As Penn National Gaming rebranded itself as Penn Entertainment and reported first-half earnings, it outlined actions it would take if economic conditions hit its business, including potential layoffs.
In its 2022 earnings call, the company focused specifically on its recession outlook and what this means for its business.
Chief Executive Jay Snowden argued, citing historical data, that as a regional operator, Penn would prove resilient to these conditions.
“The local market performed much better than the Las Vegas Strip after the 2007-08 recession,” he said.
Additionally, Snowden said geographical diversification helps insulate the business from market conditions.
The Pennsylvania chief also said the company is ready to take aggressive cost-cutting measures, including layoffs, if earnings slow.
