05:13 PM EDT, 10/07/2024 (MT Newswires) -- Penn Entertainment ( PENN ) reported preliminary Q3 retail operations adjusted earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs of between $465 million and $475 million, according to a Monday filing.

This outlook reflects a negative impact of $10 million driven by unfavorable hold rates in the Northeast segment and falling volumes in the South segment due to severe weather disruptions and hotel remodeling, the company said.

Penn said it also improved its estimates for Q3 interactive adjusted EBITDA to a range of negative $100 million to negative $90 million from negative $135 million to negative $115 million due to a better-than-expected hold driven by a higher parlay mix and lower promotional expenses.

Shares of the company rose 1.5% in after-hours activity.

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