Pennentertainment — Trading Ideas on TradingView

PENN Entertainment Options Ahead of Earnings Analyzing the options chain and the chart patterns of OXY PENN Entertainment prior to the earnings report this week, I would consider purchasing the $22.5usd strike price Calls with an expiration date of 2025-4-17, for a premium of approximately $0.88. If these options prove to be profitable prior to the earnings release, I would sell at least half of them.

Penn Reports Q4 Net Loss of $358.8m Amidst ESPN Bet Launch Penn Entertainment announced a net loss of $358.8m for Q4 2023, a quarter in which the operator launched its ESPN Bet sportsbook. ESPN Bet, the product of Penn’s $1.5bn deal with Disney-owned ESPN, launched across 17 states on 15 November. Penn’s Interactive segment recorded revenues of $31.5m in Q4, although its adjusted EBITDA loss stood at $333.8m. Revenue across the whole company dropped 12.5% in Q4 year-on-year from $1.6bn to $1.4bn. Overall adjusted EBITDAR for Q4, meanwhile, plummeted from $468.3m to $112.5m year-on-year. Penn’s northeast segment, encompassing 17 properties including Ameristar East Chicago and Hollywood Casino Lawrenceburg, accounted for $662.9m of the $1.4bn in revenue. Diluted earnings per share also went from $0.13 to a loss of $2.37. Moreover, total liquidity dropped to $2.1bn from 2022’s figure of $2.6bn. Net debt at the end of Q4 stands at $1.6bn. Penn’s full year results The $1.4bn in Q4 revenue took NASDAQ:PENN to $6.36bn for the year. This fell just $3.9m behind 2022’s figure of $6.4bn. For adjusted EBITDAR, 2023’s $1.51bn fell significantly short of the $1.94bn accumulated in Penn’s 2022 financial year. Adjusted EBITDAR margin also fell from 30.3% to 23.8%. Overall, NASDAQ:PENN lost $491.4m throughout 2023. When compared to last year’s net income of $221.7m, there is a disparity of $713.1m between those two figures. However, a key reason for the poor full-year results for Penn Entertainment ( NASDAQ:PENN ) is the company’s $1 sale of Barstool’s brand back to founder Dave Portnoy in August. According to Penn, the divesture incurred a $923.2m loss for the 2023 financial year. ESPN Bet goes live in Q4 Despite the significant adjusted EBITDA loss for the company’s Interactive segment in Q4, Penn president and chief executive Jay Snowden lauded ESPN Bet’s record handle and its conversion to over a million first-time depositors. Snowden noted ESPN Bet’s download volumes, hitting the record for sportsbook downloads with over a million in the first six days following its introduction. Snowden highlighted ESPN Bet’s strong key performance indicators (KPIs), including monthly active users (MAUs) and handle. However, ESPN Bet’s launch into a highly competitive US market means it could prove subtle to challenge the likes of giants DraftKings and FanDuel for market share. In Snowden’s view, though, further product enhancements and deeper integrations should help ESPN Bet to grow and therefore make more of a dent in the market. Difficult quarter for Penn Significant drops in key financial statistics such as revenue and adjusted EBITDAR combined with a net loss for the quarter suggest it was a negative period for $PENN. However, ESPN Bet’s encouraging early signs could lead to a turnaround shortly having largely been in the initial heavily promotional phase to boost player acquisition. Penn also retains a positive liquidity status with $2.1bn available at the end of the year. This includes $1.1bn in cash and cash equivalents. Penn’s future plans ESPN Bet’s promotional expense has “started to normalize” after the early phase and Penn believes partnering with the US’ largest media brand has allowed for attractive cost-per-acquisition (CPA) over the initial stages. Looking forward, Penn ( NASDAQ:PENN ) is expecting to launch ESPN Bet in North Carolina this year, as well as New York, which is by far the most lucrative state for sports betting in North America. Those two launches alone will take ESPN Bet’s addressable online sports betting population in the United States from 37% to 46%. Penn( NASDAQ:PENN ) took another step closer to launching ESPN Bet in New York this week by acquiring Wynn Interactive Holdings’ sports betting licenses in the state. Upon relevant approvals, Penn will launch ESPN Bet in the state later this year. Snowden said this acquisition will expose ESPN Bet to the most prominent sports betting market in the US. It remains a highly competitive market, though, with current brands active on the market including FanDuel, DraftKings, Bally Bet, BetMGM, Caesars Sportsbook, Fanatics Sportsbook, Resorts World Bet and BetRivers.

