PENN Entertainment reported a slight miss on Q3 earnings, but revenue saw a modest increase. The company highlighted ongoing investments in digital and physical upgrades, including its ESPN BET platform and hotel renovations. Despite some headwinds in certain regions, PENN remains focused on expanding its interactive offerings and anticipates a strong finish to the year.
PENN Entertainment exceeded expectations with its preliminary third-quarter results, highlighted by strong performance in its interactive segment. The company’s recent product improvements and reduced promotional expenses are driving growth, particularly in the sports betting and media space. The upcoming integration with ESPN in November is expected to be a major catalyst for customer acquisition and engagement.
Penn Entertainment’s shares rose on Tuesday after the company announced improved guidance for its retail operations and interactive segment. The company anticipates strong third-quarter earnings, driven by enhanced product offerings and reduced promotional expenses. Analyst Bernie McTernan maintains a Buy rating on Penn Entertainment.
PENN Entertainment, Inc. (PENN) has faced challenges in recent months, leading to a decline in its stock price. While the company is making progress through various initiatives, concerns remain about its performance in certain segments and cost pressures. However, PENN’s robust gaming performance, emphasis on sports betting, and key property growth are positive indicators for the future. This article analyzes the current situation and provides insights into whether it’s the right time to buy, sell, or hold PENN stock.
Aaron LaBerge, former Chief Technology Officer at Disney Entertainment and ESPN, has decided to leave the company to join the team at Penn Entertainment. He will be aiding Penn’s technology strategy in their interactive division. LaBerge not only contributed to getting ESPN+ off the ground but also helped with the streaming service joint venture with Fox and Warner Bros. Discovery.
Aaron LaBerge, a former executive at Disney with 20 years of experience, has left the company to join Penn Entertainment as its new Chief Technology Officer. LaBerge will oversee the technology and interactive division at Penn, known for its gaming operations and recent partnership with ESPN for the ESPN Bet sportsbook. During his time at Disney, LaBerge played a crucial role in product rollouts, including the integration of Hulu into Disney+ and the upcoming launch of an ESPN streaming app. He also managed a team of engineers, designers, and other technologists responsible for some of the world’s most renowned media properties.
Aaron LaBerge, Chief Technology Officer for Disney Entertainment and ESPN, has announced his departure from the company to join PENN Entertainment as Chief Technology Officer. LaBerge’s departure is part of a series of executive departures from Disney in recent years. He will remain with Disney until June for personal reasons related to his family.
