Updated Dec. 28, 2023 8:18 am ET
A top shareholder in Penn Entertainment is seeking seats on the casino operator’s board.
The hedge fund HG Vora Capital Management, which has an 18.5% economic interest including swaps, is in talks with Penn about placing directors on the company’s board, according to a securities filing made on Thursday, which didn’t say how many. (Its latest 13F filing revealed an 11% stake in Penn.) Should the talks not lead anywhere, the fund might pursue a proxy fight, according to people familiar with the matter. The Wall Street Journal earlier reported on HG Vora’s position.
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