Penn National Gaming Archives - CasinoBeats https://casinobeats.com/tag/penn-national-gaming/ The pulse of the global gaming industry Thu, 29 May 2025 13:51:20 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.1 https://casinobeats.com/wp-content/uploads/2025/01/cropped-favicon-32x32.png Penn National Gaming Archives - CasinoBeats https://casinobeats.com/tag/penn-national-gaming/ 32 32 Part 48 | On the move: Recruitment round-up http://casinobeats.com/2020/11/26/on-the-move-recruitment-round-up-48/ Thu, 26 Nov 2020 14:00:14 +0000 https://casinobeats.com/?p=40565 With plenty of comings and goings around the industry, allow CasinoBeats to give you the rundown on a number of recent manoeuvres. Live 5  Staffordshire-based slot developer Live 5 has promoted Oliver Vlaytchev to director of operations, as the studio continues to build out its senior management team. After initially joining the firm in 2017 as a software games […]

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With plenty of comings and goings around the industry, allow CasinoBeats to give you the rundown on a number of recent manoeuvres.

Live 5 

Staffordshire-based slot developer Live 5 has promoted Oliver Vlaytchev to director of operations, as the studio continues to build out its senior management team.

After initially joining the firm in 2017 as a software games developer and coordinator, Vlaytchev has moved through the ranks to the new role where he will be responsible for a range of business-critical tasks.

This includes managing the day to day activities of all departments within the company, ensuring seamless communication between departments, project planning and managing, overseeing the product roadmap and working with third parties.

Lloyd ButlerCEO of Live 5, said: “Oliver has proved to be a highly valuable member of the team and his promotion to director of operations reflects the positive impact he has had on the business since first joining our ranks in 2017.

“Live 5 has been on a tremendous growth trajectory over the past 18 months and Oliver has played a key role in this. In his new position, he will continue to manage day to day activities across our departments while playing an even greater role in the strategic development of Live 5.”

Penn National Gaming

Marla Kaplowitz has been appointed to the board of directors at Penn National Gaming, subject to customary regulatory approvals.

The appointment will expand the size of the board to eight members, six of whom satisfy the standards for director independence under the current Listing Rules of the NASDAQ stock market.

Kaplowitz is president and CEO of the American Association of Advertising Agencies, a trade association serving more than 600 member agencies across 1,200 offices throughout the US, who are responsible for more than 85 per cent of total domestic advertising spend.

David Handler, chairman of PNG, noted: “Marla is an innovator and a proven leader in marketing and digital transformation, which will serve us well as Penn National continues its evolution into the nation’s leading omnichannel provider of retail and interactive gaming, sports betting and entertainment. We’re delighted to have her unique talents on the board.”

FSB

Sports betting and igaming tech provider FSB has named US retail and online gambling veteran Bob Akeret as vice president of operations in North America, as the company gets ready to launch into the market.

Based in New Jersey, he will be responsible for fine-tuning the provider’s cutting-edge product and service offering for the market, including assisting FSB’s business development team in localising its retail and online sportsbook technologies.

He will also build relationships with third parties such as payment providers and data suppliers in the US, as well as identify new business opportunities. Akeret will report directly to FSB COO Glenn Elliott.

Dave McDowellCEO of FSB, commented: “Bob is one of the most experienced retail and online gambling executives in North America and I am delighted to welcome him to the team. Securing Bob is a real coup for FSB as we prepare to enter the North American market with our leading technology.

“We see huge potential for our products and services as the US market continues to roll out and with Bob on board, we will be able to make sure our technologies meet the exact needs of operators and players across North America.”

British Horseracing Authority

The former racecourse stewards’ panel chair and experienced racing industry figure David Jones has been appointed to the board of the British Horseracing Authority, in the role of regulatory independent non-executive director.

Jones’ tenure begins from January 1, and he takes over from Andrew Merriam who has served three terms on the BHA Board since 2012 and has been involved in a number of major regulatory projects during that time.

Annamarie Phelps, chair of the BHA, stated: “We are delighted to welcome David to the BHA Board. He brings with him substantial insight and enthusiasm for the racing industry, which has been exhibited through his invaluable contribution to a number of recent industry projects, and his time as a well-respected member of our stewarding team.

“Our sincere thanks go to Andrew Merriam for his immense service to the BHA Board across many areas and committees, and his continued service to the sport of racing. It would be hard to find a better liked or more respected individual and his contribution to the racing industry during his three terms at the BHA has been significant indeed.”

