PENN Entertainment saw a drop in profits in Q4 2023 due to the launch of ESPN Bet. Revenue fell to $1.3 billion from $1.5 billion in Q4 2022, resulting in a net loss of $358.8 million compared to a net income of $20.8 million.
Adjusted EBITDA decreased to $39.6 million from $438.3 million. Despite this, PENN's property segment performed well, earning $1.3 billion.
Adjusted EBITDA decreased to $39.6 million from $438.3 million. Despite this, PENN's property segment performed well, earning $1.3 billion.
