Penn Entertainment Isn’t Prioritizing Acquisitions

Penn Entertainment (NASDAQ: PENN) said it deal-making isn’t high atop its list of priorities with CEO Jay Snowden outlining several other options that rank higher than acquisitions. The regional casino operator reported third-quarter results earlier today and on its conference call with analysts, Snowden noted that Penn’s capital allocation priorities are deleveraging, examining increased stock repurchase activity and tending to four recently completed growth projects as well as the Hollywood Casino Hotel Council Bluffs in Iowa (2028) and Boomtown New Orleans (2029) rank ahead of acquisitions on the company’s to-do list.