PENN Entertainment Inc ( PENN ) shares appear to be getting a lift Tuesday after the company announced new retail operations guidance.

What Happened: Penn Entertainment ( PENN ) held an investor event in Las Vegas on Monday, discussing the company's business strategy, operations and other key developments. In connection with the event, Penn updated its guidance in a new regulatory filing.

Penn said it expects third-quarter retail operations adjusted EBITDAR to be in the range of $465 million to $475 million. The company also raised its interactive adjusted EBITDA guidance for the third quarter. Penn anticipates a loss of $90 million to $100 million, up from prior guidance for a loss of $115 million to $135 million. The company noted that improving product and lower promotional expenses accounted for the upside.

Penn also scheduled its third-quarter financial results for before the market open on Nov. 7. Analysts currently expect the company to report a quarterly loss of 26 cents per share and revenue of $1.684 billion, according to estimates from Benzinga Pro.

Following the guidance update, Needham analyst Bernie McTernan reiterated Penn Entertainment ( PENN ) with a Buy rating and maintained a price target of $26.

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PENN Price Action: Penn Entertainment ( PENN ) shares were up 0.70% at $18.70 at the time of publication, according to Benzinga Pro.