Penn Entertainment's Jay Snowden pointed to “lower loss sequentially” coming every quarter in 2025 as well as better ways to “optimise spend” with ESPN in the company's quarterly earnings conference call. But Penn fell short of some expectations and beat others for the last quarter of 2024.
Saying once again on the company’s fourth-quarter earnings call on Thursday (27 February) that the future is bright, Penn’s CEO placed heavy focus on what is to come versus what has already happened Snowden said Penn is seeing “green shoots” throughout its departments while “we have more work to do to unlock the full potential and value of our partnership with ESPN”.
For digital gaming overall, the company reported revenue of $275 million (£218 million/€$264.7 million) for the fourth quarter. Its $109.8 million in adjusted EBITDA loss was a $224 million improvement compared to the same quarter for 2023, but those numbers still pulled down Penn’s overall performance and were below analys..
