PENN Entertainment, Inc. (PENN) — ESG & Values Scores

Environment story

PENN discloses minimal environmental data. No Scope 1, 2, or 3 emissions figures are reported in the 10-K; net-zero target date is absent; no verified decarbonization infrastructure investments documented. The company acknowledges exposure to climate change risks (severe weather, natural disasters) affecting property operations in multiple jurisdictions, but provides no emissions baseline, reduction roadmap, or climate transition plan. Environmental governance mentions compliance with 'environmental laws' generically but lacks specificity on carbon management or sustainability commitments. Absence of disclosed emissions metrics and net-zero target triggers maximum deductions under the deterministic rubric.

Criticisms on file

Absence of Scope 1, 2, 3 emissions disclosure; no net-zero commitment or target year stated in 10-K filing.
Source: PENN 10-K 2025, Item 1A Risk Factors and MD&A; no sustainability report referenced.
Climate change exposure acknowledged but no mitigation strategy, renewable energy procurement targets, or carbon reduction roadmap disclosed.
Source: PENN 10-K 2025, Item 1A Risk Factors: 'We operate facilities that are located in areas that experience extreme weather conditions.'

Disclosed initiatives

Climate Risk Disclosure

Company acknowledges exposure to climate change risks including severe storms, hurricanes, rising sea levels, and drought affecting retail property operations across 28 jurisdictions.

Risk awareness noted; no operational mitigation metrics provided.
Environmental Compliance

Subject to 'environmental laws and potential exposure to environmental liabilities' and 'risks and costs related to climate change regulations' per Risk Factors section.

Reactive stance; no proactive decarbonization or renewable energy transition disclosed.

Social story

PENN employs 23,441 full- and part-time employees with 4,286 (18.3%) covered by 35 collective bargaining agreements. No CEO-to-median-worker pay ratio disclosed; no explicit union-suppression activity documented, though 15 collective bargaining agreements expire in 2026, creating negotiation risks. Leadership and workforce diversity percentages are not disclosed in the 10-K. Supply-chain ethical audits are undisclosed; no documented human-rights due diligence on gaming equipment suppliers or third-party vendors. Positive factors include structured talent development programs (LEAP internship, PENN Fellowship SkillBridge program, leadership training, mentorship), commitment to equal opportunity workplace, and PENN Scholarship Fund. Absence of diversity metrics and CEO pay ratio disclosure results in moderate deductions.

Criticisms on file

No CEO-to-median-worker pay ratio disclosed in 10-K; unable to assess executive compensation relativity.
Source: PENN 10-K 2025; CEO pay data not provided in Item 7 MD&A or proxy-related sections.
Workforce and leadership diversity percentages not disclosed (women, underrepresented groups); no DEI program metrics reported.
Source: PENN 10-K 2025; Item 8 (Human Capital Resources) does not include diversity breakdowns.
15 collective bargaining agreements scheduled to expire in 2026; company acknowledges 'no assurance' of renewal on comparable terms; potential for labor disruptions cited.
Source: PENN 10-K 2025, Item 1A Risk Factors: 'We face risks related to collective bargaining activity and strikes.'
Labor unions actively recruiting gaming industry employees; company acknowledges union activity attempts and uncertainty over future unionization impact.
Source: PENN 10-K 2025, Item 1A Risk Factors: 'Labor unions are making a concerted effort to recruit more employees in the gaming industry.'
No documented supply-chain ethics audit, human-rights assessment, or modern slavery statement disclosed for gaming equipment suppliers or third-party vendors.
Source: PENN 10-K 2025; no supply-chain ethics section in 10-K.

Disclosed initiatives

Talent Development and Succession Planning

Regular talent review cycles for salaried employees; high-potential identification for promotions and stretch opportunities; alignment with development plans.

Supports leadership pipeline and internal advancement.
Leadership and Skills Development

Leadership training for hourly and salaried team members; self-paced learning platforms; enterprise e-course for people leaders; additional training planned for 2026.

Enhances skill progression toward management roles.
LEAP Internship Program

Early-career pipeline building; emphasis on internal mobility; majority of open executive positions at property level filled with internal candidates or returning team members in 2025.

Promotes career advancement and retention.
PENN Fellowship (SkillBridge)

Department of Defense-approved program for transitioning service members; hands-on experience during final 180 days of service; first Fellow welcomed in 2025; additional Fellows expected Q1 2026.

