TLDR PENN Entertainment posted Q1 2026 revenue of $1.779 billion, beating the $1.745 billion consensus forecast, with adjusted EPS of $0.11 versus the $0.06 expected. The interactive segment generated $358.3 million in revenue, powered by roughly 15% year-over-year iCasino growth and record results in March. PENN is preparing to launch theScore Bet in Alberta, Canada, when the province opens its regulated online gambling market on July 13, 2026. The company’s Hollywood Casino Joliet in Illinois hit record slot and table volumes in Q1 after opening in August 2025. PENN has reduced net debt to $2.2 billion and holds total liquidity of $1.7 billion, including $708 million in cash.
PENN Entertainment reported first-quarter 2026 earnings that topped Wall Street expectations on both revenue and adjusted earnings per share. The results were released on April 23, 2026.
Total revenue came in at $1.779 billion for the quarter. That beat the consensus estimate of $1.745 billion and represented a 6.4% increase from $1.67 billion in Q1 2025.
The company reported a GAAP net loss of $2.8 million. However, adjusted EPS came in at $0.11, beating the $0.06 forecast by 83%.
Retail segment adjusted EBITDAR was $471.4 million, ahead of the $459 million street consensus. That translated to a 33.2% margin.
iCasino Growth Drives Interactive Segment Forward
The interactive segment brought in $358.3 million in revenue. That was driven by approximately 15% year-over-year growth in iCasino, with March delivering record monthly results.
The segment still reported an adjusted EBITDA loss of $10.8 million, slightly wider than the projected $8.3 million loss. But the figure represents a major improvement from the $89 million loss posted in the same quarter last year.
CEO Jay Snowden said the quarter marked the first full period under PENN’s realigned digital strategy. He pointed to standalone iCasino