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How Penn Entertainment (PENN) makes money
Penn Entertainment (PENN) made $1.8B of revenue in the third quarter 2026 (Q3 2026), +7% from a year earlier. Gaming brought in $1.4B (75%); Food, beverage, hotel, and other brought in $469M (25%). Of every dollar of revenue, 7¢ was left as operating profit, 2¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Gaming | $1.4B | 74.5% | -2% | +3% |
| Food, beverage, hotel, and other | $469M | 25.5% | +2% | +20% |
| ↳ Other | $270M | 14.7% | -0.2% | +26% |
| ↳ Food and beverage | $119M | 6.5% | +2% | +7% |
| ↳ Hotel | $79.6M | 4.3% | +9% | +20% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $1.8B | 100.0% |
| Operating profit | $127M | 6.9% |
| Income tax | $1.7M | 0.1% |
| Net earnings | $32.6M | 1.8% |
| Operating cash flow | $263M | 14.3% |
| Free cash flow | $204M | 11.1% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $1.8B | +7% |
| Q2 2026 | $1.9B | +5% |
| Q1 2026 | $1.8B | +6% |
| Q4 2025 | $1.8B | +8% |
| Q3 2025 | $1.7B | +5% |
| Q2 2025 | $1.8B | +6% |
| Q1 2025 | $1.7B | +4% |
From Penn Entertainment's 10-Q filed Nov 5, 2026 (on EDGAR).
Questions
How does Penn Entertainment make money?
Penn Entertainment (PENN) made $1.8B of revenue in the third quarter 2026 (Q3 2026), +7% from a year earlier. Gaming brought in $1.4B (75%); Food, beverage, hotel, and other brought in $469M (25%). Of every dollar of revenue, 7¢ was left as operating profit, 2¢ was left as net earnings.
What is Penn Entertainment's biggest business?
Gaming: $1.4B in the third quarter 2026, 75% of revenue, +3% from a year earlier.
What is Penn Entertainment's profit margin?
Net earnings were $32.6M, 1.8% of revenue, in the third quarter 2026; the operating margin was 6.9%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.