Penn Entertainment has introduced its new customer loyalty program, Penn Play, which replaces the previous mychoice branded program. With the aim of creating a more seamless omni-channel experience for its 26 million loyalty members, Penn Play allows customers to earn and redeem rewards across various gaming and entertainment options.
Penn Play Unifies Loyalty Programs:
Penn Play consolidates the loyalty programs of all Penn Entertainment’s brands into one comprehensive loyalty program. This initiative is designed to simplify the process of earning, tracking, and redeeming rewards across a wide range of gaming and entertainment activities.
Penn Cash: A Universal Loyalty Currency:
The backbone of Penn Play is Penn Cash, a new loyalty currency that can be earned and redeemed through multiple avenues. Customers can accrue Penn Cash through gaming, dining, shopping, and staying at Penn destinations across the United States. Additionally, online gaming with platforms like Barstool Sportsbook & Casino, HollywoodCasino.com, and PENNPlaycasino.com also contributes to earning Penn Cash.
Enhanced Accessibility with New Website and Mobile App:
Penn Play offers customers a user-friendly rewards website and mobile app, which provide access to exclusive promotions. These tools make it easier for loyalty members to track and redeem their rewards seamlessly across the various activities offered by Penn Entertainment.
Jay Snowden’s Vision:
Jay Snowden, the CEO and President of Penn Entertainment, expressed the transformation of Penn’s business over recent years as it expanded its gaming, retail, and entertainment offerings. The rebranding of the loyalty program to Penn Play is part of a strategic effort to align all the company’s brands under the Penn umbrella. The primary goal is to provide a more streamlined and unified omni-channel experience for customers. This initiative is expected to significantly impact both the retail and online gaming sectors within the company.
Financial Performance:
In the company’s fourth-quarter financial results, Penn Entertainment reported revenue of $1.6 billion, representing a 0.8% increase compared to the same period in 2021. Net income, however, showed a decrease to $20.8 million, down from $44.8 million reported in Q4 2021.
Acquisition of Barstool Sports:
Penn Entertainment recently completed the acquisition of Barstool Sports. Initially acquiring a 36% stake in February 2020, the company acquired the remaining interest for approximately $388 million. This strategic move allowed Penn Entertainment to develop an omnichannel strategy for the Barstool Sports brand, launching Barstool Sportsbook in 15 states and retail-branded Barstool Sportsbooks at its properties across the United States.
Penn Entertainment’s introduction of the Penn Play loyalty program is set to redefine the customer experience, creating a unified approach to loyalty across its diverse gaming and entertainment offerings. Penn Cash, the universal loyalty currency, provides customers with flexibility in earning and redeeming rewards. With a user-friendly website and mobile app, Penn Play aims to enhance customer engagement. The company’s financial results and the acquisition of Barstool Sports reflect its commitment to strategic growth in the gaming and entertainment industry, offering an integrated and comprehensive experience for customers.