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PENN Entertainment Resets Board As ESPN Exit Refocuses Digital Strategy
PENN Entertainment has resolved a proxy battle with activist investor HG Vora, adding three new independent directors to its board. This governance change coincides with PENN’s exit from the ESPN Bet partnership and its strategic shift to focus on core land-based and digital casino businesses, including rebranding to theScore Bet. The new board composition and strategic refocus aim to improve financial performance and provide clearer direction for capital allocation amidst a competitive online betting market.