 0.40M | -0.80M | -0.01M |
| Net income | 222.10M | 420.80M | -669.10M | 43.90M | 93.51M |
| Selling general administrative | 1110.40M | 1352.90M | 1130.80M | 1187.70M | 618.95M |
| Gross profit | 2770.10M | 2757.00M | 1710.70M | 2346.90M | 1539.95M |
| Reconciled depreciation | 567.50M | 344.50M | 366.70M | 414.20M | 268.99M |
| Ebit | 974.00M | 1059.60M | 333.60M | 793.40M | 650.30M |
| Ebitda | 1629.60M | 1445.30M | 700.30M | 1207.60M | 919.29M |
| Depreciation and amortization | 655.60M | 385.70M | 366.70M | 414.20M | 268.99M |
| Non operating income net other | -40.50M | 41.20M | 119.20M | 48.40M | -4.75M |
| Operating income | 974.00M | 1059.60M | 333.60M | 793.40M | 634.09M |
| Other operating expenses | 5309.50M | 4845.40M | 3365.50M | 4556.40M | 2953.83M |
| Interest expense | 758.20M | 561.70M | 543.20M | 534.20M | 539.42M |
| Tax provision | -46.40M | 118.60M | -165.10M | 43.00M | -3.59M |
| Interest income | 18.30M | 1.10M | 0.90M | 1.40M | 1.00M |
| Net interest income | -739.90M | -561.70M | -543.20M | -534.20M | -538.41M |
| Non recurring | 118.20M | - | 623.40M | 173.10M | - |
| Income tax expense | -46.40M | 118.60M | -165.10M | 43.00M | -3.59M |
| Total revenue | 6401.70M | 5905.00M | 3578.70M | 5301.40M | 3587.92M |
| Total operating expenses | 1677.90M | 1697.40M | 1497.50M | 1601.90M | 905.86M |
| Cost of revenue | 3631.60M | 3148.00M | 1868.00M | 2954.50M | 2047.96M |
| Total other income expense net | -798.70M | -520.50M | -1167.80M | -707.30M | -5.76M |
| Net income from continuing ops | 221.70M | 420.50M | -669.50M | 43.10M | 93.51M |
| Net income applicable to common shares | 222.10M | 420.80M | -669.50M | 43.90M | 93.52M |
| Breakdown | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total assets | 16064.20M | 17502.10M | 16872.10M | 14667.30M | 14194.50M |
| Intangible assets | 1618.20M | 1738.90M | 1872.60M | 1513.50M | 2026.50M |
| Other current assets | 42.60M | 36.90M | 32.40M | 31.30M | 40.00M |
| Total liab | 12864.60M | 13905.50M | 12775.00M | 12011.50M | 12342.60M |
| Total stockholder equity | 3202.10M | 3597.70M | 4097.80M | 2656.20M | 1852.70M |
| Deferred long term liab | - | 33.90M | 189.10M | 126.30M | 244.60M |
| Other current liab | 382.20M | 770.80M | 201.00M | 137.40M | 147.10M |
| Common stock | 1.80M | 1.70M | 1.70M | 1.60M | 1.20M |
| Capital stock | 1.80M | 21.10M | 27.50M | 24.70M | 1.20M |
| Retained earnings | -335.50M | 154.50M | -86.50M | -507.30M | 161.60M |
| Other liab | - | 151.80M | 318.10M | 245.70M | 342.60M |
| Good will | 2695.10M | 2689.50M | 2822.50M | 1157.10M | 1270.70M |
| Other assets | - | 161.20M | 157.00M | 133.00M | 106.40M |
| Cash | 1071.80M | 1624.00M | 1863.90M | 1853.80M | 437.40M |
| Total current liabilities | 1490.00M | 1158.70M | 1133.20M | 860.00M | 905.60M |
| Current deferred revenue | 639.70M | 33.90M | 597.50M | 437.70M | 484.20M |
| Net debt | 1693.80M | 11284.90M | 9741.20M | 9303.70M | 10891.00M |
| Short term debt | 431.50M | 313.90M | 281.40M | 251.70M | 234.00M |
| Short long term debt | 47.60M | 119.60M | 99.50M | 81.40M | 62.90M |
