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home / articles / PENN - Casino Operator Penn Entertainment Faces Major Shareholder's Bid For Board Representation | Benzinga

PENN - Casino Operator Penn Entertainment Faces Major Shareholder's Bid For Board Representation | Benzinga

Penn National Gaming Inc.

HG Vora Capital Management, a major shareholder in Penn Entertainment Inc (NASDAQ: PENN) with an 18.5% economic interest, is reportedly engaged in discussions with the casino operator regarding board representation. 

The hedge fund, as per a recent securities filing, aims to secure positions on Penn's board, although the exact number of seats remains undisclosed. 

The fund's latest 13F filing unveiled an 11% stake in Penn.

HG Vora Capital Management, traditionally not an activist investor, perceives Penn's stock as significantly undervalued and has been engaging in dialogues with management to strategize a turnaround. 

The investment firm criticizes Penn's historical record in capital allocation, the Wall Street Journal Full story available on Benzinga.com
Stock Information
Company Name: Penn National Gaming Inc.
Stock Symbol: PENN
Market: NASDAQ
Website: pngaming.com
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