0000000000-25-004596.txt : 20250925 0000000000-25-004596.hdr.sgml : 20250925 20250501093605 ACCESSION NUMBER: 0000000000-25-004596 CONFORMED SUBMISSION TYPE: UPLOAD PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20250501 FILED FOR: COMPANY DATA: COMPANY CONFORMED NAME: PENN Entertainment, Inc. CENTRAL INDEX KEY: 0000921738 STANDARD INDUSTRIAL CLASSIFICATION: HOTELS & MOTELS [7011] ORGANIZATION NAME: 05 Real Estate & Construction EIN: 232234473 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: UPLOAD SEC FILE NUMBER: 000-24206 BUSINESS ADDRESS: STREET 1: 825 BERKSHIRE BLVD STE 200 STREET 2: WYOMISSING PROFESSIONAL CENTER CITY: WYOMISSING STATE: PA ZIP: 19610 BUSINESS PHONE: 6103732400 MAIL ADDRESS: STREET 1: 825 BERKSHIRE BLVD STREET 2: SUITE 200 CITY: WYOMISSING STATE: PA ZIP: 19610 FORMER COMPANY: FORMER CONFORMED NAME: PENN NATIONAL GAMING INC DATE OF NAME CHANGE: 19940415 PUBLIC REFERENCE ACCESSION NUMBER: 0001140361-25-015822 LETTER 1 filename1.pdf begin 644 filename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end TEXT-EXTRACT 2 filename2.txt May 1, 2025 Jay Snowden Chief Executive Officer and President PENN Entertainment, Inc. 825 Berkshire Blvd., Suite 200 Wyomissing, PA 19610 Re: PENN Entertainment, Inc. DEF 14A filed April 28, 2025 File No. 000-24206 Dear Jay Snowden: We have reviewed your filing and have the following comments. In some of our comments, we may ask you to provide us with information so we may better understand your disclosure. Please respond to these comments by providing the requested information or advise us as soon as possible when you will respond. If you do not believe our comments apply to your facts and circumstances, please tell us why in your response. After reviewing your response to these comments, we may have additional comments. DEF 14A filed April 28, 2025 General 1. We note that your proxy statement was filed under EDGAR tag "DEF 14A," as opposed to EDGAR tag "PREC14A," the latter of which is used for contested solicitations. Please provide a detailed legal analysis supporting your determination that your solicitation does not constitute a contested solicitation. 2. Please revise to disclose who recommended Mr. Hartnett and Mr. Ruisanchez to the Board. See Item 407(c)(2)(vii) of Regulation S-K. May 1, 2025 Page 2 We remind you that the filing persons are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff. Please direct any questions to Blake Grady at 202-551-8573. Sincerely, Division of Corporation Finance Office of Mergers & Acquisitions