Penn National Gaming Names Jane Scaccetti to Board of Directors
April 14 2015 - 7:00AM
Business Wire
Scaccetti Brings Extensive Financial, Tax
and Accounting Expertise and Public Board Experience and will Serve
as Audit Committee Chair
Penn National Gaming, Inc. (PENN: Nasdaq) (“the Company” or
“Penn National”) announced today that the Company’s Board of
Directors has, subject to customary regulatory approvals, appointed
Jane Scaccetti to the Board effective immediately. Ms. Scaccetti’s
appointment will expand the size of the Board to eight members, six
of whom satisfy the standards for director independence under the
current Listing Rules of the NASDAQ Stock Market. In addition, Ms.
Scaccetti has been nominated to serve as Chair of the Board’s Audit
Committee, a role she assumes from John Jacquemin, who will remain
on the Board and the Audit Committee.
Ms. Scaccetti is founding partner and CEO of Philadelphia-based
Drucker & Scaccetti and has been a practicing CPA in the
Commonwealth of Pennsylvania since 1977. At Drucker &
Scaccetti, she and her team of approximately 50 professionals
provide counsel to family-owned and closely-held businesses on a
wide range of complex tax planning and wealth management issues.
Prior to founding the firm in 1990, Ms. Scaccetti served at
Laventhol & Horwath from 1977 to 1990 during which time she
became the first woman to be named tax partner at a Philadelphia’s
international firm in 1987. She has served on the Board of
Directors at The Pep Boys since 2003, where she chairs the
Company’s Audit Committee and serves on the Nominations and
Governance Committee. She also serves on the boards of Mathematica
Policy Research and Temple University Health Systems, where she
served as Chair from 2008-2013. She is a Trustee of Temple
University, a Trustee of Salus University and Board Chair at Temple
University Hospital. Ms. Scaccetti previously served as a Director
and Chair of the Audit Committee at DiGiorgio Corporation from
1994-2006, on the board at Nutrition Management Services Company
from 1992-2009, a director at Keystone Health Plan East from
1998-2008 and on the board of First Penn Bank from 1989-1999. She
is a member of the American Institute of Certified Public
Accountants and the Pennsylvania Institute of Certified Public
Accountants.
Peter M. Carlino, Chairman of Penn National Gaming, commented,
“Jane’s addition to the Board of Directors reflects our ongoing
commitment to the best corporate governance practices through the
careful evaluation and appointment of highly qualified Board
members. She is a proven leader in the accounting sector with a
deep record of tax work which will prove beneficial given the broad
range of jurisdictions where we operate. The Board looks forward to
the benefit of this expertise and Jane’s counsel as we pursue our
near- and long-term plans for growth, business diversification. and
the further enhancement of shareholder value.”
About Penn National Gaming
Penn National Gaming owns, operates or has ownership interests
in gaming and racing facilities with a focus on slot machine
entertainment. At December 31, 2014, the Company operated
twenty-six facilities in seventeen jurisdictions, including
Florida, Illinois, Indiana, Kansas, Maine, Massachusetts, Maryland,
Mississippi, Missouri, Nevada, New Jersey, New Mexico, Ohio,
Pennsylvania, Texas, West Virginia, and Ontario. At December 31,
2014, in aggregate, Penn National Gaming’s operated facilities
featured approximately 31,000 gaming machines, 760 table games and
3,100 hotel rooms.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These statements can be identified by the use of forward
looking terminology such as “expects,” “believes,” “estimates,”
“projects,” “intends,” “plans,” “seeks,” “may,” “will,” “should” or
“anticipates” or the negative or other variations of these or
similar words, or by discussions of future events, strategies or
risks and uncertainties, including future plans, strategies,
performance, developments, acquisitions, capital expenditures, and
operating results. Actual results may vary materially from
expectations. These forward looking statements are inherently
subject to risks, uncertainties and assumptions about Penn National
Gaming and its subsidiaries, including risks related to the
potential construction delays and the ultimate location of other
gaming facilities in the state, and accordingly, any forward
looking statements are qualified in their entirety by reference to
the factors discussed in the Company’s Annual Report on Form 10-K
for the year ended December 31, 2014, as well as any subsequent
Quarterly Reports on Form 10-Q and Current Reports on Form 8-K,
each as filed with the United States Securities and Exchange
Commission. The Company does not intend to update publicly any
forward-looking statements except as required by law. In light of
these risks, uncertainties and assumptions, the forward-looking
events discussed in this press release may not occur.
Penn National Gaming, Inc.Saul V. Reibstein, 610-373-2400Chief
Financial OfficerorJCIRJoseph N. Jaffoni, Richard
Land212-835-8500penn@jcir.com
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