Penn National Gaming revenue for the 1st quarter; Portnoy On Penn Stock and Politics

This was reported by Penn National Gaming Revenues for the 1st quarter of 2022 May 5. It boasted a casino and sports betting company based in Wyoming record revenue for the first quarter. However, $ PENN is a quarterly profit $ 0.29 per share missed Sachs ’consensus estimate of $ 0.45 per share.

Demand trends in the 1st quarter of 2022 continue in the second quarter CEO Jay Snowden is optimistic, especially in light of recent discoveries Pennsylvania Casino.

“We continue to encourage young people to visit, and we are focused on further rethinking our facilities and offerings to increase the attractiveness of entertainment for this ever-growing consumer segment,” Snowden said. “Our database grew in all valuable segments by 14%, an increase of 28% over the same period last year in our VIP segment and 11% in our main segments, thanks to our new online and retail offers from sports bookmakers and our recently opened Hollywood York Casino and Morgantown Casino in Pennsylvania. ”

Highlights of Penn National Gaming in the first quarter of 2022

  • Record revenue of $ 1.56 billion, up 23% from the same period last year.
  • The Northeast segment became the revenue leader with $ 658.5 million.
  • IGaming’s revenue was $ 141.5 million.

Presentation of earnings for the first quarter highlights:

  • Digital registration in the mychoice app has increased by more than 1 million.
  • Increase the table of theo (expected home winnings) aged 21-44 by 53% year on year in facilities with retail bookmakers.
  • Sports bookmaker and casino Barstool received a rating of 4.8 out of 5 stars in the App Store, which ranks first in programs for sports betting.
  • New in-app payment methods, MasterCard and Apple Pay, will be available in the second quarter of 2022.

Penn National Gaming in Pennsylvania

Penn National Gaming operates 44 casinos in the United States and Canada. He also owns a 36% stake in Barstool Sports. In Pennsylvania, Penn National operates:

  • Hollywood Casino at Penn National Racecourse
  • Hollywood Casino in Meadows
  • Two mini-casinos: in August 2021 Hollywood Casino York opened and then Hollywood Casino Morgantown in December 2022.

Sports bookmaker for bar stool and online casino live in Pennsylvania. In March, Barstool PA online bookmaker took fourth place for processing and income.

Tailor about $ PENN shares, politics and the right to abortion

Portnoy is widely present on social networking platforms and has over 2.7 million Twitter followers. Penn National Gaming has repeatedly stated that it will not engage in large advertising costs to attract customers as their competitors. But instead they are rely on Barstole’s personality, predominantly Tailorto increase brand awareness and loyalty.

The Revenue data for the 4th quarter of 2021 started with Snowden’s defense Founder of Barstool Dave Tailor over allegations of sexual abuse in a story from Business Insider. Tailor was mentioned only a few times during a call on Thursday in the first quarter in the context of how Penn National uses him and Dan “Big Cat” Katz as content creators instead of spending on marketing like competitors.

24 hours before Penn’s arrival in the first quarter, Tailor’s most liked tweet was:

Partnoy also expressed his thoughts abortion and Rowe v. Wade on “Dave Tailor’s Show with Eddie and Co.” May 3. One minute The clip was posted on Twitter from Barstool blogger Uncle Chaps on May 4th and May 825 thousand views.

Comments by Penn CEO Jay Snowden

About the opening of the Hollywood Casinos York and Morgantown in addition to the flagship casino Hollywood Casino on the Penn National Racing Ground:

“Our teams in Central Pennsylvania successfully opened two new facilities last year and did an excellent job of expanding the overall database for the company and ensuring that we review all three businesses and our results there gradually. Cannibalism in the Central PA was minimal, and the early combined results were encouraging. ”

The growth of iGaming

“We believe that our differentiated approach will benefit us in the future as the relationships we have and continue to build with our customers are based on providing excellent products and customer service, integrating media, branded events and promotions, and direct connections with our users through live broadcasts and social media participation through our content creators led by Dave Tailor and Big Cat. We are not in the lead with discounts. These benefits have already proven themselves in real time and will give, in our opinion, the best in its class profits in the long run.

Net income from Penn National Gaming games

Snowden reiterated that Penn National believes net profit from games (NGR) is a more relevant indicator of online bookmakers ’performance than handle market share because that revenue is greatly diluted by marketing and advertising costs. Instead, he wants the online betting game Barstool to be measured by NGR.

Barstool PA Sportsbook in March

  • Revenue: $ 2.7 million
  • Promotional loans: $ 1 million
  • NGR: $ 1.6 million

Bar stool in February 2022:

  • Revenue: $ 1.9 million
  • Promo credits: $ 859,553
  • NGR: $ 1.1 million

Bar stool in January 2022:

  • Revenue: $ 3.3 million
  • Promotional loans: $ 1.7 million
  • NGR: $ 1.5 million

Lead image c / o Shutterstock

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