President And Chief Executive Officer at PENN Entertainment
Thanks, Joe. Good morning, everyone. Here with me in Wyomissing this morning is our CFO, Felicia Hendrix; and our Head of Operations; Todd George, as well as several other members of our executive team should you have any questions for them. We did provide a link to the investor presentation in our earnings release. So I'd encourage you to either print that out or pull it up and maybe reference it while we're talking because we'll speak to a few of the slides in the investor deck.
We did talk on our last earnings call about what sets Penn apart from the competition and what our strategic objectives and expectations are for the first quarter in terms of our core business, our interactive segment, investing in new technology and the launch of the theScore Bet in Ontario. And I'm proud to say our corporate property and interactive teams have delivered on all fronts in the first quarter.
And I want to begin this morning by thanking our team members at all levels of the organization for their continued hard work and dedication and delivering best-in-class products and services to our guests. And we don't always do this, but I'm going to take a few minutes to call out a few of our top performers and some highlights across the company. I'll start in Louisiana, where our properties led by Harold Rowland, Barry Regula, Kim Ginn and Dan Kennedy, continue to post robust results in what are some of the most competitive markets in the U.S.
Their team's focus on profitable revenue drivers, guest service enhancements and a more efficient cost structure has resulted in market share gains across the board and margins that are the best in all the property's history. I couldn't be more proud of all of our team members in the State of Louisiana. Two of our properties under competitive pressure due to new build-outs and expansions in Black Hawk, Colorado and East Chicago, Indiana led by Sean Demeule and Ryan Coppola have quickly reimagined the way in which we run the business and compete.
These properties are both pacing to deliver EBITDAR in the same range, if not higher, than what they generated in 2019 despite the new competition, which is not an easy feat. So hats off to them as well. And in Las Vegas, Hussain Mahrous and our creative team at the M Resort, are now generating more EBITDA per quarter than what the property did annually just a few years ago. And with the growing population in that part of the Las Vegas Valley, we expect to see those results only get stronger in the coming years.
In St. Louis, Mike Jerlecki and Steve Peate and their teams are finally again, able to compete on a level playing field after the elimination of COVID mandates that were much more restrictive for our properties operating in a different county versus the nearby competition and are back to profitably growing market share and breaking EBITDA records along the way.
Our teams in Central Pennsylvania, led by Dan Ihm, Ruben Warren and Marc Guastella has successfully opened two new properties in the last year and have done a terrific job growing the overall database for the company and ensuring we are looking at all three businesses and our results there on an incremental basis. Cannibalization in Central Pennsylvania has been minimal and early combined results have been very encouraging. And then lastly, our Interactive business is led by Jon Kaplowitz and the Levy family in Toronto, continue to demonstrate that there is a different way to approach the online vertical in North America.
Disciplined organic marketing, omnichannel cross-sell, great products and owning our media strategy with our friends at Barstool Sports and theScore has led to growth in our net gaming revenue market share results in the first quarter. We believe our differentiated approach will benefit us going forward as the relationships we have and continue to build with our customers are based on delivering great products and customer service, media integration, branded and experiential events and promotions and a direct connection to our users via live streams and social media engagement with our content creators, led by Dave Portnoy and Big Cat.
We don't lead with discounts. These structural advantages are already proving themselves out real time and we'll deliver what we believe will be best-in-class margins over the long term. I'm super fortunate to be working alongside so many talented people every day, and we collectively couldn't be more excited about our future prospects. Now transitioning to our first quarter results.
You'll see on slide five, we achieved record first quarter revenues of $1.56 billion and adjusted EBITDAR of just under $495 million, which grew 23% and 11%, respectively, over 2021 levels driven primarily by strong property level performance across all segments, including the older core demographic who are reengaging through both increased visitation levels and spend per visit. We're also encouraged by the ongoing visitation of our younger demographic. We remain focused on reimagining our properties and offerings to enhance the entertainment appeal to the steadily growing segment of customers.
