Penn Entertainment, Inc. (NASDAQ: PENN) has made significant changes to its board of directors, appointing three new independent directors effective immediately. Heather Ace, Jeffrey Fox, and Fabio Schiavolin have been added to the board, bringing with them extensive experience in global gaming, technology, digital infrastructure, finance, and human resources.
Heather Ace, who serves as the Executive Vice President and Chief Human Resources Officer of Qualcomm Incorporated, has joined the board. Jeffrey Fox, the CEO and founder of Circumference Group, and Fabio Schiavolin, the former CEO of Snaitech S.p.A., the largest public company in Italy dedicated to the gaming and entertainment sector, have also been appointed as independent directors.
Penn Entertainment has also entered into a cooperation agreement with HG Vora Capital Management, LLC and certain affiliates, which includes customary voting, standstill, and other provisions effective through the 2027 annual meeting of shareholders.
Penn Entertainment, Inc. operates in 28 jurisdictions throughout North America, with a diversified portfolio of casinos, racetracks, and online sports betting and iCasino offerings. The company focuses on organic cross-sell opportunities, reinforced by its market-leading retail casinos, sports media assets, technology, and a proprietary state-of-the-art, fully integrated digital sports betting and iCasino platform. Additionally, the company boasts an in-house iCasino content studio and the industry-leading Penn Play™ customer loyalty program, catering to over 33 million members. Today the company's shares have moved -1.99% to a price of $14.29. For more information, read the company's full 8-K submission here.