| Short long term debt total | 2765.60M | 12908.90M | 11605.10M | 11157.50M | 11328.40M |
| Other stockholder equity | 3657.10M | 3590.70M | 4211.20M | 3138.80M | 1689.90M |
| Property plant equipment | - | 4515.50M | 9435.20M | 4529.30M | 5120.20M |
| Total current assets | 1659.00M | 2013.40M | 2223.60M | 2085.00M | 642.80M |
| Long term investments | 84.90M | 248.60M | 255.10M | 266.80M | 128.30M |
| Net tangible assets | - | 888.80M | 320.50M | -37.50M | -1444.50M |
| Short term investments | - | - | - | 266.00M | - |
| Net receivables | 319.00M | 246.40M | 195.00M | 96.40M | 88.70M |
| Long term debt | 2718.00M | 2721.30M | 2637.30M | 2231.20M | 2322.20M |
| Inventory | 225.60M | 106.10M | 132.30M | 103.50M | 76.70M |
| Accounts payable | 36.60M | 40.10M | 53.30M | 33.20M | 40.30M |
| Noncontrolling interest in consolidated entity | - | -1.10M | -0.70M | -0.40M | -0.80M |
| Accumulated other comprehensive income | -121.30M | -168.60M | -54.40M | - | -2685.10M |
| Common stock total equity | - | 1.70M | 1.70M | 1.60M | 1.20M |
| Preferred stock total equity | - | 19.40M | 25.80M | 23.10M | - |
| Retained earnings total equity | - | 154.50M | -86.50M | -507.30M | 161.60M |
| Treasury stock | - | - | -28.40M | -28.40M | -28.40M |
| Non currrent assets other | 69.70M | 159.00M | 74.00M | 171.60M | -75.90M |
| Non current assets total | 14405.20M | 15488.70M | 14648.50M | 12582.30M | 13551.70M |
| Capital lease obligations | 8776.60M | 6097.30M | 8868.30M | 8844.90M | 8943.30M |
| Long term debt total | - | 2721.30M | 2637.30M | 2231.20M | 2322.20M |
| Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Investments | -258.60M | -27.40M | -135.00M | 956.00M | 15.36M |
| Change to liabilities | 29.10M | -30.40M | -63.70M | 40.90M | -63.15M |
| Total cashflows from investing activities | -258.60M | -1221.80M | -233.70M | -607.50M | -1423.10M |
| Net borrowings | -1579.20M | 291.00M | 157.90M | 9.30M | 1318.90M |
| Total cash from financing activities | -853.00M | 339.90M | 1310.10M | -122.40M | 1272.13M |
| Change to operating activities | -94.10M | 13.10M | -118.70M | -88.00M | -39.00M |
| Net income | 221.70M | 420.50M | -669.10M | 43.10M | 93.51M |
| Change in cash | -235.90M | 9.70M | 1415.20M | -26.00M | 201.82M |
| Begin period cash flow | 1880.10M | 1870.40M | 455.20M | 481.20M | 279.42M |
| End period cash flow | 1644.20M | 1880.10M | 1870.40M | 455.20M | 481.24M |
| Total cash from operating activities | 878.20M | 896.10M | 338.80M | 703.90M | 352.79M |
| Issuance of capital stock | 0.00M | 0.00M | 1288.80M | - | - |
| Depreciation | 567.50M | 344.50M | 366.70M | 414.20M | 268.99M |
| Other cashflows from investing activities | 4.80M | -8.00M | 38.30M | -1372.90M | -1345.91M |
| Change to inventory | - | 13.10M | -118.70M | -88.00M | -38.94M |
| Change to account receivables | -81.20M | -82.30M | -16.50M | 27.00M | -1.73M |
| Sale purchase of stock | -601.10M | 10.80M | 1351.50M | -24.90M | -50.05M |
| Other cashflows from financing activities | 1522.10M | 465.80M | 909.80M | 406.30M | 1988.04M |
