PENN Entertainment shares are trading higher after the company reported better-than-expected Q2 financial results and announced an exclusive U.S. online sports betting agreement with ESPN.
Portfolio Pulse from Benzinga Newsdesk
PENN Entertainment reported better-than-expected Q2 financial results and announced an exclusive U.S. online sports betting agreement with ESPN. This has led to a rise in the company's shares.
August 09, 2023 | 12:50 pm
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PENN Entertainment's shares are trading higher due to better-than-expected Q2 results and an exclusive online sports betting agreement with ESPN.
PENN Entertainment's better-than-expected Q2 results indicate a strong financial performance, which is a positive signal to investors. Additionally, the exclusive agreement with ESPN for online sports betting could potentially increase the company's market share and revenues, leading to a positive impact on the stock price.
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