Execs depart posts at Penn National Gaming for spun-off company
The CEO of Berks County-based Penn National Gaming Inc. is among executives who went to work for Gaming and Leisure Properties Inc., which was recently spun off from Penn National, according to a regulatory filing.
Former CEO Peter M. Carlino remains chairman of Penn National’s board of directors, the filing with the Securities and Exchange Commission stated. Timothy J. Wilmott has been appointed CEO and remains president.
Penn National reported this month it had completed the tax-free spin-off of Gaming and Leisure Properties, which said it expects to be the first gaming-focused real estate investment trust, as owner of real estate associated with 21 casino facilities.
Also leaving to work for the spun-off company were William J. Clifford, formerly Penn National’s senior vice president and chief financial officer, and Steven T. Snyder, formerly senior vice president of corporate development, according to the regulatory filing.
Additionally, Wesley R. Edens resigned from Penn National’s board of directors.
The company said in the filing it had temporarily appointed Desiree A. Burke, vice president and chief accounting officer, to be Penn National’s principal financial officer until it finishes a search for a permanent chief financial officer.
Penn National operations include Hollywood Casino at Penn National Race Course in Dauphin County.