Penn Entertainment, a Pennsylvania-based gaming company located in Wyomissing, has come under scrutiny recently for an alleged improper board structure. HG Vora Capital, an investor in the company, notified Penn that it is violating the Pennsylvania Business Corporation Law.
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HG Vora Capital, a hedge fund out of New York, is seeking board seats at PENN Entertainment.
Not only is Penn Entertainment’s headquarters in the Keystone State, but it also operates one of 21 PA online casinos, an online sportsbook and four Hollywood-branded retail casinos.
HG Vora Capital wants more seats on Penn’s board. However, the hedge fund, which owns an 18% stake in PENN, filed a complaint against the size of the company’s board.
