Penn Entertainment reports Q1 adjusted EPS 11c, consensus 2c

Reports Q1 revenue $1.779B, consensus $1.75B. Jay Snowden, Chief Executive Officer and President, said: “We are pleased to report another solid quarter. Retail Segment Adjusted EBITDAR grew year-over-year and stable trends are carrying into April. In our Interactive segment, continued online casino growth combined with positive trends in Ontario are driving momentum as we prepare for the anticipated July 13 launch of regulated iCasino and online sports betting in Alberta1. Importantly, we are executing on the plan we outlined last quarter, driving Retail and Interactive growth, optimizing corporate overhead, making disciplined capital investments, and continuing to delever.”