Penn iCasino Revenue Rises 15%, Lifts Quarterly Sales

Penn Entertainment reported quarterly revenue that exceeded analyst forecasts after its iCasino revenue rose 15% year over year in the most recent quarter.

The company’s digital gaming business, which includes online slots and table games, provided a substantial portion of the revenue increase as customers shifted more spending to mobile and web platforms.

Headquartered in Wyomissing, Pennsylvania, Penn operates a portfolio of regional casinos and national online brands. The company has been expanding its digital footprint through iCasino and sportsbook offerings and positioning digital revenue alongside its brick-and-mortar properties.

The year-over-year gain in iCasino revenue outpaced growth in several land-based segments and helped offset weaker results at some retail properties. Company executives noted the contribution of the digital channel in delivering revenue above consensus estimates for the quarter.

More U.S. states have legalized regulated iGaming, expanding the addressable market for operators. Continued consumer adoption of mobile gaming products and promotional offers has supported online growth across multiple operators this year.

Penn has invested in technology and content partnerships to broaden its iCasino catalog and to cross-promote between online and retail businesses as it seeks to diversify revenue sources.