A battle over Penn Entertainment’s future strategy took another twist Monday, as the ESPN Bet operator and activist investor HG Vora revealed an apparent disagreement over whether HG Vora still wants an injunction to nominate one more member to Penn’s board.
In a letter to shareholders Monday morning, Penn questioned HG Vora’s decision to continue to solicit proxy votes for a third board seat that Penn removed.
“While HG Vora’s proxy statement indicates it is seeking injunctive relief to permit a vote for this third candidate at the upcoming annual meeting, this is not true,” Penn said. “HG Vora’s public litigation filings confirm it is no longer seeking this injunction and, therefore, only two candidates will be up for election at this year’s annual meeting.”
