Penn Entertainment Stock Up 7% on Potential Board Shake-Up
PENNPENN(PENN) Investopedia·2023-12-28 22:20

Key TakeawaysHedge fund HG Vora Capital Management is seeking board seats at Penn Entertainment Inc., according to a regulatory filing.HG Vora has an 18.5% interest in the casino group.The hedge fund expressed concerns about Penn Entertainment management’s capital allocation.Penn Entertainment Inc. (PENN) shares rose as much as 7% on Thursday after it was disclosed that a major investor is pursuing seats on the casino operator’s board.Hedge fund HG Vora Capital Management has an 18.5% stake in Penn Entertai ...