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Revenue Disaggregation | 9 Months Ended
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Sep. 30, 2025
Revenue from Contract with Customer [Abstract] |
Revenue Disaggregation | Revenue Disaggregation Our revenues are generated primarily by providing the following types of services: (i) gaming, inclusive of retail sports betting, iCasino, and online sports betting; (ii) food and beverage; (iii) hotel; and (iv) other. Other revenues are primarily comprised of PENN Interactive’s revenues generated from third-party online sports betting and the related gross-up for taxes, racing operations, advertising, retail, and commissions received on ATM transactions. Our revenue is disaggregated by type of revenue and geographic location (with no single foreign country’s revenue representing more than 10% of total consolidated revenues) of the related properties, which is consistent with our reportable segments, as follows:
| For the three months ended September 30, 2025
(in millions) | Northeast |  | South |  | West |  | Midwest |  | Interactive (1) |  | Other |  | Intersegment Eliminations (2) |  | Total
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gaming | $ | 617.2 |  |  | $ | 215.2 |  |  | $ | 98.4 |  |  | $ | 265.1 |  |  | $ | 129.3 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,325.2 |
Food and beverage | 36.7 |  |  | 39.0 |  |  | 19.0 |  |  | 15.7 |  |  | — |  |  | 0.6 |  |  | — |  |  | 111.0 |
Hotel | 14.0 |  |  | 26.1 |  |  | 16.4 |  |  | 9.9 |  |  | — |  |  | — |  |  | — |  |  | 66.4 |
Other | 22.6 |  |  | 10.7 |  |  | 4.5 |  |  | 7.6 |  |  | 168.4 |  |  | 3.5 |  |  | (2.6) |  |  | 214.7 |
Total revenues | $ | 690.5 |  |  | $ | 291.0 |  |  | $ | 138.3 |  |  | $ | 298.3 |  |  | $ | 297.7 |  |  | $ | 4.1 |  |  | $ | (2.6) |  |  | $ | 1,717.3 |
| For the three months ended September 30, 2024
(in millions) | Northeast |  | South |  | West |  | Midwest |  | Interactive (1) |  | Other |  | Intersegment Eliminations (2) |  | Total
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gaming | $ | 609.9 |  |  | $ | 220.2 |  |  | $ | 89.8 |  |  | $ | 259.1 |  |  | $ | 109.0 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,288.0 |
Food and beverage | 35.8 |  |  | 34.0 |  |  | 18.7 |  |  | 15.5 |  |  | — |  |  | 0.5 |  |  | — |  |  | 104.5 |
Hotel | 15.7 |  |  | 23.6 |  |  | 17.8 |  |  | 10.4 |  |  | — |  |  | — |  |  | — |  |  | 67.5 |
Other | 23.4 |  |  | 10.3 |  |  | 5.5 |  |  | 7.2 |  |  | 135.6 |  |  | 3.5 |  |  | (6.3) |  |  | 179.2 |
Total revenues | $ | 684.8 |  |  | $ | 288.1 |  |  | $ | 131.8 |  |  | $ | 292.2 |  |  | $ | 244.6 |  |  | $ | 4.0 |  |  | $ | (6.3) |  |  | $ | 1,639.2 |
| For the nine months ended September 30, 2025
(in millions) | Northeast |  | South |  | West |  | Midwest |  | Interactive (1) |  | Other |  | Intersegment Eliminations (2) |  | Total
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gaming | $ | 1,863.5 |  |  | $ | 660.8 |  |  | $ | 287.2 |  |  | $ | 781.3 |  |  | $ | 398.4 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,991.2 |
Food and beverage | 113.2 |  |  | 112.0 |  |  | 55.6 |  |  | 47.6 |  |  | — |  |  | 3.2 |  |  | — |  |  | 331.6 |
Hotel | 39.8 |  |  | 77.2 |  |  | 48.8 |  |  | 27.7 |  |  | — |  |  | — |  |  | — |  |  | 193.5 |
Other | 66.5 |  |  | 31.5 |  |  | 14.1 |  |  | 21.6 |  |  | 505.5 |  |  | 11.9 |  |  | (12.6) |  |  | 638.5 |
Total revenues | $ | 2,083.0 |  |  | $ | 881.5 |  |  | $ | 405.7 |  |  | $ | 878.2 |  |  | $ | 903.9 |  |  | $ | 15.1 |  |  | $ | (12.6) |  |  | $ | 5,154.8 |
| For the nine months ended September 30, 2024
(in millions) | Northeast |  | South |  | West |  | Midwest |  | Interactive (1) |  | Other |  | Intersegment Eliminations (2) |  | Total
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gaming | $ | 1,850.3 |  |  | $ | 684.2 |  |  | $ | 275.9 |  |  | $ | 784.7 |  |  | $ | 283.5 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,878.6 |
Food and beverage | 108.5 |  |  | 99.6 |  |  | 55.8 |  |  | 46.0 |  |  | — |  |  | 2.9 |  |  | — |  |  | 312.8 |
Hotel | 40.6 |  |  | 70.2 |  |  | 50.2 |  |  | 29.3 |  |  | — |  |  | — |  |  | — |  |  | 190.3 |
Other | 66.4 |  |  | 30.8 |  |  | 14.0 |  |  | 21.5 |  |  | 401.4 |  |  | 13.0 |  |  | (19.7) |  |  | 527.4 |
Total revenues | $ | 2,065.8 |  |  | $ | 884.8 |  |  | $ | 395.9 |  |  | $ | 881.5 |  |  | $ | 684.9 |  |  | $ | 15.9 |  |  | $ | (19.7) |  |  | $ | 4,909.1 |
(1) Other revenues within the Interactive segment are inclusive of gaming tax reimbursement amounts related to third-party online sports betting and/or iCasino partners for online sports betting and iCasino market access of $139.5 million and $104.1 million for the three months ended September 30, 2025 and 2024, respectively, and $405.6 million and $302.8 million for the nine months ended September 30, 2025 and 2024, respectively. (2) Primarily represents the elimination of intersegment revenues associated with our retail sportsbooks, which are operated by PENN Interactive.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-7 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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