Morningstar

PENN Entertainment Inc PENN

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Stock XNAS Rating as of
$14.77 +0.25 (1.72%)
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As of Delayed Price Post-Trading: $14.77 0.00

Company Report

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Penn's Investments Sparking Demand Across Competitive Retail Gaming Industry

Dan Wasiolek

We estimate Penn held a high-single-digit percentage revenue share of the $79 billion domestic commercial casino gaming market in 2025. We think a handful of development projects across its regional portfolio during 2025-27 stand to improve the company's competitive standing. The first of these projects was the opening of a relocated land property from a riverboat location in Joliet, Illinois, in August 2025. This was followed by two other projects scheduled to open in the first half of 2026.

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Price vs Fair Value

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PENN is trading at a LOCK|St$&W@ premium.
Price
$14.52
Fair Value
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Uncertainty
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1-Star Price
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5-Star Price
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Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

We see Penn's domestic properties and theScore brand positioned to participate in the $52 billion US sports betting and i-gaming revenue opportunity by 2030.

Bears

Debt levels are elevated, which could inflate financing costs for future renovations and investments.

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News

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Trading Information

Previous Close Price
$14.52
Day Range
$14.35–15.04
52-Week Range
$11.65–22.36
Bid/Ask
$14.36 / $15.06
Shares Outstanding
134.07M
Market Cap
$1.98B
Volume/Avg
4M / 3M

Key Statistics

Price/Earnings (Normalized)
36.30
Price/Sales
0.28
Dividend Yield (Trailing)
0.00%
Dividend Yield (Forward)
0.00%
Dividend Payment Schedule
—
Total Yield
23.78%

Company Profile

Penn Entertainment’s origins date back to its 1972 racetrack opening in Pennsylvania. Today, Penn operates 42 properties across 20 states and 12 brands, including Hollywood Casino and Ameristar. Land-based casinos represented 81% of total sales in 2025; 19% was from the interactive segment, which includes sports, i-gaming, and media revenue. The retail portfolio generates low-30s EBITDAR margins and helps position the company to obtain licenses for the digital wagering markets. Additionally, Penn’s media asset, theScore, provides access to sports betting/i-gaming technology and clientele, helping it form a leading digital position.
Sector
Consumer Cyclical
Industry
Resorts & Casinos
Stock Style Box
Small Value
Total Number of Employees
23,441
Website
https://www.pennentertainment.com

Competitors

Valuation

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Metric
PENN
DKNG
WYNN
Price/Earnings (Normalized)
 36.3049.5917.10
Price/Book Value
 1.0516.85—
Price/Sales
 0.281.541.08
Price/Cash Flow
 1.9025.445.41
Price/Earnings
PENN
DKNG
WYNN

Financial Strength

Metric
PENN
DKNG
WYNN
Quick Ratio
 0.760.690.84
Current Ratio
 0.891.020.91
Interest Coverage
 −1.32−3.522.03
Quick Ratio
PENN
DKNG
WYNN

Profitability

Metric
PENN
DKNG
WYNN
Return on Assets (Normalized)
 0.63%1.85%3.62%
Return on Equity (Normalized)
 4.35%11.60%—
Return on Invested Capital (Normalized)
 3.61%4.30%8.42%
Return on Assets
PENN
DKNG
WYNN

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LOCK|s%SLmQLOCK|V#$8B
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LOCK|?%v>KMVLOCK|!@$6B
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