Sports Mattress Mack's record $75 million Astros payout will cost Caesars, Penn big this quarter Published Mon, Nov 7 2022 12:03 PM EST [CNBC]
PENN Entertainment, Inc. (PENN)
Last penn entertainment, inc. earnings: 2/6 07:00 am
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Source: CNBC
Jim “Mattress Mack” McIngvale, the Texas furniture salesman who famously hedges his sports bets with furniture promotions , placed $10 million on his beloved Houston Astros to win this year's World Series, across several wagers. With the Astros' second-ever World Series win on Saturday, McIngvale clinched a $75 million payout. Of that total, Caesars will take the biggest hit, paying out $30 million from McIngvale's May 13 bet on the Astros for $3 million at 10-1 odds. This content is blocked because you are not allowing cookies. To view this content, click on Manage Cookie Preferences here or at the bottom of the page to allow all cookies. “I think most of you are aware, we've got a fairly high-profile liability out there with the Astros. So that will be a swing factor in whether fourth quarter is positive as a whole,” Caesars CEO Tom Reeg warned on the company's Nov. 1 earnings call Penn Entertainment CEO Jay Snowden on the company's Nov. 3 earnings call similarly warned a
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- PENN Entertainment (NASDAQ:PENN) shareholders are up 7.2% this past week, but still in the red over the last three years [Yahoo! Finance]Yahoo! Finance
- PENN Entertainment Publishes 2023 Corporate Social Responsibility Report [Yahoo! Finance]Yahoo! Finance
PENN
Earnings
- 2/15/24 - Miss
PENN
Sec Filings
- 4/23/24 - Form ARS
- 4/23/24 - Form DEF
- 4/23/24 - Form DEFA14A
- PENN's page on the SEC website