Every material Form 8-K Penn Entertainment filed with the SEC in 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
PENN Entertainment and ESPN agreed to end their sportsbook agreement early, effective December 1, 2025, with PENN paying ESPN $38.1 million in the fourth quarter of 2025 and $5 million after the termination date. In third-quarter results, revenue rose to $1.7 billion from $1.6 billion, but the net loss widened to $865.1 million from $37.5 million, driven by an $825.0 million impairment loss tied to the Interactive segment. The board also approved a new $750 million share repurchase program covering January 1, 2026 through December 31, 2028.
ESPN sportsbook agreement terminates December 1, 2025; PENN pays ESPN $38.1 million in Q4 2025 plus $5 million after the termination date, and its sportsbook will be rebranded theScore Bet.
Q3 2025 net loss of $865.1 million, or $6.03 per diluted share, versus a net loss of $37.5 million, or $0.24 per share, a year earlier; includes an $825.0 million impairment loss.
Q3 revenue of $1,717.3 million vs $1,639.2 million; Consolidated Adjusted EBITDA of $194.9 million vs $193.5 million; Adjusted EPS of $(0.22) vs $(0.25).
Board approved a $750 million share repurchase program on October 30, 2025, running January 1, 2026 through December 31, 2028.
PENN Entertainment reported results for the three months ended June 30, 2025, with revenue of $1,765.0 million, up from $1,663.0 million a year earlier. The net loss narrowed to $18.3 million from $27.1 million, and Adjusted EPS was $0.10 compared with a loss of $0.18 a year earlier, so the headline measures improved for shareholders. The filing does not include updated full-year guidance.
Q2 2025 revenues of $1,765.0 million vs. $1,663.0 million in Q2 2024
Net loss of $18.3 million, or $(0.12) per diluted share, vs. $27.1 million, or $(0.18), a year earlier
Adjusted EPS of $0.10 vs. $(0.18); GAAP results include a $15.0 million impairment loss
Share repurchases of $115.3 million through August 6, 2025, with a stated goal of at least $350 million for 2025
PENN Entertainment reported first-quarter 2025 revenue of $1,672.5 million, up from $1,606.9 million a year earlier, and net income of $111.5 million, compared with a net loss of $114.9 million in the prior-year quarter. The result includes a $215.1 million gain on a financing arrangement, and Adjusted EPS was still negative at $(0.25). Shareholders also get an update on buybacks: $35 million repurchased through May 7, 2025, with the company reiterating its goal to repurchase at least $350 million of shares this year.
Revenue of $1,672.5 million for the quarter ended March 31, 2025, versus $1,606.9 million in the prior-year quarter
Diluted EPS of $0.68 versus a loss of $0.76; Adjusted EPS of $(0.25) versus $(0.79)
Adjusted EBITDA of $173.3 million versus $101.4 million; Interactive segment revenue of $290.1 million versus $207.7 million
Repurchased $35 million of shares through May 7, 2025; goal of at least $350 million of repurchases this year reiterated
PENN Entertainment said director Ronald J. Naples resigned from its board effective April 25, 2025, and directors Barbara Shattuck Kohn and Saul Reibstein will not stand for reelection at the 2025 Annual Meeting. The board intends to nominate Johnny Hartnett and Carlos Ruisanchez for the two open Class II seats, after the company said it was unable to reach an agreement with activist shareholder HG Vora Capital Management.
Ronald J. Naples resigned from the board effective April 25, 2025 and was appointed a director emeritus until January 3, 2026.
Barbara Shattuck Kohn and Saul Reibstein will not stand for reelection at the 2025 Annual Meeting, which is scheduled for June 17, 2025.
The board was reduced from nine to eight members, and it intends to nominate Johnny Hartnett and Carlos Ruisanchez for election.
The company says it offered to appoint both nominees immediately as part of a settlement with HG Vora, which rejected the proposal.
PENN Entertainment reported fourth-quarter 2024 revenue of $1,669.0 million, up from $1,395.4 million a year earlier, and a net loss of $133.8 million, narrowed from $358.8 million. The company also said it intends to repurchase at least $350 million of shares in 2025, which matters to shareholders because it signals a large capital return alongside improved results.
Q4 2024 diluted loss per share was $(0.88), compared with $(2.37) in Q4 2023.
Adjusted EBITDA was $165.2 million, compared with a loss of $(39.6) million in the prior-year quarter.
Interactive segment revenue was $275.0 million, compared with $31.5 million a year earlier, including a tax gross-up of $132.8 million.
Full-year 2024 net loss was $313.3 million, compared with $491.4 million in 2023.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Penn Entertainment filing is on SEC EDGAR ↗. 8-K briefs of other companies →