Penn National Gaming Stocks Plummet Due to ESPN Bet Losses

Penn Entertainment's stock plummeted 15.8% after reporting a disappointing fourth-quarter financial performance, marked by a significant revenue decline and a substantial loss. The company's struggles were attributed to the sale of Barstool, losses from relaunching an online betting business, and overall revenue decreases in key segments. With increasing competition in online gaming and challenges in regional markets, the company faces significant hurdles, prompting doubts about its future prospects.