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HG Vora says Penn destroyed $11bn in shareholder value through sports betting deals

Business

HG Vora estimated that Penn Entertainment had destroyed $11bn in shareholder value since 2021 through its focus on online sports betting, according to the investment firm’s presentation. It cited Penn’s Barstool Sports and theScore acquisitions and its ESPN agreement, and is seeking to place three candidates on Penn’s board.

The dispute puts Penn’s sports betting strategy and proposed board changes before shareholders.

End-of-day close PENN Entertainment (PENN), USD, to 3 July 2025
Story date7 April 20253 July 2025

Latest reported results

PENN Entertainment NASDAQ: PENN

Quarter ended 30 September 2026

Revenue
USD 1.84bn
Operating income
USD 127.3m10-Q filing 0000921738-26-000028

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