Further, Other Segment results included a $12.5 million lobbying expense to support the California sports betting initiative and $7.5 million in expenses related to new state launches of our Barstool Sportsbook app. As the operating environment has normalized, we have seen improved results in October. While July was a record month, the second half of August and September was impacted by Hurricane Ida and regional flare-ups of the Delta variant, which reduced property Adjusted EBITDAR and Adjusted EBITDAR margins by an estimated $30 million and 85 basis points, respectively. We also continued to generate revenues and EBITDAR significantly above 2019 levels, despite exogenous events that had a one-time impact on our quarter. In addition, we opened Hollywood Casino York to strong initial results, began to roll out our market leading cashless, cardless, and contactless (“3Cs”) technology across the portfolio and continued to derive multiple tangible benefits from our highly differentiated omni-channel strategy. We successfully launched the Barstool Sportsbook mobile app in five states ( Colorado, New Jersey, Tennessee, Virginia, and Arizona), which more than doubled our footprint. Jay Snowden, President and Chief Executive Officer, commented: “We achieved many significant milestones in the third quarter.

Adjusted EBITDAR margins of 31.8%, as compared to 40.1% in the prior year and 30.1% in 2019.įor further information, we have posted a presentation to our website regarding the third quarter highlights and accomplishments, which can be found here.

Adjusted EBITDAR of $480.3 million, an increase of $27.7 million year over year and $72.4 million versus 2019 and.

Adjusted EBITDA of $364.3 million, an increase of $20.7 million year over year and $52.7 million versus 2019.

Net income of $86.1 million and net income margin of 5.7%, as compared to $141.2 million and 12.5%, respectively, in the prior year and net income of $43.7 million and net margin of 3.2% in 2019.Revenues of $1.5 billion, an increase of $382.1 million year over year and $157.3 million versus 2019.(NASDAQ: PENN) (“Penn National” or the “Company”) today reported financial results for the three and nine months ended September 30, 2021.

Ongoing Growth in Core Businesses Driven by High-End Guests, Continued Engagement with Younger Demographics and Enhanced by New Technology Barstool Sportsbook Mobile App Continues to Expand Through Disciplined Growth While Driving Sustainable Market Share

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