(Updated - August 11, 2023 11:58 AM EDT) PENN Entertainment (PENN) disclosed: The selling shareholder referred to in this prospectus supplement (the "selling shareholder") may offerand resell up to 1,254,800 shares of our common stock, $0.01 par value per share ("common stock"), under this prospectus supplement. We issued these shares of common stock to the selling shareholder on February 17, 2023 in connection with our acquisition of all of the outstanding shares of common stock of Barstool Sports, Inc. ("Barstool") not already owned by us. These shares of common stock were issued tothe selling shareholder pursuant to a stock assignment agreement, dated as of February 17, 2023, by and among PIV West, LLC, a wholly owned subsidiary of PENN Entertainment, Inc., Barstool and the selling shareholder, as partial consideration for the Barstool shares then-owned by the selling shareholder.