WYOMISSING, Pa. – How will a truce with activist investor HG Vora impact PENN Entertainment? The stock market had an optimistic take today.
PENN Entertainment, the Wyomissing- based operator of casinos, sports betting and entertainment, reported fourth quarter and full-year results. The results were mostly negative and the press release that announced the results included only selected balance sheet items.
Just three days ago the company appointed three new independent directors, Heather Ace, Jeffrey Fox, and Fabio Schiavolin. In connection with these appointments, the company noted it has entered into a cooperation agreement with HG Vora Capital Management, LLC and certain of its affiliates (collectively, HG Vora)…