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Part 47 | On the move: Recruitment round-up https://casinobeats.com/2020/11/20/on-the-move-recruitment-round-up-47/ Fri, 20 Nov 2020 10:10:56 +0000 https://casinobeats.com/?p=40237 With plenty of comings and goings around the industry, allow CasinoBeats to give you the rundown on a number of recent manoeuvres. Greentube Greentube has promoted Steven Batchelor-Manning to the role of director of games technology, as the Novomatic interactive division aims to unveil a “transformative igaming platform”. Having previously occupied numerous roles with the company during the […]

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With plenty of comings and goings around the industry, allow CasinoBeats to give you the rundown on a number of recent manoeuvres.

Greentube

Greentube has promoted Steven Batchelor-Manning to the role of director of games technology, as the Novomatic interactive division aims to unveil a “transformative igaming platform”.

Having previously occupied numerous roles with the company during the course of the last eight years, including his most recent role as lead architect, Batchelor-Manning is lauded as playing a key role in the development of the company’s brand new RGS platform.

In his new appointment, he will lead on the delivery of technology which will allow the supplier to bolster its product catalogue with market-leading features.

Michael Bauer, Greentube CFO/CGO, said: “Steven’s technical vision and ambition to leverage modern technologies is a major asset for Greentube and it’s been fantastic to watch his career advance within our company.

“As we start rolling out our innovative RGS platform in Q1 next year, Steven’s appointment comes at a critical time for our business and he will play a key part in driving the future direction of our games vertical.”

Scientific Games

Scientific Games has appointed Laura Probert as chief people officer for the company’s digital team, where she will gain responsibility for the business unit’s HR function.

Probert joins from global advertising agency WPP, where she was group VP of talent for outcome media company, Xaxis. In the new role, Probert will be reporting to Scientific Games Digital group CEO Jordan Levin and global CHRO Eileen Moore Johnson.

Levin said: “Laura’s extremely experienced in HR management having worked with some of the world’s leading brands and will be a fantastic addition to our team.

“Our people continue to drive the transformation of our technology and products and their well-being has always be one of our key priorities. Laura has exceptional experience in this area and a passion for putting diversity, inclusion and people performance at the heart of business strategy.”

Penn National Gaming

Carl Sottosanti, executive vice president, general counsel and secretary of Penn National Gaming, is to retire at the end of this year, following a “distinguished” 17-year career at the firm.

Sottosanti is praised as having played a critical role in helping drive the company’s growth and evolution from a small regional gaming operator into a country wide omnichannel provider of retail and interactive gaming, sports betting and entertainment.

Subject to customary regulatory approvals, Harper Ko will join the firm as EVP, chief legal officer and secretary, effective January 1, 2021. Ko joins PNG from Everi, where she has served as EVP and chief legal officer – general counsel.

“Throughout his career at Penn National, Carl has been known for his tireless work ethic, dogged determination, and fierce advocacy in support of our company’s interests,” said Jay Snowden, president and CEO.

“Carl has been a trusted personal advisor and a consummate teammate, and while he’ll be leaving behind some big shoes to fill, I’m confident that Harper Ko will do a great job in carrying on the standard of excellence that Carl has established for our legal department.”

Adding: “Harper brings a wealth of expertise regarding the industry’s complex regulatory and compliance requirements that will serve us well as we continue to execute our growth strategies across our land-based, interactive and sports betting platforms. We’re excited to add someone of her calibre to our team.”

Churchill Downs

Churchill Downs Incorporated has announced that after 11 years at the helm of the legendary racetrack, Kevin Flanery has decided to retire as president of Churchill Downs at the end of 2020.

Flanery’s 15-year tenure at CDI began in December 2005 as vice president of national public affairs, with subsequent promotions seeing him named senior vice president of national public affairs and communications in March 2008 before being appointed to the role of thirteenth president of Churchill Downs Racetrack and a SVP of CDI in July 2009.

CDI says that it will immediately begin the search to fill the role of president of Churchill Downs Racetrack. Bill Mudd, president and chief operating officer of CDI, will act as interim president of Churchill Downs Racetrack until a successor is named.

“Kevin has been a pivotal leader in the growth and evolution of Churchill Downs, not only at the racetrack, but across the company,” commented Bill Carstanjen, CEO of CDI.

“His focus on bold capital investments and unmatched fan experiences has had a direct and enduring impact on the success of the Kentucky Derby and his leadership has navigated Churchill Downs Racetrack through many unexpected challenges, not the least of which has been the unforeseen circumstances of 2020.

“Having worked side by side with Kevin over the last 15 years, I offer sincere gratitude for his friendship and his leadership and we wish him all the best in his retirement. His has been an important and impactful chapter in the history of Churchill Downs Racetrack.”

HeadsUp Entertainment

HeadsUp Entertainment International has announced that Doug Wilson has been named as the company’s president and CEO, joining fellow recent recruit Mark Hutchinson in joining the firm’s management team.

