In this photo illustration, the Penn Entertainment logo is displayed on a smartphone mobile screen.
Rafael Henrique | SOPA Images | Lightrocket | Getty Images
Penn Entertainment on Thursday became the first U.S. gambling company to post a profit in its sports betting business during the final three months of a year.
Usually, it’s tougher to turn a sportsbook profit during the third and fourth quarters because companies spend more on marketing and promotions during football season.
Penn’s interactive business, which also includes online casino games, made a $5.2 million profit on $208 million in revenue during the fourth quarter of 2022. The performance helped lift the company’s overall revenue for the period by nearly 1% to $…
Read the full article at: https://www.cnbc.com/2023/02/02/penn-sports-betting-fourth-quarter-profit.html