Penn Entertainment restructures leadership as focus shifts to iCasino growth

• Penn Entertainment eliminates two senior executive positions as part of corporate restructuring following ESPN Bet termination.
• Executive Vice President of Operations Todd George and Chief Information Officer Rich Primus step down from their roles, which are eliminated.
• The reorganisation reflects a shift toward an online casino-led interactive strategy and Hollywood iCasino product in the US.

Penn Entertainment has implemented a new corporate organisational structure following the termination of its ESPN Bet partnership, with two senior executives stepping down as the company pivots toward an online casino-focused interactive strategy.

As part of the changes, Executive Vice President of Operations Todd George and Senior Vice President and Chief Information Officer Rich Primus have stepped down from the business, with both roles to be eliminated.

The reorganisation reflects Penn’s shift toward an online casino-led interactive strategy whilst reinforcing the company’s core retail casino business and broader omnichannel model across North America.

The post-ESPN Bet restructuring realigns Penn’s interactive focus toward its digital assets in Canada and its Hollywood iCasino product in the US.

Leadership changes and strategic realignment

Jay Snowden, Penn’s Chief Executive Officer and President, stated:

“As we turn the calendar to 2026, we are restructuring our corporate organization in order to achieve greater operational efficiencies, deepen customer engagement across channels, maximize free cash flow, and drive shareholder value.”

George spent more than 13 years with the company, most recently overseeing the successful opening of Hollywood Casino Joliet and the second hotel tower at the M Resort. Primus served as CIO for more than 10 years, developing Penn’s strategic technology plan and cybersecurity framework.

“Both Todd and Rich have made significant contributions to PENN’s evolution over the past decade and helped build the strong foundation we have in place today,” Snowden added.

“On behalf of the Company’s Board of Directors, I want to express my appreciation for their dedication and efforts to PENN over the years and wish them well in their future endeavors.”

Regional operational oversight remains with Senior Vice Presidents Rafael Verde, Aaron Rosenthal and Justin Carter. Chief Marketing Officer Jennifer Weissman will report to Snowden, focusing on maximising omnichannel results and enhancing the Penn Play loyalty program.

Technology consolidation

Aaron LaBerge, Penn’s Chief Technology Officer and Head of Interactive, will assume responsibility for enterprise IT functions in addition to his current responsibilities. This unified technology organisation will align Penn’s retail, digital, data, cloud and security platforms under a single leadership structure.

Penn has commenced a search for a new digital Chief Operating Officer to oversee day-to-day operations of the interactive segment.

The organisational changes are effective immediately and are supported by the company’s Board of Directors. Penn will provide an update on anticipated annualised cost savings and improved free cash flow generation when it reports fourth-quarter 2025 financial results in February 2026.

Market reaction and analyst perspectives

Investing.com reported that Penn Entertainment stock rose 2.4% in after-hours trading on Monday following the restructuring announcement. However, the company has faced challenges over the past year.

Analysts at Stifel reiterated their Buy rating on Penn shares and maintained their $21 price target, citing improving retail fundamentals and a steady iCasino ramp, as reported by Casino.org.

“While we await a more fulsome update at Q4, we believe leadership changes can be read favourably to execution on the broader Interactive fixed cost reduction opportunity discussed on the Q3 call and subsequent competitor sell-side conferences,” Stifel noted.

Penn shares closed at $15.14 on 5 January. The company’s market capitalisation stands at approximately $2 billion.

Context of ESPN Bet exit

The organisational changes arrived two months after the company and ESPN agreed to terminate their US online sports betting agreement. In November, Penn Entertainment ended its ESPN Bet partnership early after failing to reach market share goals.

ESPN and Penn mutually agreed to the early termination of their partnership, which initially was a 10-year deal set to go through 2033. Penn paid $150 million per year for ESPN’s media, marketing and the exclusive right to ESPN Bet.

ESPN BET officially closed on 1 December 2025, as Penn rebranded its platform to theScore Bet. The rebrand coincided with Missouri launching sports betting, becoming the 39th state to offer legalised sports betting.

According to Sports Betting Dime, ESPN Bet never reached its goal of being a top-three platform, consistently maintaining less than 5% market share. Penn retained 2.9 million digital users acquired during the partnership.

Business outlook

Penn Entertainment operates in 28 jurisdictions throughout North America, with a broadly diversified portfolio of casinos, racetracks, and online sports betting and iCasino offerings.

Inside Bitcoins notes that whilst sports betting has been a source of frustration for Penn, the company’s iGaming business has been quietly thriving. Hollywood Casino, Penn’s primary online casino brand, has shown consistent growth across multiple states, particularly in Michigan, New Jersey and Pennsylvania.

Wall Street will be watching closely when Penn reports Q4 earnings in late February. For full-year 2026, analysts are forecasting a return to profitability.