Boasting over three decades of experience operating firms across various technology sectors, Wilson also currently consults to several other business entities, including a land asset firm as well as private equity interests primarily focused on digital media, gaming and charity sectors.

HeadsUp Entertainment says that additional members of the gaming, broadcasting, entertainment, and interactive technology sectors will be announced next as part of the firms new strategic advisory board. Both Wilson and Hutchinson will also be nominated for addition to the board of directors.

“I look forward to the challenge of leading HeadsUp into the new era of digital gaming as the new landscape for North American and global licensing is quickly opening up billion-dollar markets,” stated Wilson.

Condor Gaming

Alexendre Ouknine has been recruited as CTO of Condor Gaming as the firm, which boasts five casino and sportsbook brands as part of its stable, aims to secure the next stage of its strategic expansion.

Ouknine bring over two decades of experience to the role, and his appointment strengthens the company’s tech hubs in Croatia and Bulgaria, as plans emanate of potential expansion across Europe and Asia. India, Japan, CIS and Canada are stipulated as key targets for the group’s expansion.

“I’m honoured to get the chance to start at this stage of Condor gaming’s development. We all intend to bring this company to a technological level unparalleled in the industry. The sky’s the limit,” Ouknine noted.

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Part 4 | On the move: Recruitment round-up http://casinobeats.com/2019/09/27/on-the-move-recruitment-round-up-4/ Fri, 27 Sep 2019 12:01:59 +0000 http://casinobeats.com/?p=21799 With plenty of movers and shakers around the industry, allow CasinoBeats to give you the rundown on a number of recent appointments. Gamstop National online self-exclusion scheme Gamstop has announced that Mike Dixon, CEO of Addaction, has been appointed as a non-executive director. Specialising in developing treatment support networks and operating voluntary communities, Dixon has […]

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With plenty of movers and shakers around the industry, allow CasinoBeats to give you the rundown on a number of recent appointments.

Gamstop

National online self-exclusion scheme Gamstop has announced that Mike Dixon, CEO of Addaction, has been appointed as a non-executive director.

Specialising in developing treatment support networks and operating voluntary communities, Dixon has served as chief executive of addiction recovery and mental health charity Addaction since May 2017.

Jenny Watson, Chair of Gamstop, stated:“These changes help to strengthen our
independence and I would like to thank the RGA for the constructive nature of our
discussions. As we continue to develop, Mike Dixon’s insight and experience will
provide the operational team with strong independent challenge.”

Penn National Gaming

Casino and racetrack operator Penn National Gaming is to begin searching for a new CFO next year, when William Fair steps down at the conclusion of his current employment contract term, which expires March 31, 2020.

Fair has agreed to stay with the company until the end of 2020’s first quarter in order to allow time for a formal search for his successor, as well as ensure a seamless transition of responsibilities.

He has served in the current role of CFO since 2017, after joining Penn as senior vice president and chief development officer five years ago.

Timothy Wilmott, Penn’s CEO, commented, “We want to express our sincere gratitude to BJ for his many contributions to Penn National’s success during what has been a transformational period for our Company.

“Over the last five years, BJ has played a significant role in overseeing and structuring the financing strategies for our major growth initiatives, which include our recently completed acquisition of Pinnacle Entertainment, the ongoing development of our two new Pennsylvania during BJ’s tenure, he oversaw the construction of Plainridge Park Casino and helped lead our efforts to acquire Tropicana Las Vegas, Margaritaville Resort, and most recently Greektown Casino.”

Hawthorne Race Course

In anticipation of its licensure as part of Illinois’ recent casino and gaming expansion, Hawthorne Race Course has hired Kevin Kline as its new CEO of gaming.

This comes as the business applies to the state’s gaming board for a casino gaming licence, with judgement expected to be brought forward before the end of the year.

Among Kline’s prior experience is of COO and GM of Resorts World Catskills and Monticello Raceway for Empire Resorts in New York, as well as leading the opening of the first casino in Ohio in the $450m Horseshoe Cincinnati.

“The integration of casino-style gaming at Illinois race tracks is a tremendous opportunity that comes with unique challenges and responsibilities,” explained Tim Carey, CEO and president of Hawthorne Casino and Race Course.

“Our goal is to develop one of the nation’s premiere gaming experiences and an all-star executive team will be crucial. Kevin has a proven track record of successful ground-up developments of new casinos and multi-property management including at race tracks, plus direct experience with gaming in the Chicagoland market.”

