Penn Entertainment's stock surged 5.96% in pre-market trading following the release of its first-quarter financial results, which exceeded analyst expectations.

The company reported quarterly adjusted earnings of $0.11 per share, beating the consensus estimate of $0.07. Revenue for the quarter reached $1.779 billion, surpassing the expected $1.75 billion and representing a 6.4% increase year-over-year. The performance was driven by increased customer visitation and higher spending per visit across its retail casino portfolio.

Management highlighted continued momentum in the Interactive segment, with iCasino revenue growing approximately 15% year-over-year. The company also provided a positive outlook, anticipating stable retail trends and the planned July launch of regulated iCasino and online sports betting in Alberta, subject to regulatory approvals.