PENN Entertainment, Inc. (NASDAQ:PENN) Q2 2023 Results Conference Call August 9, 2023 9:00 AM ET

Company Participants

Joe Jaffoni - IR

Jay Snowden - CEO

Felicia Hendrix - CFO

Todd George - Head of Operations

Chris Rogers - EVP, Chief Strategy Officer

Conference Call Participants

Barry Jonas - Truist Securities

Carlo Santarelli - Deutsche Bank

Bernie McTernan - Needham & Company

Chad Beynon - Macquarie

Joe Greff - JPMorgan

Ryan Sigdahl - Craig-Hallum Capital

Shaun Kelley - Bank of America

Steve Wieczynski - Stifel

Joe Stauff - Susquehanna

Brandt Montour - Barclays

John DeCree - CBRE

Stephen Grambling - Morgan Stanley

David Katz - Jefferies

Jason Tilchen - Canaccord Genuity

Operator

Greetings. And welcome to the PENN Entertainment Second Quarter and ESPN Transaction Conference Call. During the presentation all participants will be in the listen-only mode. Afterwards, we will conduct a question-and-answer session. [Operator Instructions]

I would now like to turn the conference over to Mr. Joe Jaffoni, Investor Relations. Please go ahead.

Joe Jaffoni

Thank you, Frank. Good morning, everyone, and thank you for joining PENN Entertainment’s second quarter and ESPN transaction conference call. We’ll get to management’s presentation and comments momentarily, as well as your questions and answers. During the Q&A, we ask that everyone please limit themselves to one question and one follow-up. Now, I’ll review the Safe Harbor disclosure.

Please note that today’s discuss contains forward-looking statements. Forward-looking statements involve risks, assumptions and uncertainties that could cause action results to differ materially. For more information, please see our press release and for details on specific risk factors.

With that, it’s now my pleasure to turn the call over to the Company’s CEO, Jay Snowden. Jay, please go ahead.

Jay Snowden

Thanks, Joe. Good morning and thank you for joining us. Last night we announced [Technical Difficulty] exclusive long-term agreement with U.S. online sports betting with the worldwide leader in sports, ESPN. I’m here this morning in New York City with my executive management team, including our CFO, Felicia Hendrix; our Head of Operations, Todd George; and Chris Rogers, who oversees Business Development and Strategy at PENN, and worked very closely with me on the establishment and structure of this partnership with ESPN.

I’ll try to focus my comments this morning primarily talking about this transformational agreement and the future launch of ESPN Bet. So, we’ll take questions when I conclude my prepared remarks about any and all aspects of our business. We look forward to combining PENN’s operational expertise, wholly-owned and cutting edge proprietary tech stack, expansive market access, and rapidly growing PENN Play database with the number one sports brand in both, the U.S. and Canada with ESPN and theScore.