PENN Entertainment, Inc. Reports Fourth Quarter Results Company to Repurchase at Least $350 Million of Shares in 2025 Exhibit 99.1 WYOMISSING, PA (February 27, 2025) - PENN Entertainment, Inc. ("PENN" or the "Company") (Nasdaq: PENN) today reported financial results for the quarter and year ended December 31, 2024. Jay Snowden, Chief Executive Officer and President, said: "PENN's fourth quarter property-level operating results reflect solid performance, as properties not impacted by new supply generated nea ...

Core Viewpoint - The market anticipates that PENN Entertainment will report a year-over-year increase in earnings driven by higher revenues in its upcoming earnings report for the quarter ended December 2024 [1] Earnings Expectations - PENN Entertainment is expected to post a quarterly loss of $0.41 per share, reflecting a year-over-year change of +76.6% [3] - Revenues are projected to reach $1.69 billion, representing a 20.8% increase from the same quarter last year [3] Estimate Revisions - The consensus EPS estimate has been revised 50% higher in the last 30 days, indicating a reassessment by analysts [4] - The Most Accurate Estimate for PENN is lower than the Zacks Consensus Estimate, leading to an Earnings ESP of -7.49% [10][11] Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that a positive or negative reading indicates the likely deviation of actual earnings from the consensus estimate, with a strong predictive power for positive readings [7][8] - Stocks with a positive Earnings ESP and a Zacks Rank of 1, 2, or 3 have historically produced a positive surprise nearly 70% of the time [8] Historical Performance - In the last reported quarter, PENN was expected to post a loss of $0.28 per share but actually reported a loss of $0.24, resulting in a surprise of +14.29% [12] - Over the past four quarters, PENN has beaten consensus EPS estimates two times [13] Conclusion - PENN Entertainment does not currently appear to be a strong candidate for an earnings beat, and investors should consider other factors when evaluating the stock ahead of its earnings release [16]

Group 1 - Casino stocks, particularly PENN Entertainment, have faced significant challenges compared to competitors since 2021 [1] - PENN stock has not performed well, indicating a more severe downturn than other publicly traded casino companies [1]

Company Performance and Governance Issues - PENN's shares have declined by 81% over the past four years, significantly underperforming the S&P 500 Index (+69%) and Boyd Gaming (+73%) [2] - The Board has overseen a failed Interactive strategy, resulting in nearly $4 billion in reckless spending on overpriced M&A transactions and media partnerships, leading to large ongoing operating losses [3] - Weak corporate governance has disenfranchised shareholders and entrenched board members while excessively compensating the CEO [4] Proposed Board Changes - HG Vora has nominated three independent director candidates (William J Clifford, Johnny Hartnett, Carlos Ruisanchez) to PENN's Board at the 2025 Annual Meeting [1] - This marks the first time in HG Vora's 15-year history that it has nominated directors, reflecting the urgency for change [5] Director Nominees' Qualifications - William J Clifford has over 30 years of gaming industry experience, including 12 years as CFO of Penn National Gaming, driving a 20x return for shareholders [6] - Johnny Hartnett has decades of online sports betting and gaming experience, including growing Superbet Group's revenue 7x and profitability 5x during his tenure as CEO [6][7] - Carlos Ruisanchez has a strong track record in capital allocation and value creation, including driving a nearly 5x total return for Pinnacle Entertainment shareholders during his tenure as CFO [7] Shareholder Position - HG Vora collectively owns approximately 4 8% of PENN's outstanding shares through its Master Fund and Downriver entities [11]

Core Insights - PENN Entertainment's subsidiary, PENN Sports Interactive, has formed a long-term multi-channel agreement with Monumental Sports & Entertainment, enhancing its market presence [1][2] - The partnership will allow ESPN BET to secure online market access in Washington D.C., expanding its reach to 19 states and nearly 46% of the U.S. population [2][6] - PENN's stock saw a 3% increase during trading hours, reflecting positive market sentiment towards the new partnership [1] Group 1: Partnership Details - The strategic partnership will make ESPN BET the sports betting partner for Monumental Sports' teams, including the Washington Capitals, Wizards, and Mystics [3] - The agreement includes various marketing components such as in-arena signage, out-of-home advertising, and unique hospitality experiences [4] - PENN's Chief Technology Officer highlighted the deal's potential to connect ESPN BET with a passionate sports community [5] Group 2: Growth and Market Expansion - In August 2023, PENN entered a transformative alliance with ESPN to rebrand its Barstool Sportsbook as ESPN BET, overseeing daily operations [5] - The launch of ESPN BET in New York in September 2024 significantly enhanced PENN's scale, leveraging ESPN's media reach for customer acquisition [6] - PENN's shares have increased by 6.8% over the past three months, outperforming the Zacks Gaming industry's growth of 4.1% [8]

Core Insights - Penn Entertainment shares experienced a surge following an upgrade from JPMorgan, which anticipates growth as the company's investments start to yield returns [1] - JPMorgan raised its rating for Penn from "neutral" to "overweight" and increased the price target from $19 to $27, indicating a potential upside of approximately 30% from the recent price of $20.81 [1] - Despite the recent gains, Penn shares have declined nearly 20% since the beginning of the year [1] Investment Outlook - Analysts expect Penn's investments in retail projects to start generating attractive double-digit cash-on-cash returns beginning in the second half of 2025 and into 2026 [1] - There is a projection of improving free cash flow due to a significant reduction in land-based capital expenditures anticipated in 2026 [1] - The company is expected to utilize its free cash flow to de-lever and reduce its cash interest expenses, alongside a noted decline in interactive gambling losses [1]

Company Overview - PENN Entertainment, Inc. operates 43 regional land-based casinos across the United States, covering the Northeast, South, West, and Midwest regions [1] - The company is actively pursuing opportunities in the online gambling market with the launch of ESPN Bet [1] Investment Strategy - The investment philosophy focuses on identifying mispriced securities by analyzing the drivers behind a company's financials, often revealed through a DCF model valuation [1] - This approach allows for a flexible investment strategy that encompasses traditional value, dividend, and growth investing, assessing all prospects of a stock to determine risk-to-reward [1]

PENN Entertainment, Inc. (PENN) reported a narrower-than-expected loss in third-quarter 2024 results. Meanwhile, the top line missed the Zacks Consensus Estimate but increased on a year-over-year basis.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.The company's performance was backed by better-than-expected results in its Interactive segment. Improved hold and a higher parlay mix contributed to this growth. Also, lower promotional expenses supported the upside. However, stable con ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number: 0-24206 PENN Entertainment, Inc. (Exact name of registrant as specified in its charter) ...

PENN Entertainment, Inc. (NASDAQ:PENN) Q3 2024 Earnings Conference Call November 7, 2024 9:00 AM ET Company Participants Joe Jaffoni - Investor Relations Jay Snowden - Chief Executive Officer & President Felicia Hendrix - Executive Vice President & Chief Financial Officer Todd George - Executive Vice President, Operations Aaron LaBerge - Chief Technology Officer Conference Call Participants Barry Jonas - Truist Securities Carlo Santarelli - Deutsche Bank Brandt Montour - Barclays Joe Greff - JPMorgan Joe St ...