JPJ

A trio of board changes haven taken place at the enlarged Gamesys Group, which sees Lee Fenton appointed as CEO, Robeson Reeves as COO and Simon Wykes, formerly CEO of operations at Jackpotjoy, moved to the role of transition director, and will remain on the JPJ Board for a 12-month tenure.

This comes as JPJ Group completes the £490m acquisition of Gamesys, with the entity now offering bingo and casino games via jackpotjoy.com, virgingames.com, botemania.es, verajohn.com, heartbingo.co.uk and monopolycasino.com.

“Following [the] successful completion, I am very excited to join the enlarged group as CEO,” Fenton noted.

“The combination of two leading and complementary businesses has created an organisation with greater scale and capability which stands the new Gamesys Group in good stead as the competitive and regulatory environment continues to evolve.”

San Manuel Band of Mission Indians

An executive leadership team has been established by the San Manuel Band of Mission Indians, designed to support the tribe in its governmental and commercial endeavours.

Consisting of six positions, Peter Arceo, general manager of San Manuel Casino, is to oversee all operations for the property, which represents the primary economic venture of the tribe.

He will be joined by Erin Copeland, chief legal and compliance officer, Dan Little, chief intergovernmental and tribal affairs officer, Brigitte Saria, chief people and infrastructure officer, Rikki Tanenbaum, CMO and Laurens Vosloo, CFO.

The six are to report directly to CEO Loren Gill, who commented: It is an exciting time at San Manuel. I am truly honoured to work with so many outstanding leaders who have been critical to our success.

“Ensuring we have the right people in the right places is a major priority for us and this is the first step in setting a strong foundation that allows for future growth and development. I’m excited for each of them in this next step in their career as they’re all deserving of this recognition and promotion.”

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A ‘unique’ approach, information security and NCPG: The week in numbers http://casinobeats.com/2020/02/03/a-unique-approach-information-security-and-the-ncpg-the-week-in-numbers/ Mon, 03 Feb 2020 09:15:31 +0000 http://casinobeats.com/?p=26746 Each week, CasinoBeats breaks down the numbers behind some of the industry’s most interesting stories. Today we feature BetGames.TV’s latest ‘unique’ approach, BettingUSA.com joining the NCPG and Play’n Go’s information security acqusition. 6 BetGames.TV has launched 6+ Poker, a game featuring a reduced 36-card deck, that continues its ‘unique’ approach to delivering a fresh take […]

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Each week, CasinoBeats breaks down the numbers behind some of the industry’s most interesting stories. Today we feature BetGames.TV’s latest ‘unique’ approach, BettingUSA.com joining the NCPG and Play’n Go’s information security acqusition.

6

BetGames.TV has launched 6+ Poker, a game featuring a reduced 36-card deck, that continues its ‘unique’ approach to delivering a fresh take on existing casino games.

Both “subtly and radically” different from a traditional poker hand, the concept of 6+ Poker is based on a variation of the popular standard ‘Hold Em’ version. 

The standard rules of the game, said the company’s COO Aiste Garneviciene, have been tweaked for “absolute user interaction, encapsulating an individual look, feel and gameplay”.

Each draw consists of a 36-deck card with the lowest card number being a six. Big hands are in play much more often because of the increased mathematical probability of winning with, for example, a straight, full house or three of a kind.

BetGames.TV CCO Richard Hogg is thrilled at the prospect of the new game taking the market by storm and explained that in the industry of iGaming, a company must always look to create “new win-opportunities” for stakeholders.

“The game is based on creating a feeling of winning big especially with 36 cards in the deck and non-stop action,” he added. “There are also highly competitive odds and win-chances.”

163

Penn National Gaming has acquired a 36 per cent stake in Barstool Sports following the completion of an approximate $163m multi-faceted deal.

Unveiling the igaming and sports betting partnership, the casino and racetrack operator becomes Barstool’s exclusive gaming partner for up to 40 years and gains the sole right to utilise the brand for all online and retail sports betting and online casino products.

Jay Snowden, president and chief executive officer of Penn National, said of the announcement: “This exciting new partnership with Barstool Sports reflects our strategy to continue evolving from the nation’s largest regional gaming operator, with 41 properties in 19 states, to a best-in-class omni-channel provider of retail and online gaming and sports betting entertainment.”

After a three year period, Penn will increase its ownership to approximately 50 per cent with an incremental investment of approximately $62m, consistent with the implied valuation at the time of the initial purchase.

Dave Portnoy, founder of Barstool Sports, commented: “This opportunity is a dream of mine and why I started Barstool Sports in the first place. Barstool Sports has a deep sports and gaming history and from the moment we met Jay and the Penn National team we knew this could be an exciting and game changing partnership and we can’t wait to get started. I think with our shared vision and goals, we are uniquely positioned to be a leader in this business.”

