(AsiaGameHub) – Penn Entertainment‘s share price jumped more than 11% after the firm released its Q1 results last week. The company recorded significant growth from its online casino segment, and is focusing on leveraging its land-based properties to promote its digital division.
In-person retail operations still make up the majority of Penn’s revenue. The company’s 42 properties across 19 U.S. states generated $1.4 billion, a 2.8% increase compared to Q1 2025. Thirty of these venues are located in states that offer either online sports betting or iGaming.
While announcing the results, CEO Jay Snowden said he expects the company’s digital segment to turn profitable by the end of the year.
Online Casinos Post Record Revenue
Penn’s interactive segment generated $172.5 million, up from $161.9 million in the same period one year prior. Online casinos were the main driver of this growth, with revenue rising 15% from Q1 2025.
Snowden noted that Hollywood Casino‘s standalone app has “really good momentum.” Penn launched the platform in Pennsylvania in December 2024, before expanding the service to Michigan. The company is using its brick-and-mortar Hollywood Casino locations in these states to promote the brand.
Converting existing in-person casino customers and retail sports bettors into online casino players is a core company strategy. Snowden shared that 60% of its online casino customers were originally sports betting users.
New Casino Developments Deliver Strong Results
Hollywood Casino will also open a new property in Aurora this coming June. Last year, the company redeveloped its Hollywood Joliet location, converting it from a riverboat casino into a full-scale casino resort. The updated location hit record revenue levels in Q1.
Snowden said the company remains “excited about the anticipated returns on our development project investments based on the success to date from our recent openings at Hollywood Casino Joliet and M Resort.”
M Resort Hotel Tower opened at the company’s Nevada property this past December, wrapping up a $206 million expansion project. Just like the Joliet casino, it posted record revenue in this year’s first quarter.
theScore Aims for Alberta Launch
In Canada, theScore is Penn’s flagship brand, and since the wind-down of ESPN Bet, it has also expanded its presence across the U.S. once again.
Alberta will launch its regulated gambling market later this year, and Penn hopes to capture a substantial share of the new market.
“Look, we’ve already launched in Ontario and we hold a very strong market share there today,” Chief Technology Officer Aaron LaBerge stated. “It’s a core part of our gaming business, and we expect to achieve similar market share in Alberta based on the investments we’re making ahead of launch.”
The company confirmed it is investing around $20 million in customer acquisition for the Alberta market. After shifting to its simplified business strategy, Penn’s stock price now sits at $17.24, back to the level it was at in October of last year.
The company still has a long way to go to recoup the billions of dollars it invested in Barstool Sports and ESPN Bet, but there are clear signs that it is now moving in the right direction.
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