Penn National CEO buys shares
The American gaming company’s CEO Timothy Wilmott bought 100,000 shares.
US.- With new business under the spotlight, the CEO of American gaming company Penn National Gaming (PNG), Timothy Wilmott extended the business’ shares with the purchase of 100,000 shares at a cost of US$3.1 million, according to the financial report released yesterday afternoon by the international press.
The statement sent to the United States Securities and Exchange Commission (SEC), with the filing date established on August 15th indicates that the company’s CEO bought the shares at an average price of US$30.85 each. The transaction was made right after the company extended its business in two states.
Recently, Penn National Gaming announced they will start offering sports betting roll-outs in Mississippi and West Virginia, as the sector will now operate legally under the US Supreme Court’s resolution. However, the American sports betting and gaming company has not pronounced on the CEO’s purchase yet.
Furthermore, Penn National Gaming has already applied for a licence to offer sports betting, becoming the first company to do so. The operator recently submitted a 107-page application to the Pennsylvania Gaming Control Board (PGCB) and is now expecting to reeive the regulator’s approval. However, a spokesman for the PGCB said it is unlikely that PNG will be cleared to take sports wagers before October.
