Leading gambling operator, PennNational Gaming’s Chief Financial Officer William J. (“BJ”) Fair has confirmed that he would be stepping down as Executive Vice President and Chief Financial Officer (“CFO”) at the conclusion of his current employment contract term, which expires March 31, 2020.
Mr. Fair has been serving the company in his current role since 2017. According to the company’s statement, he would be with Penn National by the end of the first quarter of 2020.
Commenting on Mr. Fair’s decision to step down, Penn National’s Chief Executive Officer, Timothy Wilmott, said:
“We want to express our sincere gratitude to BJ for his many contributions to Penn National’s success during what has been a transformational period for our Company.
Over the last five years, BJ 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.”
“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,” said BJ Fair.
“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,” according to Mr. Fair. “I look forward to working with my successor to facilitate a smooth handover and remain confident in Penn National’s continued success,” he added.
Earlier this year, Penn National Gaming had posted a $466.5 million increase in revenue year-over-year to $1.28 billion for the first quarter of 2019.