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In 2023, we have numerous near-term growth opportunities, including the transition of the Barstool Sportsbook to our own proprietary technology platform in the U.S. The quarter ended on a high note with strong performance between Christmas and New Year’s across the portfolio, which has continued through January. Importantly, we also achieved profitability in our Interactive segment notwithstanding an unfavorable sports betting outcome in the World Series. Fourth quarter revenues of $1.6 billion and Adjusted EBITDAR of $468.3 million were impacted by severe weather in certain parts of the country in December. We remained focused on executing our leading omni-channel strategy, which drove database growth and further engagement with our expanding 21-44 year old cohort. I’m proud of PENN’s numerous financial and operational achievements in the past year as well as our continued progress on the ESG front.

Jay Snowden, Chief Executive Officer and President, commented: “2022 was a solid year for PENN despite ongoing macroeconomic headwinds.

Initiates 2023 Guidance – Full Year Revenue Range of $6.15 billion to $6.58 billion and Adjusted EBITDAR Range of $1.875 billion to $2.0 billionįor further information, the Company has posted a presentation to its website regarding the fourth quarter highlights and accomplishments, which can be found here.

Repurchased $91.0 million of Common Stock at an Average Price of $31.69 Under the February 2022 Share Repurchase Authorization.

Interactive Segment Achieves Profitable Quarter.

Strong Conclusion to Fourth Quarter Retail Operations Momentum Continues Into January.

Omni-Channel, Tech-Forward Engagement Delivering Tangible Benefits.

Adjusted EBITDAR margins of 29.5%, a decline of 110bps year-over-year.

Adjusted EBITDA of $438.3 million an increase of 18.8% year-over-year and.

Adjusted EBITDAR of $468.3 million, a decrease of 2.5% year-over-year.

Net income of $20.8 million and net income margin of 1.3%, as compared to net income of $44.8 million and net income margin of 2.8% in the prior year.

Revenues of $1.6 billion, an increase of 0.8% year-over-year.

(“PENN” or the “Company”) (Nasdaq: PENN) today reported financial results for the three months and year ended December 31, 2022.

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