PENN Entertainment, Inc. (NASDAQ:PENN) Q3 2022 Earnings Conference Call November 3, 2022 9:00 AM ET

Company Participants

Joe Jaffoni – Investor Relations

Jay Snowden – Chief Executive Officer

Felicia Hendrix – Chief Financial Officer

Todd George – Head-Operations

Conference Call Participants

Omer Sander – JPMorgan

Shaun Kelley – Bank of America

Barry Jonas – Truist Securities

Steve Wieczynski – Stifel

Ryan Sigdahl – Craig-Hallum Capital

David Katz – Jefferies

Jason Tilchen – Canaccord Genuity

Bernie McTernan – Needham & Company

Jordan Bender – JMP Securities

Joe Stauff – Susquehanna

Operator

Greetings, and welcome to the PENN Entertainment Third Quarter Results Conference Call. During the presentation, all participants will be in a listen-only mode. Afterwards, we’ll 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 2022 third quarter conference call. We’ll get to management’s presentations and comments momentarily as well as your Q&A. 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. In addition to historical facts or statements of current conditions, today’s conference call contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties.

These statements can be identified by the use of forward-looking terminologies such as expects, believes, estimates, projects, intends, plans, seeks, may, will, should or anticipates or the negative or other variations of these or similar words or by discussions of future events, strategies or risks and uncertainties, including future plans, strategies, performance, developments, acquisitions, capital expenditures and operating results.

Such forward-looking statements reflect the company’s current expectations and beliefs but are not guarantees of future performance. As such, actual results may vary materially from expectations. The risks and uncertainties associated with the forward-looking statements are described in today’s news announcement and in the company’s filings with the Securities and Exchange Commission, including the company’s reports on Form 10-K and Form 10-Q.

PENN National assumes no obligation to publicly update or revise any forward-looking statements. Today’s call and webcast will include non-GAAP financial measures within the meaning of SEC Regulation G. When required, a reconciliation of all non-GAAP financial measures to the most directly comparable financial measures calculated and presented in accordance with GAAP can be found in today’s press release as well as on the company’s website.