The opening of the M Resort's 375-room tower in December has significantly contributed to a 12.4% revenue increase for Penn Entertainment Inc., a regional gaming company based in Wyomissing, Pennsylvania. The new tower, which expanded the M Resort's capacity to 765 rooms, achieved record net revenue for the property in both the quarter and March. However, Penn reported a net loss of $2.8 million for the quarter ending March 31, primarily due to one-time expenses from launching iGaming and sports wagering in Alberta, Canada. Despite this loss, revenue reached $1.8 billion, compared to $1.7 billion in the same quarter the previous year. CEO Jay Snowden noted that rising gasoline prices have not yet affected casino visits, attributing the continued patronage to higher consumer pay from tax cuts. Looking ahead, Penn Entertainment has multiple expansion projects planned, including new hotel towers and casino relocations in Illinois and Ohio.