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$PENN Q4 -- results
- Revs down 23% YOY to $1.03B -- misses by 4%
-- "trended ahead of forecast pre pandemic-related closures"
- 35.5% EBITDA margin -- +570 bps YOY
- $13M in net income vs. -$93M YOY
- 11.6% op margin +1060 bps YOY
- $577M in net debt vs. $1.9B YOY
- Revs down 23% YOY to $1.03B -- misses by 4%
-- "trended ahead of forecast pre pandemic-related closures"
- 35.5% EBITDA margin -- +570 bps YOY
- $13M in net income vs. -$93M YOY
- 11.6% op margin +1060 bps YOY
- $577M in net debt vs. $1.9B YOY
$PENN Q4 -- @BSSportsbook
- Growing Pennsylvania share (see image)
- Excelling in Michigan -- 48K users in 10 days (see other image)
- Will be live in 10+ states in 2021
- 15% of Mich users convert to $PENN loyalty program already
& again.. 0 external marketing spend.
- Growing Pennsylvania share (see image)
- Excelling in Michigan -- 48K users in 10 days (see other image)
- Will be live in 10+ states in 2021
- 15% of Mich users convert to $PENN loyalty program already
& again.. 0 external marketing spend.
$PENN Q4 -- Barstool omni-channel impact
In the week following Barstool re-brand at its East Chicago Property:
- +35% betting handle
- +27% table volume
- +26% slots volume
In the week following Barstool re-brand at its East Chicago Property:
- +35% betting handle
- +27% table volume
- +26% slots volume
$PENN Q4 -- Barstool
"Barstool continues to grow profitably through ads, licensing & merch sales. We view Barstool as a fantastic channel to promote our offerings & also an undervalued media asset."
Barstool posts record revs & EBITDA in 2020 despite sports halted.
I am long!
"Barstool continues to grow profitably through ads, licensing & merch sales. We view Barstool as a fantastic channel to promote our offerings & also an undervalued media asset."
Barstool posts record revs & EBITDA in 2020 despite sports halted.
I am long!
Not all that surprising but:
Snowden confirms $PENN will exercise its option to raise Barstool equity stake to 50% in 2 years.
Snowden confirms $PENN will exercise its option to raise Barstool equity stake to 50% in 2 years.
