Penn National CEO to retire this year
The CEO of Penn National has revealed that he will retire at the end of the year and will be replaced by Jay Snowden.
US.- Timothy Wilmott, CEO of Penn National Gaming, has announced his retirement at the end of the year. The executive revealed the news in the second quarter financial results report released on Thursday by the company.
Wilmott has been part of the industry for over 30 years and has been CEO of Penn National since 2013. Jay Snowden, COO since 2014 and President since 2017, will replace Wilmott at the end of the year.
“I am very grateful for the opportunity to have led Penn National through a transformational period in the company’s history, including the acquisition of Pinnacle Entertainment, the creation of the industry’s first gaming REIT and other initiatives that have driven growth, created shareholder value and positioned the company for future success,” said Wilmott.
Moreover, Snowden said that this is a very dynamic time for the company. He said he is excited, honoured and humbled to lead Penn National into the future.
Penn National partners with Kambi
Kambi Group plc, the leading global sports betting supplier, has entered into an exclusive, long-term sportsbook partnership agreement with Penn National Gaming, Inc., the largest regional gaming operator in North America.
Following a competitive selection process, Nasdaq-listed Penn National Gaming, Inc., which operates more than 40 gaming facilities across 19 US states, will integrate the Kambi Sportsbook platform ahead of an on-property and online rollout in jurisdictions with active sports betting legislation.
Legal sports betting is currently active or pending in at least eight states where Penn National operates a gaming property. The list includes West Virginia, Pennsylvania, Iowa and Nevada. Moreover, bills that seek to regulate sports betting are on file across numerous states where Penn National has a land-based presence. They could potentially give Penn National unrivalled access to regulated sports betting markets across the country.
The first launches are due to take place in 3Q19. Initially focusing on Penn National’s brick and mortar casinos in Iowa and Indiana, with online to follow in 2020.
