Penn Entertainment Inc. said its shareholders elected two new directors proposed by HG Vora Capital Management to its board at the company’s annual meeting Tuesday.
HG Vora had nominated William Clifford, Johnny Hartnett and Carlos Ruisanchez to the board. Penn recommended shareholders vote only for Hartnett and Ruisanchez. The company asked shareholders to not support Clifford, a former chief financial officer of Penn, saying his views of the business were outdated.
HG Vora has argued that Penn spent over $4.3 billion on a “failed” strategy to crack the online betting market. HG Vora sued Penn saying that all three of its nominees should be allowed to run after the casino operator reduced the number of available board seats.
