BlackRock Amends PENN Entertainment Stake as of Dec 31, 2023

TL;DR

**BlackRock updated its PENN Entertainment stake, signaling its current institutional position.**

AI Summary

BlackRock Inc. filed an amended SC 13G/A on January 25, 2024, indicating a change in their ownership of PENN Entertainment, Inc. common stock as of December 31, 2023. This amendment, number 11, shows BlackRock's passive investment in the casino and online gaming company. This matters to investors because BlackRock is a major institutional investor, and changes in their holdings can signal their confidence (or lack thereof) in the company's future prospects, potentially influencing other investors.

Why It Matters

This filing shows BlackRock's updated ownership in PENN Entertainment, providing transparency on a significant institutional investor's position, which can influence market sentiment.

Risk Assessment

Risk Level: low — This is a routine disclosure of an institutional investor's holdings and does not indicate any immediate financial risk to the company.

Analyst Insight

Investors should note BlackRock's continued, albeit potentially adjusted, passive stake in PENN Entertainment. While this filing doesn't detail the exact change in shares or percentage, it confirms BlackRock's ongoing institutional interest. Smart investors might look for the full details of the ownership change within the complete filing to assess BlackRock's updated conviction.

Key Players & Entities

• BlackRock Inc. (company) — the institutional investor filing the SC 13G/A
• PENN Entertainment, Inc. (company) — the subject company whose stock is being reported
• December 31, 2023 (date) — the date of the event requiring the filing
• January 25, 2024 (date) — the filing date of the SC 13G/A
• Amendment No: 11 (number) — the specific amendment number for this filing

FAQ

From the Filing

0001086364-24-003302.txt : 20240125 0001086364-24-003302.hdr.sgml : 20240125 20240125134852 ACCESSION NUMBER: 0001086364-24-003302 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240125 DATE AS OF CHANGE: 20240125 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PENN Entertainment, Inc. CENTRAL INDEX KEY: 0000921738 STANDARD INDUSTRIAL CLASSIFICATION: HOTELS & MOTELS [7011] ORGANIZATION NAME: 05 Real Estate & Construction IRS NUMBER: 232234473 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-45655 FILM NUMBER: 24561069 BUSINESS ADDRESS: STREET 1: 825 BERKSHIRE BLVD STE 200 STREET 2: WYOMISSING PROFESSIONAL CENTER CITY: WYOMISSING STATE: PA ZIP: 19610 BUSINESS PHONE: 6103732400 MAIL ADDRESS: STREET 1: 825 BERKSHIRE BLVD STREET 2: SUITE 200 CITY: WYOMISSING STATE: PA ZIP: 19610 FORMER COMPANY: FORMER CONFORMED NAME: PENN NATIONAL GAMING INC DATE OF NAME CHANGE: 19940415 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Inc. CENTRAL INDEX KEY: 0001364742 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211] ORGANIZATION NAME: 02 Finance IRS NUMBER: 320174431 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 BUSINESS PHONE: 212-810-5300 MAIL ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 FORMER COMPANY: FORMER CONFORMED NAME: BlackRock, Inc. DATE OF NAME CHANGE: 20060929 FORMER COMPANY: FORMER CONFORMED NAME: New BlackRock, Inc. DATE OF NAME CHANGE: 20060601 SC 13G/A 1 us7075691094_012524.txt us7075691094_012524.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No: 11) PENN Entertainment, Inc. -------------------------------------------------------- (Name of Issuer) Common Stock -------------------------------------------------------- (Title of Class of Securities) 707569109 -------------------------------------------------------- (CUSIP Number) December 31, 2023 -------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 707569109 (1)Names of reporting persons. BlackRock, Inc. (2) Check the appropriate box if a member of a group (a) [ ] (b) [X] (3) SEC use only (4) Citizenship or place of organization Delaware Number of shares beneficially owned by each reporting person with: (5) Sole voting power 12365398 (6) Shared voting power 0 (7) Sole dispositive power 13009868 (8) Shared dispositive power 0 (9) Aggregate amount beneficially owned by each reporting person 13009868 (10) Check if the aggregate amount in Row (9) excludes certain shares (11) Percent of class represented by amount in Row 9 8.6% (12) Type of reporting person HC Item 1. Item 1(a) Name of issuer: ----------------------------------------------------------------------- PENN Entertainment, Inc. Item 1(b) Address of issuer's principal executive offices: ----------------------------------------------------------------------- 825 BERKSHIRE BLVD, SUITE 200 WYOMISSING PA 19610 Item 2. 2(a) Name of person filing: ---