Aug 9 (Reuters) - Penn Entertainment (PENN.O) reported a better-than-expected quarterly profit on Wednesday, as visitors return to its casinos and demand for online sports betting rises.
Shares of the company rose ~15% in premarket hours.
Sports betting is live in 34 states and Washington, D.C. and is legal but not yet operational in another four, according to the American Gaming Association.
Revenue from Penn's "Interactive segment," which includes online sports betting, increased 66.2% in the second quarter ended June 30.
Penn reported a net profit of 48 cents per share for the reported quarter, compared with expectations of 42 cents per share, as per Refinitiv data.
Persons:
Walt Disney's, Jay Snowden, Penn, Aishwarya Jain, Shailesh
Organizations:
Penn Entertainment, Tuesday, ESPN, ESPN Bet, Sports, American Gaming Association, Revenue, Penn's, Thomson
Locations:
United States, Washington