Penn Entertainment Inc. (PENN) plunged 5.05% in the pre-market trading session on Thursday, following the release of its fourth-quarter 2024 financial results.
The casino operator reported a wider-than-expected loss for the quarter, with adjusted earnings per share (EPS) coming in at a loss of $0.44, missing analysts' estimates of a loss of $0.38. Additionally, the company's revenue fell short of expectations, reaching $1.67 billion, compared to the consensus estimate of $1.68 billion.
The disappointing results were primarily attributed to the continued underperformance of Penn Entertainment's interactive segment, which encompasses its online casino and sports betting operations. This segment has been a persistent source of losses for the company, weighing on its overall financial performance.
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