theScore Bet Drives Strong Q4 Growth for Penn Entertainment
CEO and President Jay Snowden said the performance of Penn’s Hollywood Casino app, alongside cross-sell activity, contributed to a 52 per cent year-on-year rise in Q4 Interactive revenue to $398.7m.
Penn Entertainment’s rebranded online sportsbook, theScore Bet, made a strong impact in Q4, helping to deliver record growth across the operator’s Interactive segment.
CEO and President Jay Snowden said the performance of Penn’s Hollywood Casino app, alongside cross-sell activity, contributed to a 52 per cent year-on-year rise in Q4 Interactive revenue to $398.7m.
This included 40 per cent growth in iCasino and a 73 per cent increase in online sportsbook revenue, supported by “strong revenue and adjusted EBITDA performance in December” — the first full month that theScore Bet was live following the early conclusion of Penn’s ESPN Bet venture.
For the full year, Interactive segment revenues increased from $959.9m to $1.3bn.
Within the retail and land-based casino division, Q4 revenue rose from $1.67bn to $1.8bn, while full-year revenue edged up from $6.6bn to $6.96bn.
Interactive adjusted EBITDA remained negative in Q4 and across the full year; however, losses narrowed to $39.9m for the quarter and $267.5m for the year.
