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PENN Entertainment: Record $1.5 Billion Retail Revenue Sparks A Pivotal Reset!

PENN Entertainment reported second quarter 2026 results marked by continued growth in its retail segment, further improvements in its Interactive division, and ongoing progress in balance sheet deleveraging. The company achieved record quarterly retail revenues of $1.5 billion and adjusted EBITDAR of $517.2 million, reflecting year-over-year increases of approximately 4% and 6%, respectively. Importantly, these gains were supported by same-store growth and significant contributions from four recently completed development projects, including new hotel towers and property relocations. The retail segment showed improved adjusted EBITDA margins of 34.4%, benefiting from cost management efforts across labor, marketing, and general administrative expenses. Guidance was raised for full-year 2026 retail revenues to a midpoint of $5.87 billion and adjusted EBITDAR to $1.963 billion, implying mid-single-digit growth and approximately a 50 basis point margin expansion in the second half of the year. The Interactive segment generated revenues of $349.