PENN Entertainment Inc
PENN: XNAS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$31.00 | Kwpv | Bvwmsrmg |
Penn's ESPNBet Sport Betting App Facing Intense Competition in a Large and Growing Market
Business Strategy and Outlook
Penn Entertainment holds a leading omnichannel presence, which includes 43 physical casino assets, a digital portfolio encompassing an upgraded sports betting partnership with ESPN that launched Nov. 14, 2023, iGaming, media, and a loyalty membership base of over 29 million. As a result, we estimate Penn held around a 10% revenue share of the $66.5 billion domestic commercial casino gaming market in 2023.