Institutional Shareholder Services believes Penn Entertainment (PENN) shareholders should vote for three board candidates nominated by HG Vora Capital Management, Crystal Tse of Bloomberg reports. ISS recommends a vote for William Clifford, Johnny Hartnett and Carlos Ruisanchez. “The big picture is that the company’s push into the interactive segment has not translated into the results expected by shareholders, and performance has only worsened with time,” ISS wrote. It also said that the existing board lacks an “adequate level” of direct gaming experience, according to Bloomberg.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PENN:
- Illinois approves budget with tax increases on sports wagering, SBD reports
- Penn Entertainment price target lowered to $16 from $16.50 at Morgan Stanley
- Nevada reports April statewide gaming win down 0.47% to $1.234B
- Penn National call volume above normal and directionally bullish
- Penn Entertainment issues shareholder letter in response to HG Vora