Operator

Greetings, and welcome to the PENN Entertainment First Quarter 2026 Earnings Call.

I would now like to turn the conference over to Joe Jaffoni, Investor Relations. Please go ahead.

Joseph Jaffoni

Thank you, Chelsea. Good morning, and thank you for joining PENN Entertainment's 2026 First Quarter Conference Call and Webcast. We'll get to management's comments and presentation momentarily as well as your questions and answers. [Operator Instructions]

I'll now review the safe harbor disclosure. Today's discussion contains forward-looking statements. Forward-looking statements involve risks, assumptions and uncertainties that could cause actual results to differ materially. For more information, please see our press release for details on specific risk factors.

It's now my pleasure to turn the call over to PENN's CEO, Jay Snowden. Jay, please go ahead.

Jay Snowden
President, CEO & Director

Thanks, Joe. Good morning. I'm pleased to report PENN's diversified retail portfolio delivered another solid quarter as Retail segment adjusted EBITDA grew year-over-year. Our property performance was encouraging across the portfolio with particular strength in the West