- New Program Empowers Members with Expanded Options to Earn and Redeem Rewards Across PENN’s Portfolio of Brands -

PENN Entertainment Inc., (Nasdaq: PENN) (“PENN” or the “Company”) today unveiled an enhanced customer loyalty program, PENN Play™, replacing its mychoice® branded program. The new program greatly expands the ways PENN’s 26 million loyalty members can earn and redeem rewards across the company’s portfolio of entertainment brands. PENN Play assets for media use are available to download here.

PENN Play further connects the Company’s brands under one loyalty program, making it easier than ever for members to earn, track, and redeem PENN Cash across a variety of gaming and entertainment experiences. PENN Cash, the company’s new loyalty currency, can be earned and redeemed through gaming, dining, shopping or staying at PENN destinations across the country — including Hollywood Casino, L’Auberge and M Resort — or by playing online with Barstool Sportsbook & Casino*, HollywoodCasino.com and PENNPlaycasino.com.

To celebrate the PENN Play launch, the company is rolling out a promotional campaign that will give away $1.5 million in PENN Cash and prizes to members. To enter for a chance to win, download the PENN Play app and visit here for more details.

Jay Snowden, Chief Executive Officer and President of PENN Entertainment, commented: “PENN’s business has transformed over the last few years as we’ve expanded our retail, online gaming and entertainment experiences. With the rebranding of our loyalty program to PENN Play, we are taking steps to better align all of our brands under the PENN umbrella and create a more seamless omni-channel experience for our customers, which we believe will have a meaningful impact on both our retail and online gaming performance.”

Highlights of the new PENN Play program include:

• Meaningful rewards are more accessible to everyone. Customers can begin earning just by signing up, including at the new Play tier level. Additional benefits and rewards are unlocked at each of five tier levels - Play, Advantage, Preferred, Elite and Owners Club.
• Access to a new marketplace featuring popular retailers where members can redeem gifts and earn tier points and PENN Cash on everyday items.
• Access to new, exciting perks and entertainment experiences with PENN partner brands, including Live Nation and Choice Hotels.
• A new rewards website and mobile app, which allow members to participate in exclusive promotions and track progress towards earning exciting rewards that can be redeemed anywhere they play.
• PENN Play is supported by the company’s industry leading cardless, cashless and contactless 3 C’s technology to better meet the preferences of customers.
• PENN Entertainment™ Mastercard® credit card sign-up incentives.

PENN HEROES

The rebrand also includes enhancements to PENN’s dedicated rewards program honoring our nation’s heroes. PENN Heroes, formerly myheroes, features more rewards and recognition for our nation’s active-duty military, veterans and first responders, including a PENN Play tier upgrade and discounts across hotels, dining and shopping at PENN locations. PENN Heroes has enrolled more than 182,000 members since launching in May of 2021.

* Customers will be able to redeem rewards with Barstool Sportsbook & Casino beginning later this Summer.

About PENN Entertainment

PENN Entertainment, Inc. (Nasdaq: PENN) is North America’s leading provider of integrated entertainment, sports content and casino gaming experiences. PENN operates 43 properties in 20 states, online sports betting in 17 jurisdictions and iCasino in five jurisdictions under a portfolio of well-recognized brands, including Hollywood Casino^®, L’Auberge^®, Barstool Sportsbook and Casino^® and theScore Bet Sportsbook and Casino^®. In 2023, PENN acquired Barstool Sports, Inc. (“Barstool”), which combined with the reach and highly engaged user base of Score Media and Gaming Inc. (“theScore”), creates a significant digital footprint and growing customer ecosystem. PENN’s highly differentiated strategy, which is focused on organic cross-sell opportunities, is reinforced by its investments in market-leading retail casinos, sports media assets and technology, including a state-of-the-art, fully integrated digital sports and online casino betting platform and an in-house iCasino content studio. The Company’s portfolio is further bolstered by its industry-leading PENN Play^™ customer loyalty program, which offers its approximately 26 million members a unique set of rewards and experiences across our various channels. PENN is deeply committed to fostering a culture that welcomes a diverse set of customers and dedicated team members. The Company has been consistently ranked in the top two as “Employer of First Choice” over the last nine years in the Bristol Associates-Spectrum Gaming’s Executive Satisfaction Survey. In addition, as a long-standing good corporate citizen, PENN is also committed to creating a culture of responsible gaming, being a trusted and valued member of its communities and acting as a responsible steward of our finite natural resources.

Forward Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward-looking terminology such as “expects,” “believes,” “estimates,” “projects,” “intends,” “plans,” “goal,” “seeks,” “may,” “will,” “should,” or “anticipates” or the negative or other variations of these or similar words, or by discussions of future events, strategies or risks and uncertainties. Specifically, forward-looking statements include, but are not limited to, statements regarding the Company’s expectations regarding the anticipated demerits of the new loyalty rewards program.

Such statements are all subject to risks, uncertainties and changes in circumstances that could significantly affect the Company’s future financial results and business. Accordingly, the Company cautions that the forward-looking statements contained herein are qualified by important factors that could cause actual results to differ materially from those reflected by such statements. Such factors include: the Company’s ability to roll out the loyalty program on the terms described herein, the effects of economic and market conditions in the markets in which the Company operates; competition with other entertainment, sports content, and casino gaming experiences; the timing, cost and expected impact of product and technology investments; risks relating to international operations, permits, licenses, financings, approvals and other contingencies in connection with growth in new or existing jurisdictions; and additional risks and uncertainties described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022, subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, each as filed with the U.S. Securities and Exchange Commission. The Company does not intend to update publicly any forward-looking statements except as required by law. Considering these risks, uncertainties and assumptions, the forward-looking events discussed in this press release may not occur.

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