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Penn Entertainment (PENN) delivers comprehensive gaming experiences through its network of land-based casinos and innovative digital platforms. This news hub provides investors and industry observers with authoritative updates on corporate developments, strategic initiatives, and regulatory milestones.
Access timely press releases and analysis covering earnings announcements, property expansions, technology partnerships, and interactive gaming innovations. Our curated collection ensures stakeholders stay informed about both traditional casino operations and emerging digital ventures in sports betting and iGaming.
Key updates include regulatory developments affecting gaming jurisdictions, acquisitions strengthening market position, and technological advancements enhancing customer experiences. Content is rigorously verified to support informed decision-making without speculative commentary.
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HG Vora Capital Management, holding approximately 4.80% of PENN Entertainment (NASDAQ: PENN) shares, has released a comprehensive investor presentation ahead of the company's 2025 Annual Meeting on June 17. The activist investor is pushing for significant board changes, nominating three independent directors: William Clifford, Johnny Hartnett, and Carlos Ruisanchez.
HG Vora criticizes PENN's current leadership for poor performance, strategic missteps, and inadequate corporate governance. The firm is urging shareholders to vote using their GOLD proxy card to support the nomination of these three candidates, aiming to restore oversight and accountability to what they describe as an entrenched board.
Shake Shack (NYSE: SHAK) and PENN Entertainment (Nasdaq: PENN) have announced a strategic licensing partnership to open ten new Shake Shack locations across PENN's casino properties nationwide. The first two locations are scheduled to open in 2026 at Hollywood Casino Toledo, Ohio and River City Casino Hotel in St. Louis, Missouri, subject to regulatory approvals.
This expansion represents Shake Shack's significant move into the entertainment space, allowing the burger brand to explore flexible formats and extend its reach to new U.S. regions. The partnership aligns with PENN Entertainment's strategy to enhance its properties with upgraded dining and entertainment options.
PENN Entertainment (NASDAQ: PENN) and Shake Shack (NYSE: SHAK) have announced a strategic licensing partnership to open ten Shake Shack locations across PENN's casino properties nationwide. The first two locations are scheduled to open in 2026 at Hollywood Casino Toledo, Ohio and River City Casino Hotel in St. Louis, Missouri, subject to regulatory approvals.
This expansion represents Shake Shack's significant move into the entertainment space, allowing the burger brand to extend its reach and bring its signature dining experience to new markets. The partnership aligns with PENN Entertainment's ongoing initiative to enhance its properties with upgraded dining and entertainment options.
PENN Entertainment (NASDAQ: PENN) has issued a letter to shareholders clarifying details about its upcoming Annual Meeting. The letter addresses the election of two Board candidates - Johnny Hartnett and Carlos Ruisanchez - who were initially proposed by HG Vora Capital Management. Despite HG Vora soliciting proxies for a third director candidate, only two director seats are available for election.
The company emphasizes that this is not a contested election, as both PENN and HG Vora are recommending the same two candidates. PENN has decided not to solicit proxies for their White Card over HG Vora's Gold Card. After the election, 75% of PENN's directors will have joined the Board since 2019, with the company indicating openness to further Board refreshment.
HG Vora Capital Management has filed a lawsuit against PENN Entertainment (NASDAQ: PENN) in the U.S. District Court for the Eastern District of Pennsylvania. The lawsuit challenges PENN's decision to reduce the number of board seats up for election from three to two at the upcoming 2025 Annual Meeting. HG Vora, which owns approximately 4.80% of PENN's outstanding shares, alleges that this "Board Reduction Scheme" violates Pennsylvania's Business Corporation Law and breaches the Board's fiduciary duties.
The investment firm seeks to elect three independent nominees - William J. Clifford, Johnny Hartnett, and Carlos Ruisanchez - to PENN's Board. HG Vora claims PENN violated federal securities laws by failing to follow universal proxy rules and making misleading statements in SEC filings. The complaint seeks declaratory and injunctive relief to invalidate the board reduction, correct proxy materials, and allow shareholders to vote for all three nominees.
HG Vora Capital Management has responded to PENN Entertainment's recent board actions, criticizing the company's decision to reduce director seats up for election from three to two at the 2025 Annual Meeting.
Key developments:
- HG Vora, owning 4.80% of PENN shares, had planned to nominate three candidates for board seats
- PENN's board reduced available seats from three to two on April 25, 2025
- PENN stated intention to nominate two of HG Vora's candidates: Johnny Hartnett and Carlos Ruisanchez
- HG Vora believes their third candidate, William Clifford, would be valuable to PENN's board
- HG Vora claims PENN previously violated state law regarding director elections in 2024
HG Vora views this action as an attempt to disenfranchise shareholders and evade accountability. The firm is filing preliminary proxy materials with the SEC and encourages shareholders to review these documents when available. The dispute centers on corporate governance and board representation at PENN Entertainment.