PENN Entertainment, formerly known as casino and sports betting giant Penn National Gaming, has revealed that it is “very encouraged” by its mywallet cardless and cashless solution and has a vision to have a single wallet available across all of its retail and digital offerings by the year 2024. This goal was revealed as the company discussed how it plans to roll out its new name.

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Expanding their Technological Presence 

The casino and entertainment operator is looking to expand the rollout of the technology from its present nine venues across three states to twelve additional facilities by the end of this year. This would bring the total number of locations where the technology is used to twenty-two. “more and more individuals” are signing up for the mychoice app and the mywallet capabilities, according to Jay Snowden, the group’s Chief Executive Officer and President. This is despite the fact that Jay Snowden has “not shared a whole lot in terms of the early findings.”

In addition, it is stated that one of the many reasons why they decided to acquire theScore is because there is a technology company, and they have an amazing technology team, which, when combined with the team at Penn Interactive and the company team here at corporate on the engineering and product side, makes for an incredible combination.

Perceiving Significant Value to Technological Development

The company said that they would anticipate going live with three Cs across all of its businesses, land-based, and having that wallet capability across all of the various business verticals as soon as regulatory approval was received. They are already beginning to perceive a significant amount of value on the upside to this technology development, despite the fact that it is going to take them a little bit to get there.

This comes as a result of the group announcing that they had a “strong quarter with consistent performance throughout the portfolio.” As a result of this, the company was able to beat the consensus on both revenues and EBITDAR while also generating sequential upside over the previous quarter. Penn attributed this to the performance of its interactive sector as well as solid profits at retail operations amid difficult competition as compared to the second quarter of the previous year.

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