Penn National Gaming, Inc. (PENN: Nasdaq) ("Penn National Gaming" or the
"Company") announced today that its Board of Directors has, subject to
customary regulatory approvals, appointed the Company's Chief Executive
Officer, Timothy J. Wilmott, to the Board effective immediately. Mr.
Wilmott's appointment will expand the size of the Board to seven members,
five of whom satisfy the standards for director independence under the
current Listing Rules of the NASDAQ Stock Market.
Tim Wilmott joined Penn National Gaming in February 2008 as President and
Chief Operating Officer and was named Chief Executive Officer in November
2013. Mr. Wilmott had served at Harrah's Entertainment (now Caesars
Entertainment Corporation) since 1987 and was Chief Operating Officer at
Harrah's for approximately four years. In this position, he oversaw the
operations of all of Harrah's revenue-generating businesses, including 48
casinos, 38,000 hotel rooms and 300 restaurants.
Peter M. Carlino, Chairman of Penn National Gaming, commented, "Since
joining the Company in 2008, Tim has been steadfast in diversifying our
operations in a return focused manner while fostering our employees'
commitment to deliver quality guest services across the property portfolio.
In addition, in the eleven months since we separated the Company's real
estate assets from our operating assets, Tim has built formidable corporate
and operating management teams that have consistently delivered strong
margins from existing operations, successfully opened new facilities and
developed exciting expansion opportunities in new markets, including Ohio,
Massachusetts and California. The Board has great confidence in Tim and we
look forward to his contributions as we leverage the Company's diversified
regional presence, proven management team, property development
capabilities, strong balance sheet, acknowledged operating discipline, the
highly regarded Hollywood Casino brand, and robust customer database to
enhance shareholder value."
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