PENN Entertainment Options Ahead of Earnings If you haven`t bought PENN before the previous earnings: Then analyzing the options chain and the chart patterns of PENN Entertainment prior to the earnings report this week, I would consider purchasing the 25usd strike price Calls with an expiration date of 2024-6-21, for a premium of approximately $2.28. If these options prove to be profitable prior to the earnings release, I would sell at least half of them.

(NASDAQ: $PENN) Navigating Challenges, Unleashing Potential In the dynamic world of gaming and entertainment, Penn National Gaming (PENN) stands as a resilient player, breaking through the barriers and seizing strategic opportunities. While facing challenges, the company's innovative approach and strategic partnerships position it for substantial growth. In this article, we will delve into the factors that make Penn Entertainment an enticing investment, exploring growth catalysts, recent developments, and the company's resilience in the face of industry headwinds. Breaking the Trend: Penn National Gaming has recently broken through the ceiling of a falling trend channel in the medium long term. This breakthrough suggests a slowing falling rate or the initiation of a more horizontal development. Investors keen on identifying promising entry points should take note of the positive signals emanating from this shift. Technical Analysis: The stock has exhibited resilience by bouncing back after a break of the rectangle formation. Although facing resistance around $26.50, this presents an opportune moment for strategic investors. A decisive break of this resistance could neutralize negative signals and pave the way for a more bullish trajectory. The stock's approach towards the $26.80 resistance level signifies a critical juncture, with a potential positive signal upon breaking this barrier. Strategic Partnerships and Expansion: Penn Entertainment's strategic partnerships underscore its commitment to staying at the forefront of the gaming industry. The alliance with Quail Hollow Club and Wells Fargo Championship is a testament to the company's expansion strategy. Pending regulatory approval, the collaboration grants PENN's ESPN BET platform access to North Carolina's online sports betting market, a significant step in claiming a stake in this emerging arena. ESPN BET, the result of a fusion between ESPN's renowned brand and PENN's advanced technology, was launched in 17 states on Nov 14. This move reinforces PENN's standing in the dynamic sports betting landscape, offering an appealing investment prospect for those intrigued by the convergence of entertainment and online betting. Growth Catalysts and Market Potential: Penn Entertainment's focus on the loyalty program and its 3C's initiatives position the company for sustained growth. The strategic partnerships not only enhance market presence but also unlock various marketing avenues, creating a symbiotic relationship between sports enthusiasts and the company's offerings. With pending regulatory approvals, PENN is poised to capitalize on North Carolina's flourishing market, further expanding its footprint in the online sports betting arena. While acknowledging challenges, Penn National Gaming's strategic initiatives, partnerships, and focus on innovation make it a compelling investment opportunity. The recent breakthrough in the stock's trend channel, coupled with strategic alliances, positions PENN for potential growth. Investors seeking a dynamic and resilient player in the gaming and entertainment sector should consider Penn Entertainment as a promising addition to their portfolio. As the company navigates challenges, its strategic vision and market potential make it a compelling buy for those looking to ride the wave of innovation and growth in the gaming industry.

PENN Entertainment's (NASDAQ: $PENN) Peaks and Troughs On December 11, 2023, PENN stock exhibited positive performance, as it traded in the middle of its 52-week range and remained above its 200-day simple moving average. These indicators suggest that the stock has been relatively stable and could potentially continue its upward trend. The price of PENN shares saw a notable increase of $1.81 since the previous market close, representing a rise of 7.59%. This significant jump in price indicates strong investor confidence and bullish sentiment surrounding the stock. Furthermore, PENN stock opened at $23.90, which was $0.04 higher than its previous close. This slight increase in the opening price further reinforces the positive momentum that the stock experienced throughout the day. We will view these positive price movements as an encouraging sign for PENN stock. The fact that it is trading above its 200-day simple moving average indicates that the stock has been performing well over a longer time frame. Moreover, trading in the middle of its 52-week range suggests that the stock has not reached its potential peak, leaving room for further growth.

PENN Entertainment Options Ahead of Earnings Analyzing the options chain and the chart patterns of PENN Entertainment prior to the earnings report this week, I would consider purchasing the $25.50 strike price Calls with an expiration date of 2023-8-11, for a premium of approximately $0.90. If these options prove to be profitable prior to the earnings release, I would sell at least half of them. Looking forward to read your opinion about it.