Connect with us

Canada

Penn National Stock Drops 10% Despite Earnings Beat

Published

on

 

Penn National Gaming Inc. shares dropped more than 10% last Thursday trading after the gambling company reported earnings that more than doubled expectations. Penn reported first-quarter profit of $91 million, or 55 cents a share, improving from a loss of $5.26 a share in the same quarter a year ago, which was mostly due to an impairment charge of more than $600 million related to the COVID-19 pandemic.

Penn reported net revenue of $1.28 billion, up from $1.12 billion in the year-ago quarter. Analysts on average expected earnings of 26 cents a share on sales of $1.14 billion.

Shares dove in Thursday’s trading session despite the earnings beat, with Penn suffering the second-weakest day of any S&P 500 stock behind only Etsy Inc.’s ETSY, +4.97% post-earnings selloff. Jefferies analysts had expected “a neutral to modestly positive reaction in the shares” after the numbers hit, but said that a slower rollout of online gambling options could temper enthusiasm.

“The upside in the quarter … should be expected given the regional strength previously indicated by peers, but is positive nonetheless. Separately, the ongoing transformation to a technology-driven enterprise continues to progress, albeit more gradually than some peers, [which] could temper the Street’s bullishness in response,” the analysts wrote ahead of Thursday morning’s conference call.

Executives did not appear to provide any reason for pessimism in the call, with Chief Executive Jay Snowden calling out improving metrics into the current quarter. The company did not provide any official guidance for the current quarter nor year due to pandemic uncertainty.

“Our performance in March and April … reflects the additional easing of restrictions and an increase in the percentage of people vaccinated. Revenues were 8% over the same two-month period in 2019, while adjusted Ebitdar accelerated 29% to $410 million and Ebitdar margins increased 650 basis points to nearly 40%. We also note that spend-per-visit is much higher than it was pre-COVID,” Snowden said.

Penn has seen its stock rise more than 400% in the past year amid further legalization of sports betting and its investment in popular sports website Barstool.

Powered by WPeMatico

Continue Reading
Advertisement

Canada

Gaming Corps expands Entain deal with Ontario live and Alberta launch planned

Published

on

gaming-corps-expands-entain-deal-with-ontario-live-and-alberta-launch-planned

Supplier content is already live on BetMGM in Ontario, with Party Casino & Sports Interaction lined up ahead of Alberta’s July iGaming opening.

Gaming Corps has expanded its partnership with Entain, extending distribution of its casino content across more Entain brands and markets, with Canada positioned as a key near-term focus.

The supplier went live with Entain’s joint venture BetMGM in Ontario in December 2025, followed by a wider Entain rollout in the province in March 2026. Gaming Corps and Entain are also preparing for Alberta’s regulated iGaming market opening in July, with Gaming Corps content “ready to go live from day one with BetMGM” and Party Casino & Sports Interaction to follow.

Outside Canada, Gaming Corps said it completed a full content launch in Brazil with Sportingbet and Betboo in May, and launched 3 Pigs of Olympus exclusively across Entain’s UK-facing Ladbrokes, Coral Gala and Foxy brands in June. The company also said additional launches are being prepared for Portugal, Spain and New Zealand.

The latest phase includes football-themed titles such as Penalty Champion, Goals to Glory: Football Fever and Goals to Glory: Instant Blitz, alongside the supplier’s 3 Pigs IP. Graham Greensmith, Chief Commercial Officer at Gaming Corps, said: “For Gaming Corps, this is a huge milestone. Entain is one of the biggest names in global gaming, so to see our relationship grow in this way is a clear sign of the trust, performance and commercial value we have built together.

“What makes this particularly exciting is the scale of the opportunity. This is not a single-brand launch or a one-market rollout. Entain is continuing to take Gaming Corps content into more territories, across more of its brands, and that says a lot about where we are as a business.

“We have worked hard to build a portfolio that gives major operators real flexibility, from high-performing IP to timely, event-led content and new game formats. To see that strategy being recognised by a partner of Entain’s calibre is incredibly rewarding, and we are very excited about what comes next.”

Obdulio Bacarese, Global Gaming Director at Entain, added: “Gaming Corps has been a valuable partner over the last four years. The strength of the relationship lies in how easily the content can be activated around different commercial priorities, from supporting new market entries to adding timely releases around key calendar moments. The studio understands the need for content that is flexible, relevant and easy to position locally, and we are pleased to continue building on the partnership.”

The post Gaming Corps expands Entain deal with Ontario live and Alberta launch planned appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

Continue Reading

Canada

Gaming Corps expands Entain partnership with major Canadian rollout

Published

on

gaming-corps-expands-entain-partnership-with-major-canadian-rollout

 

Gaming Corps, a publicly listed game development company based in Sweden, has expanded its partnership with Entain, one of the world’s largest sports betting and gaming groups, marking the latest phase of a relationship that began with the companies’ original partnership agreement in 2022 and now spans multiple Entain brands.