1

Calling on others to join the initiative, BettingUSA.com, the US online gambling affiliate, has pledged to donate one per cent of all earnings to the National Council on Problem Gambling (NCPG).

The move has been made in order to help minimise the harms that it says ‘will likely occur’ as a result of the expansion of gambling and sports betting in the country.

“NCPG advocates for states to earmark one per cent of gambling revenues to responsible gaming and problem gambling programs, and since most states fall well short of that target, we believe that it is in the best interests of the industry to contribute,” stated Steve Ruddock, analyst and content director at BettingUSA.com’s.

Keith Whyte, NCPG executive director, explained: “The rapid expansion of sports betting and mobile gambling has led to numerous challenges and significant opportunities for everyone involved, including affiliates.

“These gambling affiliates play an important role in the online gambling ecosystem, and they have the unique opportunity to take a leadership role in responsible gambling efforts in the emerging US market.”

27001

Play’n Go, the gaming content developer, has been granted the ISO 27001 certification, an international standard in information security.

Having been awarded this certification, Play’n Go can now guarantee customers they are compliant with national and international regulations (such as GDPR), which in turn minimises the risk of costly penalties and fines. 

Cedric Mallia, security and GDPR manager, discussed the latest certification: “ISO 27001 is a testament to our commitment to our client’s security and well being in the industry. ISO 27001 it is not a mandatory standard, but we are willing to go above and beyond to ensure that we are giving our customers more. 

“It shows we are continuing to build a solid security foundation based upon international standards and best practice, and taking appropriate control measures to protect confidential and privileged information. Clients know they are in the best hands with us.”

The ISO 27001, which is described as ‘a lifestyle that empowers a business to improve its overall information security posture, is awarded to companies that adopt an information security management system that takes into consideration people, processes and systems.

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Rebranded PENN Entertainment buoyed by Q2 interactive gains https://casinobeats.com/2022/08/04/rebranded-penn-entertainment/ Thu, 04 Aug 2022 14:30:08 +0000 https://casinobeats.com/?p=70465 The rebranded PENN Entertainment has detailed “an exciting day” amid what are dubbed as pleasing second quarter results which saw revenue increase but net income and adjusted EBITDA decline year-on-year. As the former Penn National Gaming‘s interactive segment was toasted for continued growth, and continued retail and digital expansion across the US eyed, the firm […]

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The rebranded PENN Entertainment has detailed “an exciting day” amid what are dubbed as pleasing second quarter results which saw revenue increase but net income and adjusted EBITDA decline year-on-year.

As the former Penn National Gaming‘s interactive segment was toasted for continued growth, and continued retail and digital expansion across the US eyed, the firm detailed that its name alternation represents the next step in the transformation of the business.

“Our new name maintains ties to our legacy while better reflecting our evolution into North America’s leading provider of integrated entertainment, sports content and casino gaming experiences,” stated Jay Snowden, Chief Executive Officer and President.

As PENN seeks a further roll-out of its cashless, cardless and contactless tech through the end of the year, from a current nine properties in three states to twelve additional venues by the end of 2022, revenue during the second quarter closed at £1.62bn.

This figure represents a 5.2 per cent increase from $1.54bn YoY, driven by increases across the board except for the group’s south segment which dropped to $338.6m (2021: $368.2m).

The group’s other core land-based divisions of northeast, west and midwest increased to $684.9m (2021: $652.5m), $153.8m (2021: $140.4m), and $296.3m (2021: $294.8m), respectively.

Net income of $26.1m through the three months declined sharply from 2021’s $198.7m, with adjusted EBITDA down 14 per cent YoY to $504.5m (2021: $586.6m).

“Despite economic headwinds, we delivered consistent performance across our retail portfolio in the quarter and into July,” said Snowden. 

“In addition, last month, we successfully transitioned theScore Bet in Ontario to our own fully-integrated, proprietary tech stack – reflecting a key achievement in our strategic roadmap.”

On the interactive front, revenue increased 61.35 per cent YoY to $154.9m (2021: $96m), with adjusted EBITDA closing the period at a loss of $20.8m from a profit of $1.8m during the prior year period.

As PENN looks to migrate the Barstool Sportsbook in the US onto its new tech stack in Q3 2023, the group’s game studios are also looking to develop “engaging Barstool branded content for our Barstool icasino app.” 

Snowden continued: “In Q2 2022, we also introduced 97 new slot and table game offerings across our icasino platforms. Our pipeline of future customised and third-party icasino content for both Barstool and theScore Bet remains robust.”

On a retail basis, Barstool branded sportsbooks are said to be resonating “younger demographics and create meaningful cross-sell opportunities”.

