• Loading stock data...
Friday, July 18, 2025

Sports Betting Boosts Penn National to Record Quarter

  • The Pennsylvania-based casino and gaming company generated $1.6 billion in revenue in Q1 2022.
  • The record quarter included growth in the company’s Interactive segment, which includes Barstool Sportsbook and theScore Bet.
Barstool Sportsbook is owned by Penn Entertainment.
Paul Kuehnel via Imagn

Penn National Gaming announced record quarterly results in its latest earnings report on Thursday. 

The Pennsylvania-based casino and gaming company generated $1.6 billion in revenue in Q1 2022, a 23% increase year-over-year. The record quarter included growth in the company’s Interactive segment, which includes Barstool Sportsbook, theScore Bet, and iGaming

  • The Interactive segment pocketed $142 million in Q1, up from $86 million in Q1 2021.
  • Penn National projects full-year revenue to range between $6.15 billion and $6.55 billion.
  • The company repurchased 3.8 million shares of common stock in Q1 for $175 million. 

Penn National has steadily increased its market position in sports, media, and betting. In January 2020, the company purchased a 36% stake in Barstool Sports at a $450 million valuation. Penn National plans to acquire the remaining stake in 2023. 

In October 2021, Penn National acquired Score Media and Gaming — operator of theScore — for $2 billion. The deal established a presence in Canada for Penn National, and the company expanded its reach there on April 4 with the launch of mobile sports betting in Ontario. 

Missed Opportunity 

Penn National missed an opportunity to take advantage of the largest sports betting market in the U.S. New York launched mobile sports betting on Jan. 8, and in the first month handled more than $1.62 billion — topping the single-month record for any state.

Penn National, along with Fanatics, Fox Bet, and bet365, were among operators who weren’t approved for licenses in the state.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Barstool-Fox Deal Shows NFL’s Portnoy Cold War Is Thawing

The Barstool-Fox alliance is a signal of how times have changed.
Barstool Sports founder Dave Portnoy looks up at the scoreboard Saturday, May 17, 2025, during a game between the Indiana Fever and the Chicago Sky at Gainbridge Fieldhouse in Indianapolis. The Indiana Fever defeated the Chicago Sky, 93-58.

Barstool’s Dave Portnoy Announces Fox Sports Deal

FS1 canceled “Breakfast Ball,” “The Facility,” and “Speak” this week.
exclusive

Fox Sports Nearing Deal for Dave Portnoy on ‘Big Noon,’ Barstool on..

Barstool content could fill some FS1 airtime vacated by three canceled shows.

Murphy: Club WC Snags Won’t Derail Biggest Event ‘in Human History’

New Jersey’s MetLife Stadium is the concluding site of both FIFA events.

Featured Today

Jul 21, 2024; Ayrshire, SCT; Xander Schauffele celebrates with Claret Jug after winning the Open Championship golf tournament at Royal Troon.

The Boozy History and Traditions of The Open’s Claret Jug

The Open awards the world’s most famous wine decanter.
2025 PDC World Darts Championship Final - Luke Littler vs Michael Van Gerwen
July 16, 2025

A Teen Darts Prodigy Is Becoming Bigger Than the Game Itself

Luke ‘The Nuke’ Littler is cashing in on his devastatingly accurate shot.
May 31, 2025; Philadelphia, PA, USA; Sydney McLaughin-Levrone (USA) reacts before the women's 100m hurdles during the Grand Slam Track Philadelphia at Franklin Field
exclusive
July 13, 2025

Track’s New Money Is Running Into Old Problems

The sport’s big-money era has hit some speed bumps in 2025.
Bobbleheads are seen at Vintage Indy Sports, Tuesday, April 29, 2025 in Speedway. The local sports memorabilia store opened recently.
July 12, 2025

Baseball’s Bobbleheads Are the Center of the Collectibles Universe

Baseball’s most important keepsake drives long lines—and big business.
Jun 9, 2025; Cleveland, Ohio, USA; Cleveland Guardians starting pitcher Luis Ortiz (45) reacts after giving up a home run during the fourth inning against the Cincinnati Reds at Progressive Field.

MLB Pitcher’s Paid Leave Extended Through August As Betting Probe Continues

Leagues have been dealing with a host of sports betting issues.
The Department of Justice logo on a podium at the Louisville, Kentucky office. July 1, 2025
July 16, 2025

Prediction Market Platform Polymarket Says It Escaped Federal Probe

Prediction markets are having a moment.
Mar 31, 2025; Washington, District of Columbia, USA; Miami Heat guard Terry Rozier (2) drives to the basket against Washington Wizards guard AJ Johnson (5) during the first quarter at Capital One Arena.
July 16, 2025

Terry Rozier’s Attorney Confirms He’s Still Under Federal Gambling Probe

Rozier finished the season playing for the Heat despite the federal probe.
Sponsored

Game On: Portfolio Players Stories, Brought to You by E*TRADE from Morgan Stanley

Dealmaker Jeffrey Kaplan maps the evolution of sports as an asset class
DraftKings
exclusive
July 14, 2025

DraftKings in Talks to Acquire Prediction Market Railbird Exchange

Sportsbooks and prediction markets are becoming increasingly intertwined.
A view of the FanDuel Sportsbook betting area at Belterra Park Cincinnati.
July 11, 2025

Flutter Acquires Full Ownership of FanDuel in $1.75B Deal With Boyd Gaming

FanDuel just got a $31 billion price tag.
Mar 16, 2024; Las Vegas, NV, USA; The BetMGM Sportsbook at the Mandalay Bay resort and casino.
July 11, 2025

Support Grows to Repeal Gambling Tax in Trump Budget Bill

A new bill has been introduced in the Senate.
July 8, 2025

Betway Parent to Complete U.S. Exodus, Blames Tax Volatility

“Recent regulatory developments” were cited.