PENN Entertainment, one of the largest gaming providers in North America, published its first quarter financial results for the first three months of the year, ending on March 31.
Zacks Investment Research analysts also predicted the revenue of the company at $1.63 billion. Thursday’s results revealed that the revenue was slightly lower, at $1.61 billion in the three month period. “Across the portfolio, we continue to capitalize on cross-sell opportunities from our retail sportsbooks, which has helped sustain our momentum in our Ohio properties and re-energize properties such as Plainridge Park in Massachusetts and Hollywood Casino at Kansas Speedway," a spokesperson for PENN Entertainment said."And with winter now behind us, we are seeing great progress with our four growth projects, all of which remain on budget and on schedule.
ESPN BET-owner PENN says it"released parlay repricing functionality to account for parlay bet legs that push or void" during the first quarter of 2024. That was a pain point for bettors who, say, hit 3/4 legs of parlay, but then fourth would void and the whole wager would void.
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