PENN Entertainment, Inc. (NASDAQ:PENN) had a disappointing fourth quarter in 2023, reporting an EPS of $-2.37 compared to the expected $-0.57. Additionally, the company is not among the 30 most popular stocks among hedge funds.
During the Q4 earnings call on February 15, 2024, CEO Jay Snowden highlighted the company’s retail and digital Business performance, discussing the successful launch of ESPN BET in 17 states and the positive impact it had on customer acquisition and retention. Snowden also addressed the departure of the Levy family from PENN Interactive and expressed confidence in the company’s ability to continue its digital growth trajectory.
Overall, PENN Entertainment remains optimistic about its position in the industry and its strategic advantages, especially in the digital segment. Despite the challenges faced in the fourth quarter, the company sees promising opportunities ahead for long-term shareholder value.
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