Who Owns Penn Entertainment?

0
4
who owns entertainment
Photo: istockphoto
Penn Entertainment, formerly known as Penn National Gaming, is a publicly traded company that owns and operates gaming and racing facilities across the United States. With 41 properties in 19 states, Penn Entertainment has established itself as one of the largest gaming companies in North America.

A Publicly Traded Company

As a publicly traded company, Penn Entertainment has no single owner. Instead, it is owned by its many shareholders who own shares of the company’s stock. Penn Entertainment trades on the NASDAQ stock exchange under the ticker symbol PENN.

Major Shareholders

While no single shareholder owns a majority stake in Penn Entertainment, there are some large institutional investors and funds that hold sizable positions:
• BlackRock Inc. – The world’s largest asset manager owns over 14 million shares, representing a 9.7% stake.
• FMR LLC – The parent company of Fidelity Investments owns over 17 million shares for an 11.8% stake.
• PAR Capital Management Inc. – An investment management firm focused on the gaming, lodging, and leisure sectors that owns around 9 million shares, or 6.3%.
who owns penn entertainment
Photo: istockphoto

Company Leadership

The leadership team guiding Penn Entertainment’s business strategy and operations includes:
• Jay Snowden – Chief Executive Officer since 2020. He has held various leadership roles with Penn Entertainment since 2007.
• Felicia Hendrix – Chief Financial Officer overseeing all finance, accounting, and investor relations. She has served in executive roles in the gaming industry since 1999.
• Todd George – Executive Vice President overseeing all revenue growth and business development activities. He previously held executive positions with Caesars Entertainment.

Diversified Shareholder Base

While major institutional shareholders own significant stakes, the vast majority of Penn Entertainment shares are held by thousands of firms and individuals worldwide. This diversified base of global shareholders makes decisions about the company’s future based on its growth prospects and the interests of shareholders.

Conclusion

As a publicly traded gaming industry leader, Penn Entertainment has a highly diversified shareholder base rather than a single majority owner. The company’s largest individual investors remain under the 12% ownership threshold. Penn Entertainment executes its strategic vision on behalf of its shareholders while navigating an evolving regulatory landscape.

LEAVE A REPLY

Please enter your comment!
Please enter your name here