Earnings results often indicate what direction a company will take in the months ahead. With Q4 behind us, let’s have a look at PENN Entertainment (NASDAQ: PENN) and its peers.
Casino operators enjoy limited competition because gambling is a highly regulated industry. These companies can also enjoy healthy margins and profits. Have you ever heard the phrase ‘the house always wins’? Regulation cuts both ways, however, and casinos may face stroke-of-the-pen risk that suddenly limits what they can or can't do and where they can do it. Furthermore, digitization is changing the game, pun intended. Whether it’s online poker or sports betting on your smartphone, innovation is forcing these players to adapt to changing consumer preferences, such as being able to wager anywhere on demand.
The 9 casino operator stocks we track reported a mixed Q4. As a group, revenues beat analysts’ consensus estimates by 0.9%.
Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 12.6% since the latest earnings results.
PENN Entertainment (NASDAQ: PENN)
Established in 1982, PENN Entertainment (NASDAQ: PENN) is a diversified American operator of casinos, sports betting, and entertainment venues.
PENN Entertainment reported revenues of $1.67 billion, up 19.6% year on year. This print was in line with analysts’ expectations, but overall, it was a softer quarter for the company with a significant miss of analysts’ EBITDA and EPS estimates.
Jay Snowden, Chief Executive Officer and President, said: “PENN’s fourth quarter property-level operating results reflect solid performance, as properties not impacted by new supply generated nearly 3% year-over-year revenue growth. Despite well-known, customer friendly sports betting outcomes during the quarter, our Interactive segment delivered significant year-over-year improvements in revenue and Adjusted EBITDA driven by our disciplined promotional strategies and accelerated growth in our online Casino business. The success in our iCasino business is bolstered by the continued strong momentum from the recent launches of our standalone Hollywood Casino app in Pennsylvania and Michigan. We are excited by the opportunities that lie in front of us in 2025 and into 2026 in all aspects of our business and are announcing this morning our intent to repurchase at least $350 million of shares this year.
PENN Entertainment achieved the fastest revenue growth of the whole group. Still, the market seems discontent with the results. The stock is down 8.9% since reporting and currently trades at $16.16.
Read our full report on PENN Entertainment here, it’s free.
Best Q4: Monarch (NASDAQ: MCRI)
Established in 1993, Monarch (NASDAQ: MCRI) operates luxury casinos and resorts, offering high-end gaming, dining, and hospitality experiences.
Monarch reported revenues of $134.5 million, up 4.9% year on year, outperforming analysts’ expectations by 4.4%. The business had a very strong quarter with a solid beat of analysts’ EPS estimates and an impressive beat of analysts’ adjusted operating income estimates.
Monarch pulled off the biggest analyst estimates beat among its peers. Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 8.9% since reporting. It currently trades at $78.09.
Is now the time to buy Monarch? Access our full analysis of the earnings results here, it’s free.
Weakest Q4: Bally's (NYSE: BALY)
Headquartered in Providence, Rhode Island, Bally's Corporation (NYSE: BALY) is a diversified global casino-entertainment company that owns and manages casinos, resorts, and online gaming platforms.
Bally's reported revenues of $580.4 million, down 5.1% year on year, falling short of analysts’ expectations by 1.9%. It was a disappointing quarter as it posted a significant miss of analysts’ adjusted operating income and EPS estimates.
The stock is flat since the results and currently trades at $13.
Read our full analysis of Bally’s results here.
Caesars Entertainment (NASDAQ: CZR)
Formerly Eldorado Resorts, Caesars Entertainment (NASDAQ: CZR) is a global gaming and hospitality company operating numerous casinos, hotels, and resort properties.
Caesars Entertainment reported revenues of $2.80 billion, flat year on year. This result lagged analysts' expectations by 1.1%. More broadly, it was actually a very strong quarter as it produced a solid beat of analysts’ EPS estimates and an impressive beat of analysts’ adjusted operating income estimates.
The stock is down 28.3% since reporting and currently trades at $25.
Read our full, actionable report on Caesars Entertainment here, it’s free.
Wynn Resorts (NASDAQ: WYNN)
Founded by the former Mirage Resorts CEO, Wynn Resorts (NASDAQ: WYNN) is a global developer and operator of high-end hotels and casinos, known for its luxurious properties and premium guest services.
Wynn Resorts reported revenues of $1.84 billion, flat year on year. This print topped analysts’ expectations by 2.8%. Overall, it was a strong quarter as it also produced an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ adjusted operating income estimates.
The stock is up 4.4% since reporting and currently trades at $84.02.
Read our full, actionable report on Wynn Resorts here, it’s free.
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