WYOMISSING, Pa.--(BUSINESS WIRE)--
Penn National Gaming, Inc. (PENN: Nasdaq) (“Penn National” or the “Company”) announced today that Nelson N. Parker has been named Senior Vice President of Corporate Development, effective May 30, 2017, subject to customary regulatory approvals. Mr. Parker brings a 20-year track record of success in project development and investment management to Penn National and will report directly to the Company’s Chief Financial Officer, William J. Fair.
Nelson Parker joins Penn National from Hard Rock International, where he most recently served as Senior Vice President of Hotel & Casino Development. As a member of the Hard Rock development team since 2010, Mr. Parker oversaw commercial and tribal development activities, was responsible for securing gaming licenses in new domestic and international jurisdictions, and participated in several M&A transactions, all of which led to Hard Rock’s property portfolio growth. From 2005 to 2010, he served in a variety of development roles at Foxwoods Resort Casino, including as Vice President of Development. In that role, he led all aspects of new commercial and tribal resort casino development and acquisition efforts for Foxwoods’ growth initiatives. He also served from 2003 to 2005 at Argosy Gaming Company in several roles, including as Corporate Director of Development, and worked on the acquisition of the pari-mutuel property which has since become Hollywood Gaming at Dayton Raceway. Prior to his involvement in gaming and lodging, Mr. Parker held senior level positions for several Midwestern private equity groups where he was involved in numerous acquisitions and participated as an active board member for multiple portfolio companies. He holds a BA in Business Administration with an emphasis in Management from Transylvania University. At Penn National, Mr. Parker will be responsible for corporate growth and development initiatives.
Commenting on Mr. Parker’s appointment, Mr. Fair said, “We are delighted to welcome Nelson to the Company and believe that his proven experience with complex development projects and M&A transactions of all sizes is an ideal fit with our strategic growth plans and focus on providing our patrons with excellent entertainment experiences. His expertise will support our goals of optimizing our growing regional gaming portfolio and strengthening our multi-channel distribution platform while pursuing opportunities to further expand the scale and diversity of our operations to build shareholder value.”
About Penn National Gaming
Penn National Gaming owns, operates or has ownership interests in gaming and racing facilities and video gaming terminal operations with a focus on slot machine entertainment. The Company also recently expanded into social online gaming offerings via its Penn Interactive Ventures, LLC division and its recent acquisition of Rocket Speed Inc. At March 31, 2017, the Company operated twenty-seven facilities in seventeen jurisdictions, including California, Florida, Illinois, Indiana, Kansas, Maine, Massachusetts, Mississippi, Missouri, Nevada, New Jersey, New Mexico, Ohio, Pennsylvania, Texas, West Virginia, and Ontario, Canada. At March 31, 2017, in aggregate, Penn National Gaming operated approximately 35,000 gaming machines, 800 table games and 4,600 hotel rooms.
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,” “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 may include, among others, statements concerning future transactions, development projects, portfolio growth and required regulatory approvals, as well as other factors as discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016, subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, each as filed with the United States Securities and Exchange Commission. The Company does not intend to update publicly any forward-looking statements except as required by law. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release may not occur.
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