Canada is a major focus for the extended partnership. Gaming Corps went live with Entain’s Joint Venture, BetMGM in Ontario in December 2025, followed by a wider Entain rollout in the province in March 2026. Both are now preparing for the opening of Alberta’s regulated iGaming market in July, with the studio’s content ready to go live from day one with BetMGM and Party Casino & Sports Interaction following shortly after.

The partnership has also continued to grow internationally, with Gaming Corps completing a full content launch in Brazil with Sportingbet and Betboo in May of this year, followed by the exclusive launch of 3 Pigs of Olympus across Entain’s UK-facing Ladbrokes, Coral Gala and Foxy brands in June.

Additional market launches in Portugal, Spain and New Zealand are also being prepared.

The latest phase includes a mix of Gaming Corps’ most recognisable content, from football-themed titles such as Penalty Champion, Goals to Glory: Football Fever and Goals to Glory: Instant Blitz, to the studio’s high-performing 3 Pigs IP.

 

Graham Greensmith, Chief Commercial Officer at Gaming Corps, said: “For Gaming Corps, this is a huge milestone. Entain is one of the biggest names in global gaming, so to see our relationship grow in this way is a clear sign of the trust, performance and commercial value we have built together.

“What makes this particularly exciting is the scale of the opportunity. This is not a single-brand launch or a one-market rollout. Entain is continuing to take Gaming Corps content into more territories, across more of its brands, and that says a lot about where we are as a business.

“We have worked hard to build a portfolio that gives major operators real flexibility, from high-performing IP to timely, event-led content and new game formats. To see that strategy being recognised by a partner of Entain’s calibre is incredibly rewarding, and we are very excited about what comes next.”

 

Obdulio Bacarese, Global Gaming Director at Entain, added: “Gaming Corps has been a valuable partner over the last four years. The strength of the relationship lies in how easily the content can be activated around different commercial priorities, from supporting new market entries to adding timely releases around key calendar moments. The studio understands the need for content that is flexible, relevant and easy to position locally, and we are pleased to continue building on the partnership.”

The post Gaming Corps expands Entain partnership with major Canadian rollout appeared first on Americas iGaming & Sports Betting News.

Continue Reading

BetMGM

Gaming Corps expands Entain partnership with major Canadian rollout

Published

on

gaming-corps-expands-entain-partnership-with-major-canadian-rollout

Gaming Corps, a publicly listed game development company based in Sweden, has expanded its partnership with Entain, one of the world’s largest sports betting and gaming groups, marking the latest phase of a relationship that began with the companies’ original partnership agreement in 2022 and now spans multiple Entain brands.

Canada is a major focus for the extended partnership. Gaming Corps went live with Entain’s Joint Venture, BetMGM in Ontario in December 2025, followed by a wider Entain rollout in the province in March 2026. Both are now preparing for the opening of Alberta’s regulated iGaming market in July, with the studio’s content ready to go live from day one with BetMGM and Party Casino & Sports Interaction following shortly after.

The partnership has also continued to grow internationally, with Gaming Corps completing a full content launch in Brazil with Sportingbet and Betboo in May of this year, followed by the exclusive launch of 3 Pigs of Olympus across Entain’s UK-facing Ladbrokes, Coral Gala and Foxy brands in June.

Additional market launches in Portugal, Spain and New Zealand are also being prepared.

The latest phase includes a mix of Gaming Corps’ most recognisable content, from football-themed titles such as Penalty Champion, Goals to Glory: Football Fever and Goals to Glory: Instant Blitz, to the studio’s high-performing 3 Pigs IP.

Graham Greensmith, Chief Commercial Officer at Gaming Corps, said: “For Gaming Corps, this is a huge milestone. Entain is one of the biggest names in global gaming, so to see our relationship grow in this way is a clear sign of the trust, performance and commercial value we have built together.

“What makes this particularly exciting is the scale of the opportunity. This is not a single-brand launch or a one-market rollout. Entain is continuing to take Gaming Corps content into more territories, across more of its brands, and that says a lot about where we are as a business.

“We have worked hard to build a portfolio that gives major operators real flexibility, from high-performing IP to timely, event-led content and new game formats. To see that strategy being recognised by a partner of Entain’s calibre is incredibly rewarding, and we are very excited about what comes next.”

Obdulio Bacarese, Global Gaming Director at Entain, added: “Gaming Corps has been a valuable partner over the last four years. The strength of the relationship lies in how easily the content can be activated around different commercial priorities, from supporting new market entries to adding timely releases around key calendar moments. The studio understands the need for content that is flexible, relevant and easy to position locally, and we are pleased to continue building on the partnership.”

The post Gaming Corps expands Entain partnership with major Canadian rollout appeared first on Americas iGaming & Sports Betting News.

Continue Reading

Trending

Get it on Google Play

Fresh slot games releases by the top brands of the industry. We provide you with the latest news straight from the entertainment industries.

The platform also hosts industry-relevant webinars, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - Recent Slot Releases is part of HIPTHER Agency. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania