Wyomissing, Pa., Feb 24 — PENN Entertainment, Inc. (Nasdaq: PENN) (“PENN” or the “Company”) today announced the appointment of three new independent directors, Heather Ace, Jeffrey Fox and Fabio Schiavolin, to its Board of Directors (the “Board”), effective immediately. In connection with these appointments, the Company has entered into a cooperation agreement with HG Vora Capital Management, LLC and certain of its affiliates (collectively, “HG Vora”).
David Handler, Chair of PENN’s Board, said, “On behalf of the Board, we are pleased to welcome Heather, Jeff and Fabio, highly accomplished individuals who each bring deeply relevant experience.”
The cooperation agreement between PENN and HG Vora, which will be filed with the Securities and Exchange Commission (the “SEC”) on a Form 8-K, includes customary voting, standstill and other provisions that will remain in effect through the 2027 Annual Meeting of Shareholders.