PENN Entertainment Announces Interactive Leadership Transition Scheduled for April 2024
01 2월 2024 - 6:45AM
Business Wire
theScore Founding Leaders to Step Down from
PENN Interactive Following the Successful Rollout of ESPN BET and
theScore Bet, and In-House Technology Migration
PENN Entertainment, Inc. (“PENN” or the “Company”) (NASDAQ:
PENN) announced today that the founding family behind theScore --
John Levy, Benjie Levy, Aubrey Levy and Noah Levy – will be
stepping down from their roles at PENN Interactive, with John
departing in mid-February and with Benjie, Aubrey and Noah
departing in April 2024. In conjunction with this planned
leadership transition, the Company is in the final stages of its
search for a new Head of Interactive.
“This transition plan comes at a natural inflection point, with
the migration to our proprietary technology platform complete,
theScore's media and betting business delivering record results,
and ESPN BET off to a strong start,” said Jay Snowden, CEO and
President of PENN Entertainment. “The Levys are a family of
successful entrepreneurs and are truly pioneers in the sports media
and gaming industry. I am very proud of what we’ve been able to
accomplish with them, including the development of an extremely
deep and talented bench at PENN Interactive. With this experienced,
best-in-class team firmly in place, we are well prepared for this
to be a seamless transition and to continue growing our position as
a leader in online gaming and sports media,” said Mr. Snowden.
Benjie Levy, Head of PENN Interactive and President and Chief
Operating Officer of theScore, commented, "Working at PENN has been
extremely rewarding and we want to thank Jay, Todd George and the
entire PENN team for their partnership and support as we brought
these two organizations together to execute on our uniquely
integrated media and betting strategy. Our focus on creating
industry leading technology and products has been second only to
our efforts in building a world class team and fostering a special
place to work. We could not be more proud of this team and what we
have accomplished together, and we look forward to watching as they
continue to build upon the successful foundation we established at
theScore.”
PENN acquired Score Media and Gaming Inc. (“theScore”) in
October 2021 and integrated theScore with its PENN Interactive unit
under the leadership of Benjie Levy as Head of Interactive with
John Levy assuming the role of Executive Chairman of theScore. The
integrated interactive team further established PENN as an online
gaming leader across North America, including launching and
sustaining a leading position in Ontario with theScore Bet,
completing the successful migration onto a proprietary,
cutting-edge technology stack, and most recently executing the
highly anticipated and successful launch of ESPN BET.
“The enduring success of theScore is due to the passionate and
committed team that helped launch, develop and innovate our
products to provide the best possible fan experience,” said John
Levy, Executive Chairman of theScore. “Empowering fans with a
seamlessly integrated media and betting experience has been core to
our mission since day one. That strategy has led to the success of
theScore and theScore Bet in Ontario and ESPN BET in the U.S. and
will continue to differentiate this online gaming business going
forward.”
About PENN Entertainment
PENN Entertainment, Inc., together with its subsidiaries
(“PENN,” the “Company,” “we,” “our,” or “us”), is North America’s
leading provider of integrated entertainment, sports content, and
casino gaming experiences. PENN operates 43 properties in 20
states, online sports betting in 18 jurisdictions and iCasino in
five jurisdictions, under a portfolio of well-recognized brands
including Hollywood Casino®, L’Auberge®, ESPN BET™ and theScore Bet
Sportsbook and Casino®. In August 2023, PENN entered into a
transformative, exclusive long-term strategic alliance with ESPN,
Inc. and ESPN Enterprises, Inc. (together, “ESPN”) relating to
online sports betting within the United States. PENN’s ability to
leverage the leading sports media brands in the United States
(ESPN) and Canada (theScore) will position us to significantly
expand our digital footprint and efficiently grow our customer
ecosystem. This highly differentiated strategy, which is focused on
organic cross-sell opportunities, is reinforced by our
market-leading retail casinos, sports media assets, and technology,
including a proprietary state-of-the-art, fully integrated digital
sports and iCasino betting platform and an in-house iCasino content
studio. PENN’s portfolio is further bolstered by our
industry-leading PENN Play™ customer loyalty program, which offers
our over 27 million members a unique set of rewards and experiences
across business channels.
Forward Looking Statements
This press release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995. These statements can be identified by the use of
forward-looking terminology such as “expects,” “believes,”
“estimates,” “projects,” “intends,” “plans,” “goal,” “seeks,”
“may,” “will,” “should,” or “anticipates” or the negative or other
variations of these or similar words, or by discussions of future
events, strategies or risks and uncertainties. Specifically,
forward-looking statements include, but are not limited to,
statements regarding: the Company’s expectations regarding results,
such as the success and potential growth of the Company’s
Interactive segment’s products.
Such statements are all subject to risks, uncertainties and
changes in circumstances that could significantly affect the
Company’s future financial results and business. Accordingly, the
Company cautions that the forward-looking statements contained
herein are qualified by important factors that could cause actual
results to differ materially from those reflected by such
statements. Such factors include: the effects of economic and
market conditions in the markets in which the Company operates;
competition with other entertainment, sports content, and casino
gaming experiences; the timing, cost and expected impact of product
and technology investments; and additional risks and uncertainties
described in the Company’s Annual Report on Form 10-K for the year
ended December 31, 2022, subsequent Quarterly Reports on Form 10-Q
and Current Reports on Form 8-K, each as filed with the U.S.
Securities and Exchange Commission. The Company does not intend to
update publicly any forward-looking statements except as required
by law. Considering these risks, uncertainties and assumptions, the
forward-looking events discussed in this press release may not
occur.
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version on businesswire.com: https://www.businesswire.com/news/home/20240131754088/en/
Media: Eric Schippers Senior Vice President, Public
Affairs PENN Entertainment 610/373/2400
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