Track market-moving stories before they get noisy

Vornado scored a 38,000-square-foot expansion at PENN 1 by payroll and HR management platform Gusto, which brought the redesigned tower to over 90% leased. The asking rent was $135 per square foot, sources said.

But while Gusto’s move is relatively modest, it’s revealing to hear Vornado chairman Steve Roth’s comments in the company’s second-quarter earnings call.

PENN1 is more than 90% leased after payroll and HR management platform Gusto signed a lease for 38,000 square feet. Matthew McDermott Vornado leased 978,000 square feet of Manhattan offices in the year’s first half, Roth said — most with an average starting rent of $105 per square foot.

He declared a “victory lap” for both PENN 1 and sister property PENN 2 across from Madison Square Garden. 

At  PENN 1, “broadly speaking, we invested $200 per square foot to achieve a $50 a foot uptick in rents, which when all gets said and done, is a 25% return,” Roth said.

Vornado spent $450 million to turn the once obsolescent building into a sparkling, 2.5 million square-foot trophy with a dramatic new glass curtain wall.

For the quarter ended June 2026, PENN Entertainment (PENN - Free Report) reported revenue of $1.86 billion, up 5.2% over the same period last year. EPS came in at $0.44, compared to $0.10 in the year-ago quarter.

The reported revenue represents a surprise of +0.06% over the Zacks Consensus Estimate of $1.86 billion. With the consensus EPS estimate being $0.35, the EPS surprise was +25.71%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how PENN Entertainment performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Revenues- Northeast segment: $731.6 million versus $724.73 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +2.8% change.Revenues- South segment: $301.9 million versus $300.52 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -0.1% change.Revenues- Interactive segment: $349.4 million versus the three-analyst average estimate of $380.18 million. The reported number represents a year-over-year change of +10.5%.Revenues- Midwest segment: $320.6 million compared to the $315.77 million average estimate based on three analysts. The reported number represents a change of +8% year over year.Revenues- West segment: $151.5 million compared to the $147.66 million average estimate based on three analysts. The reported number represents a change of +10% year over year.View all Key Company Metrics for PENN Entertainment here>>>

Shares of PENN Entertainment have returned -2.5% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.

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- Expands PENN's Canadian online gaming footprint, bringing premier sportsbook and online casino experiences to players across Alberta -

TORONTO & WYOMISSING, Pa.--(BUSINESS WIRE)--PENN Entertainment (Nasdaq: PENN) (“PENN” or the “Company”) today announced the launch of theScore Bet Sportsbook & Casino in Alberta, as well as theScore Casino and Hollywood Casino standalone apps, further expanding the Company’s Canadian online gaming footprint and bringing its leading digital gaming brands to players across the province. These apps are now available across Alberta on iOS, Android, and are also available on the web.

The Alberta launch marks the next chapter in theScore Bet’s continued growth in Canada, building on its success in Ontario. Players in Alberta can now enjoy the uniquely integrated sports media and betting experience from two of Canada’s most trusted brands, theScore and theScore Bet, bringing live scores, news, stats and betting together in one connected ecosystem.

In addition to sports betting, theScore Bet Sportsbook & Casino gives Alberta players access to a comprehensive online casino experience featuring hundreds of slots, table games, live dealer experiences and exclusive games, including Blue Jays Blackjack.

Complementing theScore Bet Sportsbook & Casino experience, PENN is also launching standalone Hollywood Casino and theScore Casino apps in Alberta. Hollywood Casino, a popular online and retail casino brand, delivers a casino-first experience featuring an extensive portfolio of slots, table games and live dealer content. For players who prefer a dedicated casino app, theScore Casino offers the same premium gaming experience, providing additional choice alongside the all-in-one theScore Bet Sportsbook & Casino app.

“Alberta has an incredible sports culture, and we’re excited to bring theScore Bet Sportsbook & Casino to players across the province,” said Aaron LaBerge, Chief Technology Officer and Head of Interactive at PENN Entertainment. “Fans already know and trust theScore, and with theScore Bet, we’re extending that connection into a seamless sportsbook and casino experience. Whether you’re following your favorite team, placing a bet, or enjoying casino games, we’ve built the experience around the way fans naturally engage with sports. We commend the Alberta government for introducing a regulated online gaming market for private operators and look forward to serving fans in one of Canada’s great sports markets.”

