Penn Entertainment Inc


SKU: PENN Category:


This is our first report on entertainment major, Penn National Gaming. The company’s Q3 results demonstrated a stable property-level performance, reflecting strong customer behavior and continued growth in spend per visit trends which offset softness in the unrated business in the South region and the impact of major road construction projects. The company generated revenues of $1.62 billion and an adjusted EBITDAR of $445.1 million in the third quarter. Moreover, the company has successfully dealt with the increased supply in several markets. The diversified geographical portfolio, ongoing property investments and retail sports betting offerings contributed to the overall stability of the company’s operations and performance.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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