The group’s recently converted Lake Charles entity is lauded as setting “a new standard” with encouraging results in visitation and spending. Further Barstool branded retail sportsbook launches are expected in Kansas and Ohio

“Additionally, with the passage of sports betting in Massachusetts earlier this week, the birthplace of Barstool Sports and home to our Plainridge Park Casino, we are excited to add yet another possible retail launch by the end of this year while mobile wagering is anticipated in 2023,” Snowden closed.

Furthermore, based on the company’s second quarter performance, PENN has reiterated its 2022 full-year revenue and AEBITDAR guidance range of $6.15bn to $6.55bn and $1.875bn to $2bn, respectively.

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Ex-Penn National Gaming employee charged with insider trading https://casinobeats.com/2022/06/14/ex-penn-national-gaming-employee-charged-with-insider-trading/ Tue, 14 Jun 2022 11:00:00 +0000 https://casinobeats.com/?p=67573 The Securities and Exchange Commission has announced insider trading charges against a former Penn National Gaming employee regarding the Pennsylvania headquartered firm’s $2bn cash and stock acquisition of Score Media and Gaming. The complaint, filed in federal district court in Philadelphia, alleges that David Roda, who served as Senior Backend Architect and Director of Backend […]

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The Securities and Exchange Commission has announced insider trading charges against a former Penn National Gaming employee regarding the Pennsylvania headquartered firm’s $2bn cash and stock acquisition of Score Media and Gaming.

The complaint, filed in federal district court in Philadelphia, alleges that David Roda, who served as Senior Backend Architect and Director of Backend at PNG during a near three year stint, breached confidentiality duties  

“Insider trading undermines faith in our financial markets and harms ordinary investors who play by the rules,” said Jennifer Williams, US Attorney for the Eastern District of Pennsylvania. 

“As alleged, David Roda placed himself above the law by using information to which he had privileged access to cheat the market and other investors.”

It is said that Roda learned in early July 2021 that a potential PNG takeover of Score Media and Gaming was on the cards, and was warned not to trade on that information.

However, 500 out-of-the-money call options were purchased in the weeks and days leading up to the announcement of the acquisition, with Roda also said to have tipped long-time friend Andrew Larkin, also charged by the SEC, who subsequently bought 375 Score Media shares.

According to the SEC’s complaint, the company’s stock price increased nearly 80 percent after the two companies publicly announced their deal, following which Roda and Larkin sold their holdings for profits of $560,762 and $5,602, respectively.

“As we allege in our complaint, Roda was entrusted by his employer with critical, market-moving information, and he betrayed that trust by using the information to trade and also tip his friend so they could both profit,” noted Scott Thompson, Co-Acting Regional Director of the SEC’s Philadelphia Regional Office. 

“When employees like Roda misappropriate and trade on confidential information, it erodes market confidence. The SEC remains committed to finding, investigating, and charging those who engage in insider trading.”

Both Roda and Larkin agreed to pay disgorgements and other penalties related to the charges. Larkin did not concede guilt, but did agree to pay $11,000 in fines. The total amount of Roda’s payment will be determined at a later date.

“David Roda allegedly traded on material, non-public information and made out like a bandit,” said Jacqueline Maguire, Special Agent in Charge of the FBI’s Philadelphia Division. 

“Insider trading like that is patently unfair to investors and a direct threat to the integrity of our financial markets. 

“The FBI takes this crime seriously, and if you decide the risk of such illegal behaviour is worth the potential reward, know that we will investigate and ensure you’re held accountable.”

This follows allegation of insider trading related to MGM Resorts International’s acquisition of Swedish company LeoVegas. Last week, LeoVegas said it was fully cooperating with Swedish authorities overseeing the investigation.

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PNG sets Q1 records as interactive generates ‘meaningful growth’ https://casinobeats.com/2022/05/05/png-sets-q1-records-as-interactive-generates-meaningful-growth/ Thu, 05 May 2022 14:30:00 +0000 https://casinobeats.com/?p=65999 Penn National Gaming is looking to advance its cashless capabilities across further properties, as the casino and entertainment operator reflects on a first quarter that “generated record first quarter results”. Revenue closed the period up 22.7 per cent to $1.56bn (2021: $1.27bn) as adjusted EBITDA increased 10.7 per cent to $494.7m (2021: $447m), however, net […]

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Penn National Gaming is looking to advance its cashless capabilities across further properties, as the casino and entertainment operator reflects on a first quarter that “generated record first quarter results”.

Revenue closed the period up 22.7 per cent to $1.56bn (2021: $1.27bn) as adjusted EBITDA increased 10.7 per cent to $494.7m (2021: $447m), however, net income dropped from $90.9m to $51.6m year-on-year.