| Change to netincome | 81.60M | 197.40M | 498.50M | 222.20M | 16.02M |
| Capital expenditures | 272.40M | 268.30M | 141.80M | 202.30M | 174.16M |
| Change receivables | -68.10M | -85.00M | -16.50M | 27.00M | -1.73M |
| Cash flows other operating | 37.40M | -34.70M | 206.60M | -51.20M | 32.74M |
| Exchange rate changes | - | -4.50M | - | - | - |
| Cash and cash equivalents changes | -233.40M | 9.70M | 1415.20M | -26.00M | 201.82M |
| Change in working capital | -161.40M | -89.40M | -174.30M | -63.80M | -50.07M |
| Stock based compensation | 58.10M | 35.10M | 14.50M | 14.90M | 12.03M |
| Other non cash items | 343.00M | 189.90M | 919.30M | 274.40M | 55.00M |
| Free cash flow | 605.80M | 627.80M | 197.00M | 501.60M | 178.63M |
Sector: Consumer Cyclical Industry: Resorts & Casinos
|
Stock Name
|
Change
(USD) |
Price
(USD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
Enterprise Value
to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| PENN Penn National Gaming Inc |
0.09 0.52% |
17.43 | - | 33.90 | 0.40 | 0.80 | 2.05 | 32.52 |
| LVS Las Vegas Sands Corp |
-0.19 0.46% |
40.73 | 16.00 | 11.98 | 1.95 | 47.27 | 2.87 | 8.52 |
| GXYEF Galaxy Entertainment Group Ltd |
- -% |
4.06 | 14.06 | 11.70 | 0.38 | 1.58 | 2.49 | 8.34 |
| GXYYY Galaxy Entertainment Group Ltd ADR |
0.06 0.27% |
22.16 | 13.33 | 12.64 | 0.36 | 1.71 | 2.49 | 8.34 |
| SCHYF Sands China Ltd |
- -% |
1.46 | 16.30 | 12.21 | 1.90 | 10.75 | 2.43 | 9.56 |
PENN Entertainment, Inc., together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates online sports betting in various jurisdictions; and iCasino under Hollywood Casino, L'Auberge, ESPN BET, and theScore Bet Sportsbook and Casino brands. The company's portfolio also includes PENN Play, customer loyalty program, which offers a set of rewards and experiences for business channels. In addition, it owns various trademarks and service marks, including Ameristar, Argosy, Boomtown, Hollywood Casino, Hollywood Gaming, L'Auberge, PENN Play, theScore, theScore Bet, theScore esports, and M Resort. The company was formerly known as Penn National Gaming, Inc. and changed its name to PENN Entertainment, Inc. in August 2022. PENN Entertainment, Inc. was founded in 1972 and is based in Wyomissing, Pennsylvania.
825 Berkshire Blvd., Wyomissing, PA, United States, 19610
610 373 2400
23333
| Name | Title | Year Born |
|---|---|---|
| Mr. Jay A. Snowden | Pres, CEO & Director | 1976 |
| Ms. Felicia Rae Kantor Hendrix | Exec. VP & CFO | 1969 |
| Mr. Todd George | Exec. VP of Operations | 1970 |
| Ms. Harper H. Ko | Exec. VP, Chief Legal Officer & Sec. | 1974 |
| Ms. Christine LaBombard | Sr. VP & Chief Accounting Officer | 1970 |
| Mr. Richard Primus | Sr. VP & Chief Information Officer | NA |
| Mr. D. Eric Schippers | Sr. VP of Public Affairs & Chairman of the Penn National Gaming Foundation | NA |
| Ms. Jennifer Weissman | Sr. VP & Chief Marketing Officer | NA |
| Ms. Wendy Hamilton | Sr. VP & Chief HR Officer | NA |
| Mr. Albert T. Britton | Sr. VP of Regional Operations | 1957 |
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