<SEC-DOCUMENT>0001140361-23-045272.txt : 20230926
<SEC-HEADER>0001140361-23-045272.hdr.sgml : 20230926
<ACCEPTANCE-DATETIME>20230926171503
ACCESSION NUMBER:		0001140361-23-045272
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20230922
FILED AS OF DATE:		20230926
DATE AS OF CHANGE:		20230926

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Rogers Christopher Byron
		CENTRAL INDEX KEY:			0001901955

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-24206
		FILM NUMBER:		231281215

	MAIL ADDRESS:	
		STREET 1:		825 BERKSHIRE BLVD.
		CITY:			WYOMISSING
		STATE:			PA
		ZIP:			19610

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PENN Entertainment, Inc.
		CENTRAL INDEX KEY:			0000921738
		STANDARD INDUSTRIAL CLASSIFICATION:	HOTELS & MOTELS [7011]
		IRS NUMBER:				232234473
		STATE OF INCORPORATION:			PA
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		825 BERKSHIRE BLVD STE 200
		STREET 2:		WYOMISSING PROFESSIONAL CENTER
		CITY:			WYOMISSING
		STATE:			PA
		ZIP:			19610
		BUSINESS PHONE:		6103732400

	MAIL ADDRESS:	
		STREET 1:		825 BERKSHIRE BLVD
		STREET 2:		SUITE 200
		CITY:			WYOMISSING
		STATE:			PA
		ZIP:			19610

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PENN NATIONAL GAMING INC
		DATE OF NAME CHANGE:	19940415
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2023-09-22</periodOfReport>

