
Penn Entertainment (PENN) Stock Forecast & Price Target
Penn Entertainment (PENN) Analyst Ratings
Bulls say
PENN Entertainment is attractive because its core retail portfolio is still producing organic growth and margin expansion, with 2Q26 EBITDAR of $476m, up 21% YoY, and nine properties setting revenue and EBITDA records in a healthy regional gaming backdrop with limited new supply. The company’s recent beat-and-raise, along with 2026 guidance now implying about $5.87bn of retail revenue and $1.963bn of EBITDAR, suggests its land-based assets and recent projects are becoming a larger earnings and cash-flow driver as it moves beyond its peak capex cycle. Interactive remains a key option value rather than a drag, as tighter marketing discipline, theScore’s sports betting and i-gaming technology, and omnichannel cross-sell support a clearer path to improved FCF and a stronger digital position.
Bears say
PENN Entertainment is viewed negatively because its business remains heavily dependent on low-margin land-based casinos, which still represented 81% of total sales in 2025, even as the company tries to grow its digital mix. While the retail portfolio generates low-30s EBITDAR margins and supports licensing access for online wagering, the interactive segment has faced moderating iCasino GGR growth, share losses in Michigan, and management’s reiterated $20M loss including Alberta spend, underscoring profitability challenges. The company’s weak profitability profile and the risk of difficulty scaling Interactive, along with competitive, economic, and regulatory pressures, outweigh the benefits of theScore and its growth-oriented digital strategy.
This aggregate rating is based on analysts' research of Penn Entertainment and is not a guaranteed prediction by Public.com or investment advice.
Penn Entertainment (PENN) Analyst Forecast & Price Prediction
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