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Loss per Share (Tables) | 9 Months Ended
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Sep. 30, 2025
Earnings Per Share [Abstract] |
Schedule of Antidilutive Securities Excluded From Computation of Earnings (Loss) Per Share | We recorded a net loss attributable to PENN for the three and nine months ended September 30, 2025 and 2024. As such, the dilution from potential common shares was anti-dilutive, and therefore, we used basic weighted-average common shares outstanding rather than diluted weighted-average common shares outstanding when calculating diluted loss per share. Stock options, restricted stock, and convertible debt that could potentially dilute basic EPS in the future, that were not included in the computation of diluted loss per share, are as follows:
| For the three months ended September 30, |  | For the nine months ended September 30,
(in millions) | 2025 |  | 2024 |  | 2025 |  | 2024
Assumed conversion of dilutive stock options | — |  |  | 0.1 |  |  | — |  |  | 0.1 |
Assumed conversion of dilutive restricted stock | 0.8 |  |  | 0.5 |  |  | 0.5 |  |  | 0.2 |
Assumed conversion of convertible debt | 4.6 |  |  | 14.1 |  |  | 10.5 |  |  | 14.1 |
Schedule of Calculation of Basic and Diluted Loss Per Share | The following table presents the calculation of basic and diluted loss per share for the Company’s common stock for the three and nine months ended September 30, 2025 and 2024:
| For the three months ended September 30, |  | For the nine months ended September 30,
(in millions, except per share data) | 2025 |  | 2024 |  | 2025 |  | 2024
Calculation of basic loss per share: |  |  |  |  |  |  |
Net loss applicable to common stock | $ | (864.6) |  |  | $ | (36.7) |  |  | $ | (770.2) |  |  | $ | (178.2) |
Weighted-average shares outstanding — PENN Entertainment, Inc. | 143.1 |  |  | 151.7 |  |  | 147.8 |  |  | 151.6 |
Weighted-average shares outstanding — Exchangeable Shares | 0.4 |  |  | 0.5 |  |  | 0.4 |  |  | 0.5 |
Weighted-average common shares outstanding — basic | 143.5 |  |  | 152.2 |  |  | 148.2 |  |  | 152.1 |
Basic loss per share | $ | (6.03) |  |  | $ | (0.24) |  |  | $ | (5.20) |  |  | $ | (1.17) |
Calculation of diluted loss per share: |  |  |  |  |  |  |
Diluted loss applicable to common stock | $ | (864.6) |  |  | $ | (36.7) |  |  | $ | (770.2) |  |  | $ | (178.2) |
Weighted-average common shares outstanding — diluted | 143.5 |  |  | 152.2 |  |  | 148.2 |  |  | 152.1 |
Diluted loss per share | $ | (6.03) |  |  | $ | (0.24) |  |  | $ | (5.20) |  |  | $ | (1.17) |

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- Definition Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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