US casino and racecourse group Penn National Gaming has expanded its board of directors with the addition of CEO Timothy Wilmott, subject to customary regulatory approvals.
Effective immediately, Wilmott’s appointment will expand the size of the board to seven members, five of whom satisfy the standards for director independence under the current Listing Rules of the NASDAQ Stock Market.
Wilmott joined Penn National in February 2008 as president and chief operating officer and was named CEO in November of last year. He had previous served at Harrah’s Entertainment (now Caesars Entertainment Corporation) since 1987 and was chief operating officer for approximately four years.
In this position, he oversaw the operations of all of Harrah's revenue-generating businesses, including 48 casinos, 38,000 hotel rooms and 300 restaurants.
Peter Carlino, chairman of Penn National said: “Since joining the company in 2008, Tim has been steadfast in diversifying our operations in a return focused manner while fostering our employees’ commitment to deliver quality guest services across the property portfolio.
“In addition, in the eleven months since we separated the company’s real estate assets from our operating assets, Tim has built formidable corporate and operating management teams that have consistently delivered strong margins from existing operations, successfully opened new facilities and developed exciting expansion opportunities in new markets, including Ohio, Massachusetts and California.”