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Penn National Gaming Names Timothy Wilmott to Board of Directors [Professional Services Close - Up](Professional Services Close - Up Via Acquire Media NewsEdge) Penn National Gaming reported that its Board of Directors has, subject to customary regulatory approvals, appointed the Company's Chief Executive Officer, Timothy J. Wilmott, to the Board effective immediately. According to a company release, Wilmott's appointment will expand the size of the Board to seven members, five of whom satisfy the standards for director independence under the current Listing Rules of the NASDAQ Stock Market. Tim Wilmott joined Penn National Gaming in February 2008 as President and Chief Operating Officer and was named Chief Executive Officer in November 2013, the company noted. Wilmott had served at Harrah's Entertainment (now Caesars Entertainment) since 1987 and was Chief Operating Officer at Harrah's for approximately four years. Peter M. Carlino, Chairman of Penn National Gaming, commented, "Since joining the Company in 2008, Tim has been steadfast in diversifying our operations in a return focused manner while fostering our employees' commitment to deliver quality guest services across the property portfolio. In addition, in the eleven months since we separated the Company's real estate assets from our operating assets, Tim has built formidable corporate and operating management teams that have consistently delivered strong margins from existing operations, successfully opened new facilities and developed exciting expansion opportunities in new markets, including Ohio, Massachusetts and California. The Board has great confidence in Tim and we look forward to his contributions as we leverage the Company's diversified regional presence, proven management team, property development capabilities, strong balance sheet, acknowledged operating discipline, the highly regarded Hollywood Casino brand, and robust customer database to enhance shareholder value." ((Comments on this story may be sent to [email protected])) (c) 2014 ProQuest Information and Learning Company; All Rights Reserved. |