“Penn National Gaming generated record first quarter results with revenues of $1.56bn and adjusted EBITDAR of $494.7m,” noted Jay Snowden, President and Chief Executive Officer. “These results reflect our continued progress in meeting our strategic objectives.”

Across its land-based operations, PNG noted that it remains encouraged by the ongoing visitation from younger demographics, and will subsequently adopt a focus on reimagining its properties and offerings to enhance the appeal to this segment.

Revenue across its properties closed at $1.42bn driven by increases across all core segments, as venues across the northeast, south, west and midwest increased to $658.5m (2021: $570.9m), $341.4m (2021: $295.9m), $140.9m (2021: $96.6m), and $282.9m (2021: $234.7m), respectively. Adjusted EBITDAR came in at $528.4m.

As gains were driven by the introduction of online and retail sportsbook offerings and the recently opened Hollywood Casino York and Morgantown casinos in Pennsylvania, PNG is also looking to swell its cashless, cardless and contactless technology across more of its estate.

“This technology is now live at nine properties in three states and has increased the value of the guest in terms of visitation frequency and time on device,” noted Snowden.

“We plan to introduce the 3C’s in an additional 14 properties in eight states over the next two quarters pending regulatory approval.”

The group’s interactive segment is lauded as generating “meaningful growth year over year,” driven by recent launches in Louisiana and Ontario that Snowden acknowledged that “although early, we have been very encouraged by the results.”

Despite recording revenue of $141.5m through its interactive division through the quarter, PNG reports that net loss closed the period at $10m.

Snowden commented: “In Q3 2022, we expect to transition theScore Bet in Ontario to theScore’s proprietary risk and trading platform, which will allow us to significantly bolster the product’s features and capabilities, including expanded betting markets and exclusive bet features. 

“We also remain on track to transition the Barstool Sportsbook to theScore’s PAM and trading platform in Q3 2023, which will provide meaningful cost and revenue synergy opportunities.”

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Penn National and USI combine to strength North American operations https://casinobeats.com/2022/04/26/penn-national-and-usi-combine-to-strength-north-american-operations/ Tue, 26 Apr 2022 13:20:00 +0000 https://casinobeats.com/?p=65481 Penn National Gaming and US Integrity have linked to strengthen operations for both companies across the US and Canadian regulated markets.  Under the terms of the deal, USI will supply its integrity monitoring services, via its proprietary dashboard, to Penn National. Moreover, the firm will also provide Penn with analysis across various data sets to […]

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Penn National Gaming and US Integrity have linked to strengthen operations for both companies across the US and Canadian regulated markets. 

Under the terms of the deal, USI will supply its integrity monitoring services, via its proprietary dashboard, to Penn National. Moreover, the firm will also provide Penn with analysis across various data sets to proactively identify irregular content-evel officiating and wagering patterns. 

Matthew Holt, USI’s CEO & Co-Founder, explained: “US Integrity is proud to partner with Penn National and assist as they grow their brands across the US and Canadian regulated sports wagering markets.

“USI’s mission is to provide conflict-free, best in class insights and compliance solutions to our clients. We are looking forward to working with the exceptional team at Penn National; all our partners are committed to the highest integrity standards, and they are no exception. 

“These types of partnerships help ensure sports betting integrity and strengthen the unique & proprietary anomaly detection tools we have developed at US Integrity.”

Adding to the thoughts of Holt, Chris Soriano, Chief Compliance Officer of Penn National, lauded the collaboration, stating USI “play a pivotal role” in combating suspicious wagering. 

He concluded: “We are excited to be working with US Integrity as we continue to expand our industry leading brands Barstool Sportsbook and theScore Bet across the regulated US and Canadian markets.

“USI’s commitment to maintaining integrity as well as their proactive approach will play a pivotal role in detecting and sharing any potentially suspicious wagering activity.”

USI’s team up with Penn follows closely from its partnership with PointsBet which saw its solutions launch with the brand in Canada, representing its maiden client outside of the regulated US market. 

Furthermore, Penn recently lauded its myheroes programme stating its properties “embraced” the initiative, with the casino operator claiming it has “made it such a success”. 

Initially launched last year in celebration of Armed Forces Day 2021, myheroes, which has surpassed the enrollment of 100,000 members, is designed to honour active-duty military, veterans and first responders.

