PENN Entertainment advertising spend, FY2025
PENN Entertainment (PENN) reported $358M of advertising expense for the fiscal year ended Dec 31, 2025. That is 5.1% of revenue of $7B. Down 21.5% from FY2024.
Key facts
- Ad spend is 9.8x its FY2020 level ($36.7M), faster than revenue (1.9x).
- The highest year on file is FY2024 at $456M; FY2025 is 22% below it.
- Largest increase +163.4% in FY2024; largest cut -38.2% in FY2020.
- Ad spend is 5.1% of revenue, up from 1.0% in FY2020.
- PENN Entertainment spends more on advertising than 53% of the 336 US-listed companies tracked. Its ad-to-revenue ratio is close to the median of 5.2%.
Ad spend by fiscal year
Ad spend as % of revenue
History
Download CSV| Fiscal year | Period end | Ad spend | YoY | Revenue | Ad / revenue | Tag | Filing |
|---|---|---|---|---|---|---|---|
| FY2025 | Dec 31, 2025 | $358M | -21.5% | $7B | 5.1% | MarketingAndAdvertisingExpense | 10-K Feb 26, 2026 |
| FY2024 | Dec 31, 2024 | $456M | +163.4% | $6.6B | 6.9% | MarketingAndAdvertisingExpense | 10-K Feb 26, 2026 |
| FY2023 | Dec 31, 2023 | $173M | +82.8% | $6.4B | 2.7% | MarketingAndAdvertisingExpense | 10-K Feb 26, 2026 |
| FY2022 | Dec 31, 2022 | $94.8M | +7.5% | $6.4B | 1.5% | MarketingAndAdvertisingExpense | 10-K Feb 27, 2025 |
| FY2021 | Dec 31, 2021 | $88.2M | +140.3% | $5.9B | 1.5% | MarketingAndAdvertisingExpense | 10-K Feb 22, 2024 |
| FY2020 | Dec 31, 2020 | $36.7M | -38.2% | $3.6B | 1.0% | MarketingAndAdvertisingExpense | 10-K Feb 23, 2023 |
| FY2019 | Dec 31, 2019 | $59.4M | n/a | $5.3B | 1.1% | MarketingAndAdvertisingExpense | 10-K Feb 28, 2022 |
What the figure is
Marketing and advertising combined, as reported under the XBRL tag MarketingAndAdvertisingExpense.
Compared with similar spenders
The 6 companies closest to PENN Entertainment in latest-year ad spend.
| Rank | Company | Ad spend | Ad / revenue | YoY | Fiscal year |
|---|---|---|---|---|---|
| 152 | Chipotle Mexican Grill | $364M | 3.1% | +27.3% | FY2025 |
| 153 | Carvana | $363M | 1.8% | +58.5% | FY2025 |
| 154 | Goodyear Tire & Rubber | $362M | 2.0% | +10.7% | FY2025 |
| 155 | e.l.f. Beauty | $361M | 22.1% | +28.3% | FY2026 |
| 156 | Lionsgate Studios | $361M | 13.7% | +21.7% | FY2026 |
| 157 | PENN Entertainment | $358M | 5.1% | -21.5% | FY2025 |
| 158 | Yum China | $354M | 3.0% | +2.3% | FY2025 |
Questions
How much does PENN Entertainment spend on advertising?
PENN Entertainment spent $358M on advertising in fiscal 2025, the year ended Dec 31, 2025, according to its 10-K filed Feb 26, 2026.
What percentage of revenue does PENN Entertainment spend on advertising?
5.1% of revenue in fiscal 2025 ($358M of $7B). The median across the 336 companies tracked is 5.2%.
Is PENN Entertainment spending more on advertising?
No. Ad spend fell 21.5% in fiscal 2025 from fiscal 2024.
How does PENN Entertainment rank by advertising spend?
#157 of 336 US-listed companies with $100M or more in ad spend, ranked on each company's latest fiscal year.
What does PENN Entertainment's advertising figure include?
Marketing and advertising combined, as reported under the XBRL tag MarketingAndAdvertisingExpense.
Source
- Filing
- 10-K for FY2025, filed Feb 26, 2026
- Accession number
0000921738-26-000008- Company
- PENN Entertainment, Inc., CIK 921738, SIC 7011 (Hotels & Motels)
- Data
- SEC EDGAR XBRL company facts, retrieved Nov 4, 2026. Methodology.
- Cite
- PENN Entertainment advertising spend, FY2019-FY2025. Aleksei Trudov, io.trudov.com, from SEC EDGAR XBRL company facts (latest: 10-K filed Feb 26, 2026), retrieved Nov 4, 2026. https://io.trudov.com/company/penn-entertainment/advertising-spend/
- Download
- CSV, all years · CSV, all 336 companies