Veteran employment pathway and community service.
PENN Scholarship Fund

Educational access for children of team members; partnerships with universities/colleges for STEM and Veterans scholarships in operating states.

Supports education and family welfare.
SmartDollar Financial Wellness Program

Launched 2024, expanded 2025; designed to help team members increase savings and eliminate personal debt.

Enhances employee financial security.
Mentoring and Inclusion Programs

Development and networking opportunities via enterprise learning resources (PENN Ed, Learning Central); scaled across organization.

Broadens career support and inclusion.

Governance story

Board independence percentage not explicitly stated; no disclosure of board composition or voting structure. No dual-class share structure mentioned; single-class common stock implied by absence of conflicting disclosure. Lobbying expenditures not disclosed in 10-K. HG Vora Capital activism in early 2025 resulted in board seat negotiations and February 2026 Cooperation Agreement; three activist-nominated directors (Heather Ace, Jeffrey Fox, Fabio Schiavolin) appointed to board; litigation dismissed with prejudice. No antitrust, consumer-safety, or financial-fraud proceedings disclosed; no SEC consent decrees mentioned. Company faces extensive gaming regulation; compliance is described as ongoing but no major regulatory violations reported. Risk factor section notes extensive regulatory oversight and potential for changes in gaming law. Absence of explicit board independence percentage and lobbying disclosure results in moderate deductions.

Criticisms on file

HG Vora Capital Management activism campaign; nominated three director candidates to 2025 annual meeting despite only two board seats available; filed definitive proxy statement May 2025.
Source: PENN 10-K 2025, Item 1A Risk Factors: 'Shareholder activists have, and could in the future, cause a disruption to, or have an adverse effect on, our business.' Board accepted two nominees (Hartnett, Ruisanchez) in June 2025; Cooperation Agreement signed February 2026 for additional three appointments.
Cooperation Agreement with HG Vora (February 2026) resulted in appointment of three additional board members; standstill restrictions in place until 45 days before 2028 annual meeting shareholder nomination deadline.
Source: PENN 10-K 2025, Form 8-K filed February 23, 2026; Cooperation Agreement Exhibit 10.1.
Litigation HG Vora Capital Management, LLC, et al. v. PENN Entertainment, Inc., et al., No. 5:25-cv-02313 (U.S. District Court, Eastern District of Pennsylvania); voluntarily dismissed with prejudice February 23, 2026.
Source: PENN 10-K 2025 and Form 8-K; Cooperation Agreement reference.
Board independence percentage not disclosed; no explicit statement of independent director composition or governance committee structure in 10-K.
Source: PENN 10-K 2025; governance metrics not provided in Item 1 or governance-focused sections.
Lobbying expenditures not disclosed in 10-K; unable to assess political spending or alignment with climate/consumer-protection deregulation efforts.
Source: PENN 10-K 2025; no lobbying spend or PAC contribution data provided.
Extensive regulatory exposure acknowledged; company subject to gaming law changes, new regulations, and multiple jurisdictional compliance requirements; material changes could adversely affect operations.
Source: PENN 10-K 2025, Item 1A Risk Factors: 'Material changes, new laws or regulations, or material differences in interpretations by courts or governmental authorities could adversely affect our financial condition.'

Disclosed initiatives

Board Composition and Governance

Board subject to Nominating and Corporate Governance Committee review; normal evaluation procedures for director nominees; recent appointment of activist-nominated directors following HG Vora engagement.

Governance structure allows shareholder input; transparency on board selection processes.
Gaming License Compliance

Company maintains licenses across 28 jurisdictions; subject to extensive state and provincial regulatory requirements; compliance described as ongoing obligation.

Regulatory adherence necessary for operational continuity; no license suspensions or major violations disclosed.
Regulatory and Legal Compliance

Subject to federal, state, provincial, and local laws governing gaming, environmental, labor, data privacy, anti-money laundering, and marketing; compliance officers and legal structure in place.

Multi-jurisdictional compliance framework supports risk management; complexity increases governance burden.

These are Missionomics' own editorial scores — directional signals built from disclosed facts under a published method, not certifications or definitive ratings of PENN Entertainment, Inc.. Coverage and confidence vary by data point, and figures can lag real-world changes. Read the full Methodology for sourcing, scoring, and correction details — or open PENN Entertainment, Inc. in the app for interactive charts and portfolio building.

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