PENN Entertainment Inc (NASDAQ: PENN) is a gaming and entertainment company that operates retail casinos and digital gambling products across North America. Revenue comes from gaming activity at physical casino properties and from online sports betting and iCasino products, including theScore Bet and Hollywood iCasino platforms. PENN also operates a media business built around theScore, a sports media property acquired to support user acquisition and engagement for its digital betting products. The company's digital segment represents a strategic expansion beyond its legacy brick-and-mortar casino portfolio. PENN filed its 10-K for the fiscal year ended in early 2026, with the annual report filed February 26, 2026 (accession 000092173826000008). The filing identifies retail gaming, interactive/digital betting, and sports media as the core operating areas. Capital deployment has been directed toward integrating theScore and growing digital monetization alongside the physical property base.

Revenue model

PENN generates revenue through gaming hold at retail casino properties, net gaming revenue from online sports betting (theScore Bet) and iCasino (Hollywood iCasino), and monetization of its sports media platform (theScore). The business is transactional at the property level and wager-based in digital channels.

Products and services

Retail casino properties, theScore Bet online sportsbook, Hollywood iCasino online casino, theScore sports media platform.

Customers and end markets

Retail casino patrons and online sports bettors and iCasino players in regulated North American markets. Sports media users engaged through theScore app feed the digital betting funnel.

Value-chain role

End-to-end gaming operator: owns and operates physical casino venues, licenses and operates online sportsbook and iCasino products, and owns a consumer sports media brand used for customer acquisition.

Geographic exposure

North America, with retail casino properties across multiple U.S. states and digital operations in regulated U.S. states and Canada through theScore Bet.

Source: SEC 10-K, filed 2026-02-26

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