PENN Entertainment Q3 2026 Revenue Rises to $1.84bn on Online Growth

PENN Entertainment reported $1.84 billion in revenue for the third quarter of 2026, an increase of 7.1% year‑over‑year, and posted net income of $32.6 million for the quarter ending September 30, 2026, reversing an $865.1 million loss in Q3 2025. Online gaming and sports betting revenue rose 17% to $348.4 million, while retail casino revenue reached $1.5 billion.

Regional and retail performance

The Midwest delivered the fastest regional revenue growth, rising 14.6% to $341.9 million in Q3 2026. The Northeast remained PENN Entertainment's largest retail market, generating $708.3 million, up 2.6%, and its Northeast casino portfolio—covering properties in Illinois, Pennsylvania and Ohio—increased Adjusted EBITDAR from $197.9 million to $208.1 million. Revenue in the West climbed about 6.7%, and the South was nearly flat.

Retail Adjusted EBITDAR for the quarter reached $501.8 million with margins of 33.7%, and across its land‑based casino business PENN generated $1.5 billion in quarterly revenue. CEO Jay Snowden attributed the retail results to higher customer spending and recent property investments.

“Our retail segment delivered better‑than‑expected revenue and Adjusted EBITDAR results, driven by same‑store growth and contributions from our completed development projects,” Jay Snowden said.

Interactive business and Canadian expansion

PENN Interactive produced $348.4 million in quarterly revenue, up from $297.7 million in Q3 2025, and narrowed its Adjusted EBITDA loss from $76.6 million to $18.3 million. The reported interactive revenue included a $191.4 million tax gross‑up, an accounting adjustment investors should factor into comparisons of online performance.

PENN launched online casino and sports betting products in Alberta during Q3 2026, adding a second regulated Canadian market alongside Ontario; Alberta opened its competitive online gambling market in July 2026. Snowdon said the early performance of Alberta iCasino and OSB operations has been encouraging and that Ontario recorded increases in active users and revenue per user across online casino and sports betting. Standalone Hollywood iCasino in the US also contributed to growth.

Financial position and liquidity

Consolidated Adjusted EBITDA increased about 46% to $284 million, compared with $194.9 million a year earlier. Gaming revenue improved to $1.37 billion from $1.33 billion. At quarter‑end PENN reported $2 billion in total liquidity, including approximately $1 billion in cash and cash equivalents.

“We are also pleased with the early performance of our Alberta iCasino and OSB operations, which further expand our Canadian presence,” Snowden said.

PENN’s results reflect simultaneous retail strength and expanding regulated online operations in Canada and the US. For further context on casino products see casino and for company regulation topics see regulation.