As Canada’s sportsbook, theScore Bet is proud to partner with Canada’s most iconic sports organizations as the exclusive official gaming partner of the Toronto Blue Jays, the exclusive gaming partner of Golf Canada and an official gaming partner of the NHL and PGA Tour.

Alberta customers can now enjoy:

Same Game Parlays, player props and live, in-game betting. Seamless betting integration with theScore's trusted sports news, scores and data. Hollywood Casino's extensive portfolio of slots, table games and live dealer experiences, including Blue Jays Blackjack, the Dancing Drums series, and Sweet Bonanza series. To celebrate the launch, theScore Bet is introducing a series of fan experiences throughout the summer, including its popular Toronto Blue Jays Jersey Swap event. Additional details are available at theScore.bet/alberta.

About theScore Bet Sportsbook, theScore Casino & Hollywood Casino
theScore Bet Sportsbook & Casino, theScore Casino and Hollywood Casino are PENN Entertainment's leading online gaming brands in Canada, offering premium sports betting and online casino experiences powered by PENN's proprietary technology platform. theScore Bet Sportsbook & Casino uniquely integrates with theScore to deliver a connected sports media and betting experience, while Hollywood Casino and theScore Casino provide players with a comprehensive portfolio of slots, table games, live dealer experiences and exclusive content.

About PENN Entertainment, Inc.
PENN Entertainment, Inc., together with its subsidiaries (“PENN,” or the “Company,” “we,” “our,” or “us”), operates in 28 jurisdictions throughout North America, with a broadly diversified portfolio of casinos, racetracks, and online sports betting and iCasino offerings. PENN’s focus is on organic cross-sell opportunities, reinforced by its market-leading retail casinos, sports media assets and technology, including a proprietary state-of-the-art, fully integrated digital sports betting and iCasino platform, and an in-house iCasino content studio. The Company’s portfolio is further bolstered by its industry-leading PENN Play™ customer loyalty program, offering its approximately 34 million members a unique set of rewards and experiences.

Forward Looking Statement

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward-looking terminology such as “expects,” “believes,” “estimates,” “projects,” “intends,” “plans,” “goal,” “seeks,” “may,” “will,” “should,” “look forward to,” or “anticipates” or the negative or other variations of these or similar words, or by discussions of future events, strategies or risks and uncertainties. These statements are based upon management's current expectations, assumptions and estimates and are not guarantees of timing, future results, or performance. Therefore, you should not rely on any of these forward-looking statements as predictions of future events. Actual results may differ materially from those contemplated in these statements due to a variety of risks, uncertainties and other factors, including those factors described in PENN Entertainment’s filings with the Securities and Exchange Commission (the “SEC”), including PENN Entertainment's current reports on Form 8-K, quarterly reports on Form 10-Q and its annual report on Form 10-K for the year ended December 31, 2025. Forward-looking statements speak only as of the date they are made and, except for PENN Entertainment’s ongoing obligations under the U.S. federal securities laws, PENN Entertainment undertakes no obligation to publicly update any forward-looking statements whether as a result of new information, future events or otherwise.

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Stock to Watch: PENN Entertainment (PENN - Free Report) PENN Entertainment, Inc. was incorporated in Pennsylvania in 1982 as PNRC Corp. The company adopted its current name in 1994 when it became publicly traded. PENN Entertainment is a multi-jurisdictional owner and operator of gaming and racing facilities with video gaming terminal operations and a focus on slot machine entertainment. The company’s portfolio is geographically diverse and includes a broad set of regional properties.

PENN is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.

It also boasts a Value Style Score of A thanks to attractive valuation metrics like a forward P/E ratio of 16.05; value investors should take notice.

Two analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.06 to $1.32 per share. PENN boasts an average earnings surprise of +120.1%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, PENN should be on investors' short list.