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Toronto Blue Jays strike ten-year deal with theScore https://casinobeats.com/2022/04/08/toronto-blue-jays-strike-ten-year-deal-with-thescore/ Fri, 08 Apr 2022 10:30:00 +0000 https://casinobeats.com/?p=64819 theScore Bet and the Toronto Blue Jays have disclosed a ten-year exclusive partnership that designates the former as an official gaming partner of the franchise. Lauded as “landmark deal” and “historic partnership,” the alliance represents the Blue Jays’ first gaming partner and theScore Bet’s maiden professional team sponsorship. The agreement will see the Penn National […]

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theScore Bet and the Toronto Blue Jays have disclosed a ten-year exclusive partnership that designates the former as an official gaming partner of the franchise.

Lauded as “landmark deal” and “historic partnership,” the alliance represents the Blue Jays’ first gaming partner and theScore Bet’s maiden professional team sponsorship.

The agreement will see the Penn National Gaming subsidiary gain exclusive national marketing rights that extend across all gaming categories, including sports betting, casino, online casino, and fantasy sports. 

Furthermore, the pair also plan to create a branded flagship sports bar and restaurant at Rogers Centre that will serve as an entertainment hub and destination for fans.

“The fan experience is evolving and this monumental partnership with theScore Bet offers compelling new ways for sports enthusiasts to be a part of the game,” stated Mark Shapiro, President & CEO of Toronto Blue Jays. 

“We are excited to be partnering with a Canadian company that operates at the highest level of the industry and understands our role in Toronto and Canada, to bring baseball to more fans nationwide.”

The partnership will deliver exclusive in-stadium and digital offerings to Blue Jays fans and theScore Bet users through various sponsorship elements, including two seating sections on the baselines, in-stadium branding, in-game features, a host of team-related experiences, and names theScore Bet as the presenting partner of the Jays Care 50/50 program.

“theScore Bet is proudly Canadian and we are thrilled to make Canada’s baseball team our long-term partner,” said John Levy, CEO, theScore Bet. 

“This is a foundational partnership with a team and organisation that is deeply embedded in our country’s sports culture. Teaming with the Blue Jays opens up exciting new exclusive marketing opportunities and brings theScore Bet even closer to a huge audience of passionate and engaged fans, both on-site at Rogers Centre and online across our platforms. 

“With our combined loyal audiences and brand affinity in Ontario, we believe this deal will establish a new standard for team and gaming operator relationships as we pioneer innovative ways to experience and interact with the game.”

Adding: “We look forward to working with Mark, the partnerships team and the entire Blue Jays organisation on what we know will be a mutually rewarding and successful partnership for many years to come.”

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Penn National celebrates myheroes success with $100,000 support https://casinobeats.com/2022/03/01/penn-national-celebrates-myheroes-success-with-100000-support/ Tue, 01 Mar 2022 13:15:00 +0000 https://casinobeats.com/?p=62829 Penn National Gaming has lauded how its properties have “embraced” its myheroes program, which the casino and entertainment operator says has “made it such a success”. Initially launched last year in celebration of Armed Forces Day 2021, myheroes, which has surpassed the enrollment of 100,000 members, is designed to honour active-duty military, veterans and first […]

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Penn National Gaming has lauded how its properties have “embraced” its myheroes program, which the casino and entertainment operator says has “made it such a success”.

Initially launched last year in celebration of Armed Forces Day 2021, myheroes, which has surpassed the enrollment of 100,000 members, is designed to honour active-duty military, veterans and first responders.

In celebration of the milestone, the company has dedicated $100,000 to support local veterans organisations and first responder groups in the communities in which the group operates.

The program, an exclusive, fully integrated extension of PNG’s mychoice rewards loyalty program, provides the US’ active-duty military, veterans and first responder patrons, and their chosen companion, access to exclusive discounts, offers and unique events across its 44 properties in 20 states.

“The ‘myheroes’ program is our way of honouring and giving back to all those heroes who have sacrificed so much for our safety. I’m proud of how our properties have embraced this program and made it such a success,” said Jay Snowden, President and CEO of Penn National

“As we reach this milestone, we’re pleased to contribute $100,000 to local veterans and first responder organizations across the country that are helping to make a difference in our communities.

“We look forward to further developing this unique program and supporting our nation’s heroes as part of Penn National’s ongoing charitable and community outreach.”

Last month, Snowden lauded an ability “to deliver impressive results despite the ongoing pandemic,” with Q4 revenue of $1.57bn and adjusted EBITDAR of $480.5m exceeding both 2020 and 2019 levels of $1.02bn and $365.4m and $1.34bn and $199.4m, respectively.

Furthermore, the operator also disclosed net income of $44.8m, contrasted to $12.7m in 2020 and a loss of $92.9m two years earlier.

For the full year, revenue of $5.9bn through 2021 represented an increase from both $3.57bn and $5.3bn in 2020 and 2019, respectively, with adjusted EBITDA closing at $1.99bn (2020: $1.09bn & 2019: $1.6bn).

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