    <issuer>
        <issuerCik>0000921738</issuerCik>
        <issuerName>PENN Entertainment, Inc.</issuerName>
        <issuerTradingSymbol>PENN</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001901955</rptOwnerCik>
            <rptOwnerName>Rogers Christopher Byron</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>825 BERKSHIRE BLVD.</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 200</rptOwnerStreet2>
            <rptOwnerCity>WYOMISSING</rptOwnerCity>
            <rptOwnerState>PA</rptOwnerState>
            <rptOwnerZipCode>19610</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isOfficer>true</isOfficer>
            <officerTitle>EVP and Chief Strategy Officer</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>false</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2023-09-22</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>5707</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>33864</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2023-09-22</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>D</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>5707</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>22.95</value>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>28157</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Phantom Stock Units</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F1"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2023-09-22</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>5707</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F1"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>CommonStock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>5707</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Each phantom stock unit is the economic equivalent of one share of the registrant's common stock. The phantom stock units vested in three installments as follows: 3,568 phantom stock units vested on September 22, 2021, 4,994 phantom stock units vested on September 22, 2022 and 5,707 phantom stock units vested on September 22, 2023. Vesting of phantom stock units is reported as a deemed acquisition and disposition (at fair market value as of the vesting date) of the number of shares of common stock underlying the vested phantom stock units.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Joshua Sidsworth, Attorney-In-Fact for Christopher Byron Rogers</signatureName>
        <signatureDate>2023-09-26</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-24.1
<SEQUENCE>2
<FILENAME>ef20011244_ex24-1.htm
<DESCRIPTION>EXHIBIT 24.1
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Summit, a Broadridge Company
         Document created using Broadridge PROfile 23.9.1.5178
         Copyright 1995 - 2023 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000;">
  <hr noshade="noshade" align="center" style="height: 4px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">
  <div style="text-align: right; font-weight: bold;">Exhibit 24.1</div>
  <div>&#160;</div>
  <div style="text-align: center; margin-right: 175.55pt; margin-left: 175.5pt;">POWER OF ATTORNEY</div>
  <div><br>
  </div>
  <div style="text-align: justify; text-indent: 36pt; margin-right: 5.8pt; margin-left: 5.95pt;">Know all by these presents, that the undersigned hereby constitutes and appoints each of Jay A. Snowden, Felicia Hendrix, and Joshua Sidsworth, signing singly,
    the undersigned&#8217;s true and lawful attorney-in-fact to:</div>
  <div><br>
  </div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 6pt;">(1)&#160;&#160;&#160;&#160; &#160;&#160; prepare, execute in the undersigned's name and on the undersigned's behalf, and submit to the U.S. Securities and Exchange Commission (the &#8220;SEC&#8221;) a Form ID, including
    amendments thereto, and any other documents necessary or appropriate to obtain codes and passwords enabling the undersigned to make electronic filings with the SEC of reports required by the Securities Exchange Act of 1934 (including, but not limited
    to, Section 16(a) and the rules thereunder), the Securities Act of 1933 (including, but not limited to, Rule 144 thereunder) or any rule or regulation of the SEC&#894;</div>
  <div><br>
  </div>
  <div style="text-align: justify; text-indent: 36pt; margin-right: 5.7pt; margin-left: 6pt;">(2)&#160;&#160;&#160; &#160; &#160; execute for and on behalf of the undersigned, in the undersigned&#8217;s capacity as an officer and/or director of PENN Entertainment, Inc., a Pennsylvania
    corporation (the &#8220;Company&#8221;), Forms 3, 4, and 5 in accordance with Section 16(a) of the Securities Exchange Act of 1934 and the rules thereunder, Form 144 in accordance with Rule 144 of the Securities Act of 1933 and any other forms or reports
    (including amendments thereto) the undersigned may be required to file in connection with the undersigned&#8217;s ownership, acquisition, or disposition of securities of the Company&#894;</div>
  <div><br>
  </div>
  <div style="text-align: justify; text-indent: 36pt; margin-right: 5.8pt; margin-left: 6pt;">(3)&#160;&#160;&#160; &#160; &#160; do and perform any and all acts for and on behalf of the undersigned which may be necessary or desirable to complete and execute any such Form 3, 4, or
    5, Form 144 or other form or report (including amendments thereto), and timely file such form, schedule or report with the SEC and any stock exchange or similar authority&#894; and</div>
  <div><br>
  </div>
  <div style="text-align: justify; text-indent: 36pt; margin-left: 5.95pt;">(4)&#160;&#160;&#160;&#160; &#160;&#160; take any other action of any type whatsoever in connection with the foregoing which, in the opinion of such attorney-in-fact, may be of benefit to, in the best interest
    of, or legally required by, the undersigned, it being understood that the documents executed by such attorney- in-fact on behalf of the undersigned pursuant to this Power of Attorney shall be in such form and shall contain such terms and conditions as
    such attorney-in-fact may approve in such attorney-in- fact&#8217;s discretion.</div>
  <div><br>
  </div>
  <div style="text-align: justify; text-indent: 36pt; margin-right: 5.7pt; margin-left: 5.95pt;">The undersigned hereby grants to each such attorney-in-fact full power and authority to do and perform any and every act and thing whatsoever requisite,
    necessary, or proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present, with full power of substitution or revocation, hereby
    ratifying and confirming all that such attorney-in-fact, or such attorney-in-fact's substitute or substitutes, shall lawfully do or cause to be done by virtue of this Power of Attorney and the rights and powers herein granted. The undersigned
    acknowledges that the foregoing attorneys-in-fact, in serving in such capacity at the request of the undersigned, are not assuming, nor is the Company assuming, any of the undersigned&#8217;s responsibilities to comply with Section 16 of the Securities
    Exchange Act of 1934 and rules thereunder, Rule 144 of the Securities Act of 1933.</div>
  <div><br>
  </div>
  <div style="text-align: justify; text-indent: 36pt; margin-right: 5.85pt; margin-left: 6pt;">This Power of Attorney shall remain in full force and effect until the undersigned is no longer required to file Forms 3, 4, and 5, and Form 144 (including
    amendments thereto) with respect to the undersigned&#8217;s holdings of and transactions in securities issued by the Company, unless earlier revoked by the undersigned in a signed writing delivered to the foregoing attorneys- in-fact. This Power of Attorney
    revokes all previous powers of attorney with respect to the subject matter of this Power of Attorney.</div>
  <div><br>
  </div>
  <div style="margin-left: 42pt;">IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to be executed as of August 31, 2023.</div>
  <div><br>
  </div>
  <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="z39036a4dac8e42378702a4845309b86a">

      <tr>
        <td style="width: 49.81%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
        <td style="width: 30%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
          <div>/s/ Christopher Rogers</div>
        </td>
        <td style="width: 20%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
      </tr>
      <tr>
        <td style="width: 49.81%; vertical-align: top;">&#160;</td>
        <td colspan="2" style="vertical-align: top;">
          <div>Christopher Rogers</div>
        </td>
      </tr>

  </table>
  <div>&#160;</div>
  <div><br>
  </div>
  <div>
    <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
</body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
