Penn National Gaming, now Penn Entertainment, has published its financial results for Q2 2022.
Revenue stood at $1.6bn, representing an increase of 5% year-on-year.
This is a reasonable showing when compared at face value to competitors: Caesars recently reported an 11% annual rise, while Boyd Gaming was only able to report a 0.1% increase. MGM Resorts International was the star of the quarter, reporting 44% revenue growth.
For Penn, net income saw a decline, amounting to $26.1m, with a net income margin of 1.6%, compared to the previous year’s net income of $198.7m, with a net income margin of 12.9%.