Penn National Gaming promotes William Fair to CFO

Fair has served as the company’s executive vice president and chief development officer since 2014 and will assume his new role on January 1st, 2017.

The appointment is in response to the planned retirement of Reibstein, who has served as CFO for the past three years and will remain with the company until mid-2017 to ensure a smooth transition.

“BJ [Fair] brings a solid record of corporate growth, strategic development and financial experience to his new role, and he’ll be working alongside a deep and experienced team of operations, marketing, project development and legal professionals to help him execute on our strategic growth initiatives and our near-term priorities to de-lever and strengthen our balance sheet,” Penn National Gaming chief executive Timothy Wilmott commented.

He also thanked Reibstein for his contribution during a transformational period for the company.

“Having previously worked with the company for over 15 years in both an auditing and board capacity, Saul helped Penn National maintain its long-term record of growth and success as we continued the expansion of our regional gaming platform, acquired an asset on the Las Vegas strip and leveraged our core competencies in new areas such as social and online gaming and the VGT market,” Wilmott said.

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

Shares in Penn National Gaming Inc (Co. Data) closed in New York Friday up 1.44 per cent at $13.34 per share.