Penn Entertainment’s shareholders have finally rallied and decided to slash the remuneration package of CEO Jay Snowden this year, with the cap now set at a maximum of $17.4 million from previously $25.3 million.
Penn Entertainment’s Boss Payment Now Restricted to $17.4M
As the brand continues to recalibrate and readjust, shareholders have voted in droves to support the payment reduction measure, with 77.5% approving the changes to the package, up from less than 33% who did in 2025.
The company tried to acknowledge frustrations with current performance indicators, but also noted that Snowden was not paying himself disproportionate sums. For example, between 2021 and 2025, the executive has taken only 42% of the pay he was eligible for, amounting to $12.5 million, rather than pursuing the full amount.
However, Penn is aware of the dissatisfaction with the company director, Maria Kaplowitz, hosting a meeting with 17 investors accounting for 48% of the company’s stock, engaging in discussions around pay packages.
Casino Is Penn’s New Focus as Company Posts Solid Results in iGaming
Much of Penn’s sports betting hopes have been, if not completely dashed, then turned into an almost anecdotal evidence of how not to run your sports betting brand, with Penn dropping ESPN Bet in December, and previously selling back the Barstool Sports brand back to its owner, David Portnoy, for just $1 after paying a multi-million premium to own it in the first place.
However, Penn has also had a bit of good luck, with the company shifting to online casino and even reporting strong gains in iGaming jurisdictions where it operates, with revenue jumping 362% from last year, as per Penn’s Q1 earnings call.