Now turning to slide eight. During the quarter, our industry-leading mychoice customer database grew across all work segments and we also added 355,000 new members to our ecosystem. Life-to-date, we have increased our database by over one million from digital registrations alone for the mychoice app, providing valuable cross-sell opportunities. More specifically, we've seen 28% year-over-year growth in our VIP segment and 11% in our core segments, driven by our new online and retail Sportsbook offerings in our recently opened Hollywood casino properties in New York and Morgantown, Pennsylvania.
On slide nine, you'll see we're starting to realize early benefits from our three Cs, which, as a reminder, is cashless, cardless and contactless technology which powers our mywallet experience. We have exceeded 53,000 mywallet downloads and more than $25 million in deposits. The three Cs technology is now live at nine properties in three states and has increased the value of our guests in terms of visitation frequency and time on device. We plan to introduce the three Cs in an additional 14 properties in eight states over the next two quarters, of course, pending regulatory approvals.
As noted on slide 10, our Interactive segment grew revenues year-over-year by 94%, exclusive of tax reimbursements from our third-party skin partners, led by strong growth in online sports betting, iCasino and media. We remain focused on profitable growth with our integrated media retail operations, helping to deliver the lowest customer acquisition costs in the industry. In addition, during the quarter, we introduced our market-leading retail Barstool Sportsbook at Penn National Race Course in Pennsylvania and at L'Auberge Lake Charles in Louisiana, and we plan to roll out additional Barstool Sportsbook at six more properties throughout the remainder of the year.
Slide 12 shows the benefits of our integrated retail Barstool sportsbooks and gaming areas which are helping to maximize cross-sell opportunities on table game play, particularly in the younger segments. Comparing first quarter of this year to first quarter of '19 we've seen a 53% increase in table theo for ages 21 to 44 at our properties with retail sportsbooks. On slide 13, you'll see sports betting in Louisiana has been a great story for us and our market-leading properties and partners at Barstool Sports are a huge reason why.
Dave and Big Cat hosted a Super Bowl watch party at L'Auberge Lake Charles and Louisiana natives Ben Mintz and Megan Makin Money embarked on a Mintzy tour around the state to help promote our Barstool Sportsbook app. This powerful combination of Barstool talent and our best-in-class retail Sportsbook offerings underscores the benefits of our differentiated strategy. Notably, we secured more than 6,000 preregistrations from our casino database and generated almost 11% NGR with limited external marketing spend.
Our Interactive segment had an adjusted EBITDA loss of $10 million this quarter. Later this month, we expect to make a second $12.5 million installment towards the California sports betting initiative, while not originally contemplated in our Interactive segment guidance for 2022. We remain on track, however, to generate an EBITDA loss of approximately $50 million from this segment in 2022 as we continue to scale operations and infrastructure.
Following our first quarter results, we anticipate the most significant losses will occur in the second and third quarters as we continue to ramp in our new markets and prepare our products and tech stack for football season. Fourth quarter will likely be closer to breakeven. By 2023, we expect to be generating positive adjusted EBITDA as we start to realize the benefits of our wholly owned tech stack. In addition to the successful launch of our Barstool Sportsbook app in Louisiana on January 28, we became -- which became our 12th state, excuse me, one of the top highlights of the quarter is undoubtedly the launch of theScore mobile app in Ontario on April 4.
As highlighted on slide 18, while still early, theScore Bet's performance thus far in Ontario has exceeded our expectations, due in large part to theScore's incredible brand recognition and media footprint as well as the support from Barstool Sports and the popular team from Spittin Chiclets, the number one hockey podcast in Canada. As a reminder, with a population of 15 million people, Ontario would rank as the fifth largest state in the U.S. on a population basis. Since launch, theScore Bet is ranked as Canada's number one most downloaded sports betting app and the number one rated betting app in the iOS store.
