HG Vora Amends Stake in PENN Entertainment

Ticker: PENN · Form: SC 13D/A · Filed: 2024-09-03T00:00:00.000Z

Sentiment: neutral

Topics: schedule-13d, amendment, ownership-change

Related Tickers: PENN

TL;DR

HG Vora just updated their PENN stake filing - something's cooking.

AI Summary

HG Vora Capital Management, LLC, through its representative Christopher M. McLean, filed an amendment (Amendment No. 2) to its Schedule 13D on September 3, 2024, regarding its holdings in PENN Entertainment, Inc. The filing indicates a change in the beneficial ownership of the company's common stock.

Why It Matters

This amendment signals a potential shift in the investment strategy or ownership structure of PENN Entertainment, which could influence the company's stock performance and strategic direction.

Risk Assessment

Risk Level: medium — Amendments to Schedule 13D filings often indicate significant changes in a major shareholder's intentions, which can lead to increased volatility.

Key Players & Entities

FAQ

What specific changes are detailed in Amendment No. 2 to the Schedule 13D filing?

The filing is an amendment to a previous Schedule 13D, indicating a change in beneficial ownership, but the specific details of the change are not provided in the header information.

Who is the authorized person to receive communications for HG Vora Capital Management, LLC?

Christopher M. McLean is the person authorized to receive communications, with an address at 330 Madison Avenue, 21st Floor, New York, NY 10017.

What is the CUSIP number for PENN Entertainment, Inc. common stock?

The CUSIP number for PENN Entertainment, Inc. common stock is 707569109.

When was this amendment filed with the SEC?

This amendment was filed on September 3, 2024.

What is the former name of PENN Entertainment, Inc. and when did the name change occur?

The former name was PENN NATIONAL GAMING INC, and the date of the name change was April 15, 1994.

From the Filing

0001214659-24-015906.txt : 20240903 0001214659-24-015906.hdr.sgml : 20240903 20240903185520 ACCESSION NUMBER: 0001214659-24-015906 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240903 DATE AS OF CHANGE: 20240903 GROUP MEMBERS: PARAG VORA SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PENN Entertainment, Inc. CENTRAL INDEX KEY: 0000921738 STANDARD INDUSTRIAL CLASSIFICATION: HOTELS & MOTELS [7011] ORGANIZATION NAME: 05 Real Estate & Construction IRS NUMBER: 232234473 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-45655 FILM NUMBER: 241275490 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 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: HG Vora Capital Management, LLC CENTRAL INDEX KEY: 0001525362 ORGANIZATION NAME: IRS NUMBER: 264369896 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 330 MADISON AVENUE STREET 2: 21ST FLOOR CITY: NEW YORK STATE: NY ZIP: 10017 BUSINESS PHONE: (212) 707-4300 MAIL ADDRESS: STREET 1: 330 MADISON AVENUE STREET 2: 21ST FLOOR CITY: NEW YORK STATE: NY ZIP: 10017 SC 13D/A 1 z93241sc13da2.htm AMENDMENT NO. 2 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 2)* PENN Entertainment, Inc. (Name of Issuer) Common Stock, par value $0.01 per share (Title of Class of Securities) 707569109 (CUSIP Number) Christopher M. McLean HG Vora Capital Management, LLC 330 Madison Avenue, 21st Floor New York, NY 10017 (212) 707-4300 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) Copy to: Jeffrey Katz Ropes & Gray LLP Prudential Tower 800 Boylston Street Boston, MA 02199 (617) 951-7072 August 30, 2024 (Date of Event Which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. ¨ Note : Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent. *The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934 (the “Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP NO.: 707569109 (1) NAME OF REPORTING PERSON: HG Vora Capital Management, LLC (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) o (b) o (3) SEC USE ONLY (4) SOURCE OF FUNDS: AF (See Item 3) (5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) o (6) CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: (7) SOLE VOTING POWER: 0 (8) SHARED VOTING POWER: 14,500,000 (9) SOLE DISPOSITIVE POWER: 0 (10) SHARED DISPOSITIVE POWER: 14,500,000 (11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 14,500,000 (12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN S

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