PENN Entertainment Announces Interactive Leadership Transition Scheduled for April 2024

PENN Entertainment, Inc. (“PENN” or the “Company”) (NASDAQ: PENN) announced today that the founding family behind theScore -- John Levy, Benjie Levy, Aubrey Levy and Noah Levy – will be stepping down from their roles at PENN Interactive, with John departing in mid-February and with Benjie, Aubrey and Noah departing in April 2024. In conjunction with this planned leadership transition, the Company is in the final stages of its search for a new Head of Interactive.

“This transition plan comes at a natural inflection point, with the migration to our proprietary technology platform complete, theScore's media and betting business delivering record results, and ESPN BET off to a strong start,” said Jay Snowden, CEO and President of PENN Entertainment. “The Levys are a family of successful entrepreneurs and are truly pioneers in the sports media and gaming industry. I am very proud of what we’ve been able to accomplish with them, including the development of an extremely deep and talented bench at PENN Interactive. With this experienced, best-in-class team firmly in place, we are well prepared for this to be a seamless transition and to continue growing our position as a leader in online gaming and sports media,” said Mr. Snowden.

Benjie Levy, Head of PENN Interactive and President and Chief Operating Officer of theScore, commented, "Working at PENN has been extremely rewarding and we want to thank Jay, Todd George and the entire PENN team for their partnership and support as we brought these two organizations together to execute on our uniquely integrated media and betting strategy. Our focus on creating industry leading technology and products has been second only to our efforts in building a world class team and fostering a special place to work. We could not be more proud of this team and what we have accomplished together, and we look forward to watching as they continue to build upon the successful foundation we established at theScore.”

PENN acquired Score Media and Gaming Inc. (“theScore”) in October 2021 and integrated theScore with its PENN Interactive unit under the leadership of Benjie Levy as Head of Interactive with John Levy assuming the role of Executive Chairman of theScore. The integrated interactive team further established PENN as an online gaming leader across North America, including launching and sustaining a leading position in Ontario with theScore Bet, completing the successful migration onto a proprietary, cutting-edge technology stack, and most recently executing the highly anticipated and successful launch of ESPN BET.