Early results reflect strong cross-sell opportunities. Currently, 79% of all betters in Ontario are theScore media app users and 50% of theScore sportsbook users have wagered on the iCasino products. Just after launch, theScore announced an exclusive 10-year gaming partnership with the Toronto Blue Jays. This deal grants to theScore Bet national marketing rights that extend across all gaming categories, including sports betting, casino, online casino and fantasy sports.
The Blue Jays and theScore Bet also plan to create a branded premium 365 days a year flagship sports bar and restaurant at the Rogers Center that will serve as an entertainment hub and destination for fans. theScore Bet app is built on theScore's state-of-the-art account -- player account management system, excuse me, and bonus engine, which provides highly customized features and seamless integration into theScore media app. In the third quarter, we expect to transition as planned, theScore Bet in Ontario to theScore's proprietary risk and trading platform as well, which will allow us to significantly bolster the product's features and capabilities, including expanded betting markets and parlay options.
Meanwhile, we remain on track to transition the Barstool Sportsbook to the theScore's PAM and trading platform in the third quarter of 2023 as previously communicated, which will provide meaningful cost and revenue synergy opportunities. We are excited to have two very strong sports brands in our portfolio in theScore in Barstool Sports. As we mentioned on previous calls, we plan to lead with theScore Bet in Canada given its strong brand equity there, while focusing on the Barstool Sportsbook brand in the U.S.
We feel the best way to maximize the value of both brands in the U.S. is to fully integrate the Barstool Sportsbook app into theScore media app, which will occur during the second half of this year. As noted on slide 14, the Barstool Sportsbook app has gained market share in the three states that report net gaming revenue by operator despite our spending a fraction of what our competitors do on promo and paid media. We continue to believe NGR is a more relevant measure of performance as opposed to handle market share, which doesn't mean as much when revenues are largely diluted by marketing and promotional expenses.
And while our popular Barstool Sportsbook app is tied for the type or first on the Apple iOS store among sports betting apps with an average customer rating of 4.8 on a scale of 5, we are continuing to add new features to drive further adoption. You'll see on slide 15, we introduced MLB same game parlay, Parlay+ option and will launch new withdrawal methods, including Mastercard and Apple Pay in the second quarter of this year. Notably, approximately 90% of our withdrawals are now instant, which we're very proud of.
Finally, we expect to add a search function and the ability to use mycash as currency later this summer. Meanwhile, our Barstool-branded iCasino business continues to grow as we improve our products, add new games and leverage our casino database and creative marketing by Barstool Sports. For example, Barstool recently launched an iCasino focused Twitch channel called the Coin Boys which already ranks in the top 1% of all Twitch programs with an average of 5,000 viewers per stream and a staggering average view time of just under two hours.
Flipping ahead to slide 17. We're also excited about the initial slate of games from our Penn Game Studios, which are drawing rave reviews and have contributed nearly 30% of Barstool Casino's online handle across Michigan, New Jersey and West Virginia. We have high expectations for our first batch of games in Pennsylvania, which launched last week. On the media front, we continue to build momentum as theScore grew revenue 42% year-over-year in the first quarter and continues to garner high levels of engagement.
Barstool has also continued to expand its audience and reach while pursuing new outside-the-box growth opportunities. On March 18, the second stand-alone Barstool Sports bar opened in Philly to very strong demand and two additional locations are under development in major metropolitan locations. In addition, in April, Frankie and Trent from the Barstool golf podcast attended the PGA Zurich Classic, providing video commentary, which garnered four million views and over 100,000 engagements.
On May 7, Barstool will broadcast an alternative commentary to the Canelo fight on DAZN, representing a further extension of the Barstool brand into live sporting events. Looking forward, we believe there is significant upside for the media business, and we'll talk a lot more about that in coming quarters as we begin to realize the benefits of cross promotion with Barstool Sports and additional monetization opportunities with both Barstool and theScore.
And with that, I'll turn it over to Felicia.