Casino, sports betting and entertainment operator PENN Entertainment (NASDAQ: PENN) will be reporting earnings this Thursday before market hours. Here’s what you need to know.

PENN Entertainment missed analysts’ revenue expectations last quarter, reporting revenues of $1.72 billion, up 4.8% year on year. It was a disappointing quarter for the company, with a significant miss of analysts’ EBITDA estimates and a significant miss of analysts’ EPS estimates.

Is PENN Entertainment a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, the market is expecting PENN Entertainment’s revenue to grow 5.4% year on year, slowing from the 19.6% increase it recorded in the same quarter last year.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. PENN Entertainment has missed Wall Street’s revenue estimates multiple times over the last two years.

Looking at PENN Entertainment’s peers in the consumer discretionary - casino operator segment, some have already reported their Q4 results, giving us a hint as to what we can expect. MGM Resorts delivered year-on-year revenue growth of 6%, beating analysts’ expectations by 3.6%, and Monarch reported revenues up 4.1%, in line with consensus estimates. MGM Resorts traded up 3.3% following the results while Monarch was also up 2.3%.

Read our full analysis of MGM Resorts’s results here and Monarch’s results here.

The outlook for 2025 remains clouded by potential trade policy changes and corporate tax discussions, which could impact business confidence and growth. While some of the consumer discretionary - casino operator stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 2.3% on average over the last month. PENN Entertainment is down 8.8% during the same time and is heading into earnings with an average analyst price target of $18.29 (compared to the current share price of $12.67).

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