In a press release issued by the company on Thursday, Penn National Gaming announced that David Williams has been named as the new Chief Financial Officer (CFO). The move will become effective on March 3.
In the statement, it was explained that “In his new role at Penn National, Mr. Williams will be responsible for all of the Company’s financial and treasury functions, as well as helping to develop and support the Company’s strategic growth initiatives, including its burgeoning iGaming and sports betting businesses.”
Williams comes with an impressive track record. He has served as the CFO and Controller at Apple Incorporated’s Claris Division since 2012. Claris is the B2B software subsidiary at Apple, which helps in developing custom apps for use in the business world.
In a statement provided by Williams, he commented, “I am very impressed by Penn National’s strategic vision and look forward to taking part in the company’s ongoing growth story, which focuses heavily on my expertise in the interactive space. I look forward to working with Jay, the corporate and property management teams and the Board of Directors to achieve our strategic and financial goals.”
While the move was announced, it is not completed yet. He must still meet the regulatory approval required in several states, which includes Nevada.
This move is part of a major overhaul at Penn National. CEO Tim Wilmott retired in 2019 and there have been additional changes in the executive structure. One of those moves was the resignation of William “B.J.” Fair, who stepped down as CFO in September and is the person that Williams is replacing.
In the statement, Snowden thanked the former CFO for his exceptional service to Penn National. “Finally, I want to express my sincere gratitude to B.J. for his many contributions to Penn National’s success over the last five years and for helping to ensure that this CFO transition will be managed seamlessly and efficiently. On behalf of the Board of Directors and everyone at Penn National, we wish B.J. the very best in all of his future endeavors.”
Williams will answer directly to CEO Jay Snowden.
Penn National Gaming owns and operates gaming and racing facilities as well as gaming terminal operations across the globe. They operate 41 facilities in 19 different jurisdictions. They operate over 50,000 gaming machines, 1,300 table games, and nearly 8,800 hotel rooms. They also operate online gaming platforms.
