Penn Nation Approves Amendment To Third Amended And Restated Bylaws

BZ NOTE:
From 8-K:

• On December 10, 2014, the Board of Directors (the “Board”) of Penn National Gaming, Inc. (the “Company”) approved an amendment to the Company’s Third Amended and Restated Bylaws. The amendment eliminates Section 4.02(a)(1) of the Company’s Third Amended and Restated Bylaws, which prohibited an individual from qualifying for service as a director of the Company if he or she is a party to any compensatory, payment or other financial agreement, arrangement or understanding with any person or entity other than the Company, or has received any such compensation or other payment from any person or entity other than the Company, in each case in connection with candidacy or service as a director of the Company, except as may otherwise be approved by the Board. Following discussions between the Company and certain shareholders as part of the Company’s shareholder outreach efforts, the Board concluded that it was in the interest of the Company and its shareholders to remove the provision from the bylaws at this time.