HG Vora Capital Management, LLC today announced that Institutional Shareholder Services, a leading independent proxy advisory firm, has recommended that shareholders of PENN Entertainment cast their votes “FOR” the election of all three independent director candidates nominated by HG Vora.

William Clifford, Johnny Hartnett, and Carlos Ruisanchez – to the Company’s Board of Directors (the “Board”) on the GOLD proxy card at PENN’s 2025 Annual Meeting of Shareholders (the “Annual Meeting”), scheduled for June 17, 2025.

In its report,* ISS concluded that PENN’s performance under current leadership has “been disappointing over all measurement periods”, that the Board’s misguided interactive strategy has “failed to drive the returns expected by shareholders”, and that there is “clearly a case for board change” given there is “little evidence that the board has been able to hold management accountable.”

Previously, leading independent proxy advisory firm Egan-Jones Proxy Services also recommended that PENN shareholders cast their votes “FOR” the election of all three independent director candidates nominated by HG Vora – William Clifford, Johnny Hartnett, and Carlos Ruisanchez – to the Board using the GOLD proxy card at PENN’s 2025 Annual Meeting.