PENN Entertainment Inc. released Q2 results earlier this week, which included record-setting growth from its retail segment along with continued improvement from iGaming. These were driven by a launch in a new market, increased engagement from the World Cup, and the opening of new properties. The results highlight how PENN’s pivot to a focus on online casino over sports betting has been highly beneficial for the company.
Jay Snowden, CEO and President of PENN Entertainment, stated that “PENN achieved record quarterly Retail segment revenues” and that their Interactive segment is meeting their goals, “supported by growth in U.S. iCasino and Canada.”
Snowden went on to say that nine PENN properties set records for revenues and Adjusted Earnings Before Interest, Taxes, Depreciation, Amortization, and Restructuring or Rent costs (EBITDAR).
This included total revenue of $1.5 billion along with Segment Adjusted EBITDAR of $517.2 million. Both of these are record-setting figures for the retail segment of the company. Snowden noted that new properties opened in June of this year are showing positive trends, including the hotel tower at Hollywood Columbus and Hollywood Casino Aurora.
These results highlight how retail properties continue to be the main source of revenue for PENN Entertainment.
The main takeaway from PENN Q2 results in the iGaming sector is the improvement in Adjusted EBITDA, which was at a loss of $9.5 million. Even though it’s a loss, it’s a significant improvement year-over-year. For context, Q2 2025 produced an Adjusted EBITDA loss of $62.0 million.
PENN’s growth in iGaming was driven by record quarterly revenue at Hollywood iCasino along with increased engagement in sports betting with the World Cup. The company also launched its flagship betting platform, theScore Bet, in Alberta, Canada, which created a new revenue source for the company.
PENN Entertainment’s record-setting revenue for Q2 2026 shows how it can use its retail sector to continue to invest in its iGaming sector. As the regional casinos perform well, we can see improvements to its online platform.
Another reason for these positive results is PENN’s pivot to a focus on online casino. Online casino has greater margins than sportsbooks, so prioritizing this segment has yielded strong results for PENN. With these results, we can expect to see more attention put into online casinos.
Currently, PENN operates Hollywood iCasino and theScore Casino (which also includes a sportsbook, theScore Bet). This means you could see more games being added to the library of each of these platforms, along with improvements to the overall user experience.
The shift to a focus on online casino came at a time when a partnership with ESPN didn’t work out for PENN, so they went back to their theScore Bet brand. With FanDuel and DraftKings, along with prediction markets like Kalshi and Polymarket, creating a more competitive market, it made sense for PENN to focus on iGaming.
Judging by the Q2 2026 results, the move is clearly working.
