Benzinga - by Zacks, Benzinga Contributor.
PENN Entertainment, Inc. (NASDAQ: PENN) has taken a significant step to bolster its industry-leading loyalty program by expanding its partnership with Ticketmaster. This strategic move is set to provide more than 30 million PENN Play members with exciting new benefits, which will give them unprecedented access to live events.
PENN Play members can now redeem their rewards for tickets to concerts, sporting events and shows through Ticketmaster. This initiative goes beyond just providing ticket access; it aims to create immersive experiences. The expansion includes on-site activations at five major amphitheaters across the United States, which is expected to enhance the live event experience for members.
The timing of this partnership expansion couldn't be better. Recent research indicates a surge in global demand for live events. Fans are eager to join loyalty programs that offer live event perks, with many willing to switch programs to gain access to these benefits. PENN Entertainment's move addresses this demand head on, which should position the company as a leader in providing value and engagement through its loyalty program.
Connecting PENN Play rewards with Ticketmaster accounts is a seamless process. Members can easily link their accounts and use PENN Cash to pay for part or all of their tickets on Ticketmaster.com. This integration simplifies the purchasing process and makes it convenient for members to access their favorite events.
PENN Entertainment's expanded partnership with Ticketmaster is a strategic move that enhances the value of its loyalty program. By providing direct access to a wide range of live events and creating immersive experiences, PENN is setting a new standard in customer engagement and satisfaction. This initiative not only meets the growing demand for live events but also strengthens the loyalty of its 30 million members, ensuring that they continue to find fun with ease.
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Stock Performance Shares of the company have risen 21.2% in the past month compared with the industry's growth of 20.2%.
PENN Entertainment is benefiting from consistent business strategies and strong brand recognition. The company is also gaining from the implementation of the MyChoice reward program across all of its properties and online channels.
PENN currently carries a Zacks Rank #3 (Hold).
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