Business
HG Vora Files Definitive Proxy Materials and Sends Letter to PENN Entertainment, Inc. Shareholders
NEW YORK, May 13, 2025--HG Vora Capital Management, LLC (together with its affiliates, "HG Vora") filed its definitive proxy statement with the Securities and Exchange Commission (the "SEC") in connection with its nomination of candidates for election to the Board of Directors (the "Board") of PENN Entertainment, Inc. (Nasdaq: PENN) ("PENN" or the "Company") at the Company’s 2025 Annual Meeting of Shareholders (the "Annual Meeting"), which is scheduled to be held on June 17, 2025.
About this update from Penn Entertainment, Inc.
[{"type":"text","content":"Highlights Years of Underperformance and Strategic Missteps","length":59,"tagName":"p","attribs":{}},{"type":"text","content":"Believes Incumbent Directors Have Taken Self-Serving and Unlawful Actions Intended to Disenfranchise Shareholders","length":113,"tagName":"p","attribs":{}},{"type":"text","content":"Urges Shareholders to Vote for HG Vora’s Nominees on the GOLD Proxy Card to Send a Clear Message to PENN’s Board that Genuine Change Is Needed","length":142,"tagName":"p","attribs":{}},{"type":"text","content":"Launches www.WinAtPENN.com","length":26,"tagName":"p","attribs":{}},{"type":"text","content":"NEW YORK, May 13, 2025--(BUSINESS WIRE)--HG Vora Capital Management, LLC (together with its affiliates, "HG Vora") filed its definitive proxy statement with the Securities and Exchange Commission (the "SEC") in connection with its nomination of candidates for election to the Board of Directors (the "Board") of PENN Entertainment, Inc. (Nasdaq: PENN) ("PENN" or the "Company") at the Company’s 2025 Annual Meeting of Shareholders (the "Annual Meeting"), which is scheduled to be held on June 17, 2025.","length":562,"tagName":"p"},{"type":"text","content":"HG Vora today also sent a letter to PENN shareholders. The full text of the letter, as well as additional information regarding HG Vora’s director nominees, can be viewed online at www.WinAtPENN.com. The full text of the letter is below.","length":237,"tagName":"p"},{"type":"text","content":"* * *","length":5,"tagName":"p","attribs":{}},{"type":"text","content":"May 13, 2025","length":12,"tagName":"p"},{"type":"text","content":"Dear Fellow PENN Shareholders,","length":30,"tagName":"p"},{"type":"text","content":"HG Vora Capital Management, LLC (together with its affiliates, "HG Vora," "we" or "us") is one of the largest shareholders of PENN Entertainment, Inc. ("PENN" or the "Company"). We are long-term shareholders and currently own approximately 4.8% of the Company’s outstanding shares.","length":331,"tagName":"p"},{"type":"text","content":"PENN’s stock has underperformed those of its publicly traded gaming peers1 over the last two, three, four, five, six, seven, eight, nine and ten years, and during the tenure of the Company’s CEO and most of the independent directors.2...