WYOMISSING, Pa. – PENN Entertainment, Inc. (NASDAQ:PENN), a $2.9 billion market cap gaming company, has introduced its Hollywood Casino (EPA:) mobile application in the Pennsylvania market. The app, now available on Android, iOS, and desktop platforms, features more than 700 iCasino games, including slots, table games, and live dealer content. Pennsylvania players can access the app through the ESPN app or directly through the Hollywood Casino app using their ESPN BET login credentials. According to InvestingPro analysis, PENN stock currently appears to be undervalued, although investors should note the company’s significant debt burden and volatile stock, with a beta of 2.07.

The Hollywood Casino app is built on PENN’s proprietary technology platform and includes unique offerings such as bespoke live dealer tables and a ‘Casino Floor’ lobby, designed to replicate the experience of the company’s retail properties. Additionally, the app features original titles from PENN Game Studios, further expanding its digital gaming portfolio. With annual revenue of $6.3 billion, PENN continues to invest in digital innovation despite challenging market conditions, as demonstrated by the stock’s -26.36% year-to-date performance. For detailed analysis and additional insights, investors can access the comprehensive Pro Research Report available at InvestingProcovering over 1,400 US stocks.

Aaron LaBerge, Chief Technology Officer of PENN Entertainment, expressed excitement for the launch, highlighting the app’s role in bridging online and retail gaming experiences for their customers. He also noted that the company plans to expand the Hollywood Casino app to additional jurisdictions in early 2025, pending regulatory approvals.

The new app is fully integrated with PENN Play, the company’s omnichannel loyalty program, which allows users to earn and redeem rewards across multiple platforms. In line with responsible gaming practices, the app offers comprehensive tools and resources to help users manage their gaming activities.

This development by PENN, a leading provider of integrated entertainment and gaming experiences in North America, is based on a press release. The company operates in 26 jurisdictions and is known for its diverse portfolio of casinos, racetracks, and online sports betting and iCasino offerings.

PENN Entertainment emphasizes its commitment to providing a safe gaming environment and promoting responsible gaming. For more information on their responsible gaming initiatives, individuals can visit the company’s website.

The forward-looking statements included in the news release are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those anticipated. InvestingPro The data revealed several key risks, including negative earnings per share forecasts and earnings changes below many analysts’ for the coming period. For a detailed understanding of these risks, see PENN Entertainment’s filings with the Securities and Exchange Commission.

In other recent news, PENN Entertainment has experienced a series of significant developments. The company was recently upgraded from Neutral to Overweight by JPMorgan, with a revised price target of $27.00, indicating a positive outlook for the company’s future. This upgrade is based on expected growth from $850 million invested in four retail projects and expected improvements in the company’s regional land-based casino cash flow.

The company’s Interactive segment, which includes online sports betting and iGaming, is also expected to generate moderately positive EBITDA in 2026. This is largely attributed to the success of ESPN BET, which is seen as a key driver for the stock at PENN. The company also obtained favorable loan terms, reducing interest rates on existing loan terms, which helped reduce debt and interest costs.

On the revenue front, PENN Entertainment reported strong financial performance in its Q3 earnings call, with retail revenue reaching $1.4 billion and adjusted EBITDA at $472 million, surpassing prior estimates. estimate. However, the Interactive segment reported an adjusted profit of $141 million with an EBITDA loss of $91 million.

BofA Securities initiated coverage on PENN Entertainment with a Neutral rating, following the company’s third quarter performance. The company expects core regional EBITDA to be 3% lower than its previous forecasts in 2025, attributing it to increased supply and margin pressure. In other company news, PENN Entertainment has four growth projects underway, including Hollywood Joliet, which is scheduled to open in the second half of 2025.

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