WYOMISSING, PA — PENN Entertainment, Inc. (Nasdaq: PENN) has confirmed that its Board of Directors has received notice from HG Vora Capital Management, LLC regarding the nomination of three director candidates for election at the company’s 2025 Annual Meeting of Shareholders.
PENN responded to the nominations, stating its commitment to shareholder value and its rigorous review process. “The PENN Board and management team are committed to creating long-term value for all shareholders and will continue to take actions to achieve that objective. We regularly solicit feedback and engage with the investment community about our strategy, performance and business priorities. The Board’s Nominating and Corporate Governance Committee will carefully review HG Vora’s proposed director nominees, in line with PENN’s normal evaluation procedures, and present its formal recommendation regarding the election of directors in the Company’s proxy materials, which will be filed with the U.S. Securities and Exchange Commission ahead of the 2025 Annual Meeting,” the company stated.
The 2025 Annual Meeting has not yet been scheduled, and shareholders are not required to take any action at this time. Goldman Sachs & Co. LLC is serving as PENN’s financial advisor, while Wachtell, Lipton, Rosen & Katz is acting as legal counsel.
PENN’s acknowledgment of the nomination and its outlined approach emphasizes the company’s focus on governance and maintaining transparency with its stakeholders.
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