Penn National Gaming, Inc. (PENN: Nasdaq) (the “Company” or “Penn National”) announced today that effective February 1, 2014, Carl Sottosanti has been promoted to the position of Senior Vice President and General Counsel. Mr. Sottosanti succeeds Jordan Savitch who served as Senior Vice President and General Counsel since 2002 and is resigning his position to spend more time with his family. Mr. Sottosanti will report directly to Penn National Gaming Chief Executive Officer, Timothy J. Wilmott, and the appointment is subject to customary regulatory approvals.
Mr. Sottosanti brings 25 years of legal and business experience to his new role at Penn National and will oversee all of the Company’s legal and regulatory affairs. Since 2003, Mr. Sottosanti has served as Deputy General Counsel and Vice President of Legal and Business Affairs at Penn National where he had significant responsibility for development opportunities, mergers and acquisitions, commercial transactions, corporate governance matters and labor and employment matters.
Prior to joining Penn National, Mr. Sottosanti served for five years as General Counsel at publicly traded Sanchez Computer Associates, Inc., a leading international provider of banking software that was subsequently acquired. At Sanchez, Mr. Sottosanti had oversight of all legal matters, managed in-house and outside counsel, oversaw Securities and Exchange Commission (“SEC”) and compliance issues, and handled intellectual property matters. He also served from 1994 to 1998 as Assistant General Counsel for Salient 3 Communications, Inc., a diversified, publicly-traded telecommunications holding company. Mr. Sottosanti began his legal career in 1989 serving for five years as an associate with the Philadelphia law firm Schnader Harrison, with a practice concentrated in employment and labor law and commercial litigation.
Penn National Gaming Chairman, Peter M. Carlino, commented, “On behalf of the board of directors and our shareholders, we are grateful for Jordan’s contributions to Penn National’s success over the last twelve years, a period of intense legal activity related to our significant growth, expansion and capital market activity. Jordan is a trusted advisor who provided valuable advice and we wish him the very best in his future. Jordan is leaving us with deep legal bench strength and for the past eleven years Carl has been instrumental in successfully leading the Company’s legal strategies for many key initiatives.”
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