Penn agrees with HG Vora as three new Board Directors appointed

Penn Entertainment has announced the appointment of three new Independent Directors to its Board, as a simultaneous cooperation agreement has been reached with major shareholder HG Vora Capital Management.  

This latest arrangement between Penn Entertainment and HG Vora sees the pair reach a mutual agreement, after the latter took issue with Penn’s Board of Directors seat election choices last summer. More specifically, HG Vora filed a formal complaint against Penn for only making two seats available to for election to its Board, despite previously promising three.  

Now, this latest action has seen the pair settle on new customary voting and standstill terms – alongside these three independent appointments – as part of a new agreement that will remain in effect until 2027.  

Regarding personnel, Heather Ace joins Penn’s Board alongside her role as an Executive VP and Chief Human Resources Officer at semiconductor and wireless tech company, Qualcomm Incorporated, bringing extensive business and personnel acumen thanks to her long-standing HR background.  

Elsewhere, Jeffrey Fox – EVP, Founder and CEO of investment firm Circumference Group – steps into this Independent Director role with a broad background in economics, investments and business strategy – while Fabio Schiavolin possesses extensive gaming industry expertise as the current acting CEO of Italy’s largest gaming and entertainment sector operator, Snaitech.  

Indeed, having led the company since 2015, Schiavolin previously helped steer Snaitech through its acquisition by Playtech in 2018 – as well as its more recent sale to Flutter Entertainment in 2025 for €2.3bn ($2.71bn). He will now assist in key strategic decisions as an independent voice on the Penn Board.  

These latest executive appointments fall in the wake of additional reshuffling by Penn last month, which saw both EVP of Operations Todd George and SVP & CIO Rich Primus step down from their respective positions, with both roles subsequently eliminated. The operator remains in search of a new Digital COO.