Burgers Meet Blackjack: Shake Shack Expands Into PENN Casino Properties Nationwide

PENN Entertainment Inc. (NASDAQ:PENN) and Shake Shack Inc. (NYSE:SHAK) have entered into a licensing agreement to bring the popular fast-casual burger chain to ten PENN-owned casino properties across the United States.

The companies announced the deal Wednesday, revealing that, pending regulatory approval, the first two Shake Shack locations, in Hollywood Casino Toledo in Ohio and River City Casino Hotel in St. Louis, Missouri, will open in 2026.

The rollout aims to blend Shake Shack's premium food offerings with PENN's gaming and hospitality experience.

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Shake Shack plans to broaden its geographic footprint through this partnership while exploring nontraditional venues. The new outlets at PENN properties will feature the brand's hallmark menu and hospitality, marking its entry into the entertainment sector.

Michael Kark, Shake Shack's President of Global Licensing, noted the collaboration enables the company to "take a meaningful step into the entertainment space."

For PENN, the partnership represents a move to elevate food and beverage options at its properties nationwide. Todd George, Executive Vice President of Operations, said the initiative aligns with the company's ongoing strategy to modernize its offerings and appeal to evolving consumer preferences. "Shake Shack is a well-known brand that resonates with customers," he said.

While exact locations for the remaining eight Shacks have yet to be announced, the partnership signifies a broader trend of integrating popular culinary brands into casino environments to attract diverse demographics and enhance the overall guest experience.

Related ETFs: Invesco Dynamic Leisure and Entertainment ETF (NYSE:PEJ), AdvisorShares Restaurant ETF (NYSE:EATZ)

Price Action: At the last check on Wednesday, PENN shares were trading lower by 2.11% at $14.88, and SHAK was trading lower by 1.31% to $115.69.

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