SCHEDULE: BlackRock Reports Stake in PENN Entertainment

BlackRock, Inc. has updated its Schedule 13G filing, reporting beneficial ownership of 14.1% of PENN Entertainment, Inc. common stock as of June 30, 2026.

Summary

• BlackRock, Inc. has filed an amendment to its Schedule 13G, indicating its beneficial ownership of PENN Entertainment, Inc. common stock.
• As of June 30, 2026, BlackRock beneficially owns 18,833,641 shares, representing 14.1% of the class.
• The filing specifies that BlackRock has sole voting power over 18,632,482 shares and sole dispositive power over 18,833,641 shares.
• The filing is an amendment to a previous filing and does not indicate a change in control or purpose other than ordinary course of business.
• iShares Core S&P Small-Cap ETF is identified as having an interest of more than five percent in the common stock of PENN Entertainment, Inc.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral to slightly positive score, as it represents a routine disclosure of a significant institutional holding by a major asset manager, indicating ongoing investment rather than a new development or a change in strategy.

Positives

• BlackRock, a major institutional investor, maintains a significant stake in PENN Entertainment, Inc., suggesting confidence in the company's long-term prospects.
• The filing confirms that BlackRock's holdings are managed in the ordinary course of business, without intent to influence control.

Risks

• The filing does not contain specific risk factors related to PENN Entertainment, Inc. itself, as it is a disclosure of beneficial ownership by BlackRock.

Future Outlook

The filing does not contain forward-looking statements or guidance from PENN Entertainment, Inc. It is a disclosure of beneficial ownership by BlackRock, Inc.

Management Comments

• "In accordance with SEC Release No. 34-39538 (January 12, 1998), this Schedule 13G reflects the securities beneficially owned, or deemed to be beneficially owned, by certain business units (collectively, the 'Reporting Business Units') of BlackRock, Inc. and its subsidiaries and affiliates. It does not include securities, if any, beneficially owned by other business units whose beneficial ownership of securities are disaggregated from that of the Reporting Business Units in accordance with such release."
• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11."

Industry Context

StockSavvy.ai notes that significant holdings by large asset managers like BlackRock often signal institutional confidence in a company's sector and its specific strategic positioning. PENN Entertainment operates in the highly competitive and regulated gaming and entertainment industry, where such institutional backing can be a key indicator of stability and growth potential.

Stakeholder Impact

• Shareholders: The continued significant investment by BlackRock may be viewed positively, potentially supporting share price stability and indicating institutional confidence.
• Management: The presence of a large institutional shareholder like BlackRock can influence corporate governance and strategic decisions.
• Creditors: A stable institutional investor base can be seen as a positive sign for the company's financial health and access to capital.

Next Steps

• BlackRock will continue to monitor its beneficial ownership of PENN Entertainment, Inc. common stock.
• Any future changes in beneficial ownership exceeding reporting thresholds will require further filings.

Key Dates

Keywords

PENN Entertainment, BlackRock, Schedule 13G, Beneficial Ownership, Institutional Investor, Common Stock, Investment Management, Securities Disclosure