PENN Entertainment (PENN) Operating Expenses (2009 - 2026)
PENN Entertainment (PENN) reported Operating Expenses of $1.7 billion for Q1 2026, up 3.21% on a YoY basis from $1.6 billion in Q1 2025, and down 7.77% sequentially from $1.8 billion in Q4 2025.
PENN Entertainment (PENN) Operating Expenses (2009 - 2026) Analysis & Trends
PENN Entertainment (PENN) has 18 years of Operating Expenses data on file, last reported at $1.7 billion in Q1 2026.
- For the quarter ending Q1 2026, Operating Expenses rose 3.21% year-over-year to $1.7 billion; the trailing twelve-month figure through Mar 2026 stood at $7.7 billion (up 18.13% YoY), and the FY2025 full-year result was $7.6 billion, up 17.35% from the prior year.
- Operating Expenses retreated to $1.7 billion in Q1 2026, from $1.8 billion in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $2.5 billion in Q3 2025 to a low of $1.3 billion in Q1 2022.
- A 5-year average of $1.7 billion and a median of $1.6 billion in 2024 frame the typical range for Operating Expenses.
- Across the five-year window, Operating Expenses surged 61.65% in 2023 and plunged 34.67% in 2024, its largest moves.
- Tracing PENN's Operating Expenses over 5 years: stood at $1.3 billion in 2022, then gained by 26.89% to $1.7 billion in 2023, then increased by 0.78% to $1.7 billion in 2024, then grew by 6.21% to $1.8 billion in 2025, then fell by 7.77% to $1.7 billion in 2026.
- Business Quant data shows PENN's Operating Expenses at $1.7 billion in Q1 2026, $1.8 billion in Q4 2025, and $2.5 billion in Q3 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Las Vegas Sands | 30.75 Bn | 27.42 Bn | 3.49 Bn | 2.68 Bn |
| 2 | MGM Resorts International | 11.68 Bn | 9.38 Bn | 4.32 Bn | 4.16 Bn |
| 3 | Wynn Resorts | 9.99 Bn | 9.89 Bn | 1.75 Bn | 1.57 Bn |
| 4 | Boyd Gaming | 6.73 Bn | 6.36 Bn | 984.15 Mn | 833.36 Mn |
| 5 | Melco Resorts & Entertainment | 6.48 Bn | 5.85 Bn | - | -1.19 Bn |
| 6 | Caesars Entertainment | 6.11 Bn | 5.15 Bn | 2.78 Bn | 2.37 Bn |
| 7 | Vail Resorts | 5.23 Bn | 5.21 Bn | - | - |
| 8 | Hilton Grand Vacations | 4.01 Bn | 3.75 Bn | 1.23 Bn | 1.14 Bn |
| 9 | Red Rock Resorts | 3.72 Bn | 3.12 Bn | 433.13 Mn | 363.64 Mn |
| 10 | PENN Entertainment | 2.74 Bn | 2.03 Bn | 1.45 Bn | 1.68 Bn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 1.68 Bn |
| Dec 31, 2025 | 1.82 Bn |
| Sep 30, 2025 | 2.49 Bn |
| Jun 30, 2025 | 1.69 Bn |
| Mar 31, 2025 | 1.63 Bn |
| Dec 31, 2024 | 1.72 Bn |
| Sep 30, 2024 | 1.57 Bn |
| Jun 30, 2024 | 1.59 Bn |
| Mar 31, 2024 | 1.63 Bn |
| Dec 31, 2023 | 1.70 Bn |
| Sep 30, 2023 | 2.41 Bn |
| Jun 30, 2023 | 1.47 Bn |
| Mar 31, 2023 | 1.47 Bn |
| Dec 31, 2022 | 1.34 Bn |
| Sep 30, 2022 | 1.49 Bn |
| Jun 30, 2022 | 1.32 Bn |
| Mar 31, 2022 | 1.27 Bn |
| Dec 31, 2021 | 1.35 Bn |
| Sep 30, 2021 | 1.27 Bn |
| Jun 30, 2021 | 1.17 Bn |