PENN Entertainment has reported an adjusted EBITDAR loss of $9.5m (£7m) for its online arm as theScore Bet’s owner inches closer to breaking even for the division.
Losses Q2 shrunk from $62m in Q2 2025, with the business having shifted its focus to online casino and ditching ESPN Bet in December 2025.
The operator runs theScore Bet in 20 US states as well as Canadian provinces Ontario and Alberta, while its standalone Hollywood iCasino app is live in four US jurisdictions and Alberta and Ontario.
Interactive revenue rose from $316.1m to $349.4m year on year (YoY), although the figure did include a tax gross up of $185.5m.
On an adjusted revenue basis, online casino was up 1.8% YoY to $68.9m, while online sports betting slumped 22.3% to $60.4m. Removing the tax gross up, online revenue slid 8% to $163.9m.
Average monthly active users also declined, falling 14.4% YoY to 417,000 during the reporting period. Average revenue per monthly active user ticked up 4% to $104.
Sports betting hold dipped 106 basis points to 8.8%, while online casino hold was up 25 basis points to 3.6%.
Management said the decline in losses was reflective of the “disciplined execution of our strategy to drive profitability with a focus on US icasino and Canadian operations”.
On that note, bosses confirmed US online casino had reported record quarterly performance, while Canada was supported by a strong World Cup and cross-sell.
On a H1 basis, interactive losses narrowed to $20.4m from $151m and revenue for the division rose from $606.2m to $707.7m.
At group level, Q2 revenue was up to $1.9bn, thanks to gains across PENN’s land-based portfolio, while adjusted EBITDA was climbed from $236.1m to $312.6m.
PENN’s shares slipped 2% to $19.62 in trading yesterday, 5 August. The stock is up 33% since the start of the year.
Jay Snowden, PENN CEO, said: “Our Interactive segment delivered another quarter of meaningful year-over-year adjusted EBITDA improvement.
“In the US, standalone Hollywood iCasino experienced quarter-over-quarter as well as year-over-year growth, achieving record quarterly revenues.
“In Ontario, gaming operations continued to gain momentum, supported by strong growth in online sports betting revenues aided by solid World Cup engagement and cross-sell of the reactivated World Cup online sports betting user base into icasino.
“We also successfully launched theScore Bet, as well as theScore Casino and Hollywood iCasino standalone apps, in Alberta on 13 July.”
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CEO Jay Snowden also champions cross-sell performance during the World Cup across North America for theScore Bet parent
The post PENN nears breakeven EBITDA for online arm as bosses praise icasino push first appeared on EGR Intel.