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Penn National seeks new financial chief as Fair confirms exit


US casino and racetrack operator Penn National Gaming has confirmed William Fair will step down as its chief financial officer on March 31, 2020.

Fair has been with Penn National since 2014, first acting as senior vice president and chief development officer, before moving on to his current role in 2017.

Fair will remain with the operator until the end of the first quarter of 2020 to allow Penn National the time to conduct a formal search for his successor and ensure a seamless transition of his responsibilities.

“I am proud of the significant milestones achieved during my time at Penn National and have thoroughly enjoyed being part of the best team in the gaming industry,” Fair said. “This was a very difficult decision, but the timing was right in terms of my expiring contract, and it enables me to focus on some recent personal family issues.

“I look forward to working with my successor to facilitate a smooth handover and remain confident in Penn National’s continued success.”

Penn National chief executive Timothy Wilmott paid tribute to the impact that Fair has had on the operator, saying he has made many contributions during what he described as a transformational period for the business.

Wilmott said: “Over the last five years, he has played a significant role in overseeing and structuring the financing strategies for our major growth initiatives, which include our recently completed acquisition of Pinnacle Entertainment, the ongoing development of our two new Pennsylvania properties, and the launch of our sports betting and iGaming platforms.

“In addition, during his tenure, he oversaw the construction of Plainridge Park Casino and helped lead our efforts to acquire Tropicana Las Vegas, Margaritaville Resort, and most recently Greektown Casino.

“On behalf of the board of directors and everyone at Penn National, we wish him the very best in his future endeavors and thank him for ensuring that his transition will be managed seamlessly and efficiently.”

Penn National continues to seek growth in the US, having last month entered into market access agreements with DraftKings, PointsBet, theScore and The Stars Group, as well as a sports betting technology deal with Kambi.Penn Interactive Ventures (PIV) a wholly owned subsidiary of the operator, will manage the relationships, as well as operate its primary sports betting operations through the new agreement with Kambi.