PENN Entertainment (PENN) Operating Expenses (2009 - 2026)
PENN Entertainment (PENN) posted Operating Expenses of $1.7 billion for Q1 2026, down 7.77% sequentially from $1.8 billion in Q4 2025, and up 3.21% YoY from $1.6 billion in Q1 2025.
PENN Entertainment (PENN) Operating Expenses (2009 - 2026) Analysis & Trends
PENN Entertainment has reported Operating Expenses for 18 years, with the latest figure at $1.7 billion in Q1 2026.
- Quarterly Operating Expenses rose 3.21% year-over-year to $1.7 billion in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $7.7 billion (up 18.13% YoY) and the FY2025 annual result came in at $7.6 billion, up 17.35% from the prior year.
- Operating Expenses retreated to $1.7 billion in Q1 2026 per PENN's latest filing, from $1.8 billion in the prior quarter.
- Over five years, Operating Expenses peaked at $2.5 billion in Q3 2025 and troughed at $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.
- The sharpest annual moves came in 2023 and 2024: Operating Expenses jumped 61.65% in 2023, then slumped 34.67% in 2024.
- Over 5 years, Operating Expenses stood at $1.3 billion in 2022, then grew by 26.89% to $1.7 billion in 2023, then advanced by 0.78% to $1.7 billion in 2024, then gained by 6.21% to $1.8 billion in 2025, then slipped by 7.77% to $1.7 billion in 2026.
- According to Business Quant data, Operating Expenses over the past three periods registered $1.7 billion, $1.8 billion, and $2.5 billion for Q1 2026, Q4 2025, and Q3 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Las Vegas Sands | 30.10 Bn | 26.73 Bn | 1.81 Bn | 2.54 Bn |
| 2 | MGM Resorts International | 10.94 Bn | 8.39 Bn | 3.10 Bn | 3.97 Bn |
| 3 | Wynn Resorts | 10.22 Bn | 8.64 Bn | 1.14 Bn | 1.56 Bn |
| 4 | Boyd Gaming | 6.06 Bn | 5.74 Bn | 766.76 Mn | 833.69 Mn |
| 5 | Caesars Entertainment | 6.05 Bn | 4.99 Bn | 2.04 Bn | 2.48 Bn |
| 6 | Vail Resorts | 5.35 Bn | 4.98 Bn | - | - |
| 7 | Marriott Vacations Worldwide | 3.84 Bn | 3.53 Bn | 1.29 Bn | 1.16 Bn |
| 8 | Hilton Grand Vacations | 3.56 Bn | 3.29 Bn | 499.00 Mn | 1.27 Bn |
| 9 | Red Rock Resorts | 3.54 Bn | 2.94 Bn | 420.02 Mn | 374.27 Mn |
| 10 | PENN Entertainment | 2.46 Bn | 1.57 Bn | 1.02 Bn | 1.73 Bn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 1.73 Bn |
| 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 |