Penn National Gaming (Penn) Continues To Grow
As Penn National Gaming (PENN: 29.91 +3.03%) continues to seek growth opportunities, the company has announced that Alex J. Stolyar has been named Vice President of Corporate Development.
Effective immediately Stolyar will assume his new role created to assist and coordinate with the Finance team in the identification and analysis of potential business opportunities available to Penn National including strategic acquisitions, partnerships and new jurisdictions under the direction of Steven T. Snyder Senior VP of Corporate Development.
Stolyar comes from Pinnacle Entertainment, where he held various finance and management roles surrounding potential growth strategies.
Commenting on the appointment, Steven T. Snyder said, “With a strong growth pipeline of new projects already under development, Penn National remains intent on further deploying our strong balance sheet and property development skills on return-focused growth projects as we seek to create new value for shareholders. As such, Alex’s strong track record of success in evaluating new regional gaming opportunities will add to our existing corporate development capabilities and expertise as we continue to identify and evaluate opportunities to expand into new jurisdictions.”
Alex Stolyar commented on his appointment, “Penn National has proven over many years that it can identify and develop growth projects in new markets that generate solid returns and create new shareholder value. The Company’s strong liquidity and capital structure position it very favorably in the industry to further extend this success by pursuing new developments that can add to its already deep pipeline of growth projects in various regional gaming markets. I look forward to working with Steve and the entire Penn National team to continue the Company’s record of success in the development of high return casino projects.”
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