Penn National Gaming Names Greg Hinton General Manager of Hollywood Casino Tunica

  Penn National Gaming Names Greg Hinton General Manager of Hollywood Casino
  Tunica

   - Hinton, Most Recently Assistant GM for Caesars Entertainment’s Tunica
  Properties, Brings Extensive Gaming and Financial Experience to New Role -

Business Wire

WYOMISSING, Pa. & TUNICA, Miss. -- October 26, 2012

Penn National Gaming, Inc. (Nasdaq: PENN) announced today that subject to
customary regulatory approvals, Greg Hinton, 53, has been named General
Manager of Hollywood Casino Tunica. Mr. Hinton most recently served as
Assistant General Manager of Caesars Entertainment’s three properties in
Tunica, Mississippi. He replaces Tony Carlucci, who was recently named General
Manager of Harrah’s St. Louis, subject to completion of the acquisition of the
property by Penn National which is expected in early November 2012, after
which it will be re-branded Hollywood Casino St. Louis.

Mr. Hinton joined Caesars in 2006 as Regional Director for Planning and
Analysis in Atlantic City before being named as Vice President of Finance for
Harrah’s St. Louis in September 2007. He added the responsibilities of Vice
President of Non-Gaming Operations in March 2008 and held both roles until
January 2010 when he was named Assistant General Manager of Harrah’s Tunica.
In December 2011, Mr. Hinton was named Assistant General Manager for Caesars
Entertainment’s three Tunica-based properties. Before joining Caesars
Entertainment, he was a Partner at Accenture from 1998 to 2006, with a
specialization in finance and performance management. Mr. Hinton also served
as Senior Manager at Ernst & Young and in several roles of increasing
prominence at PricewaterhouseCoopers for 14 years. A Certified Public
Accountant, he holds a Masters of Business Administration from Northwestern
University in Chicago, IL and a Bachelor of Science in Business Administration
from the California State Polytechnic University in Pomona, CA.

Thomas P. Burke, Senior Vice President Regional Operations of Penn National
Gaming, commented, “Greg’s background and intimate knowledge of the Tunica
gaming market make him ideally suited to take on his new role as General
Manager of Hollywood Casino Tunica. Over the course of his career, Greg has
developed a strong background in accounting and finance and, more recently,
assumed increasing responsibility in both the financial and operational areas
of property management. We expect his existing relationships in Tunica,
including his involvement with the local Boy Scouts of America and the
Make-A-Wish Foundation of the Mid-South, to serve him well as he seeks to
build on Tony’s excellent work and further position Hollywood Casino Tunica as
a key destination in the marketplace and key contributor to the local
community.”

About Penn National Gaming

Penn National Gaming owns, operates or has ownership interests in gaming and
racing facilities with a focus on slot machine entertainment. The company
presently operates twenty-eight facilities in nineteen jurisdictions,
including Colorado, Florida, Illinois, Indiana, Iowa, Kansas, Louisiana,
Maine, Maryland, Mississippi, Missouri, Nevada, New Jersey, New Mexico, Ohio,
Pennsylvania, Texas, West Virginia, and Ontario. In aggregate, Penn National's
operated facilities currently feature approximately 34,700 gaming machines,
approximately 800 table games, 2,400 hotel rooms and approximately 1.5 million
square feet of gaming floor space. Penn National has agreed to acquire
Harrah’s St. Louis gaming and lodging facility from Caesars Entertainment with
the transaction expected to close in the fourth quarter of 2012.

Forward-looking Statements

This press release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. Actual results may vary
materially from expectations. Although Penn National Gaming, Inc. and its
subsidiaries (collectively, the “Company”) believe that our expectations are
based on reasonable assumptions within the bounds of our knowledge of our
business and operations, there can be no assurance that actual results will
not differ materially from our expectations. Meaningful factors that could
cause actual results to differ from expectations include, but are not limited
to, risks related to the following: our ability to receive and maintain, or
delays in obtaining, the regulatory approvals required to own, develop and/or
operate our facilities, or other delays or impediments to completing our
planned acquisitions or projects, including favorable resolution of any
related litigation, including the recent appeal by the Ohio Roundtable
addressing the legality of video lottery terminals in Ohio and the lawsuit to
protect our interests in Iowa; our ability to secure state and local permits
and approvals necessary for construction; construction factors, including
delays, unexpected remediation costs, local opposition and increased cost of
labor and materials; our ability to receive timely regulatory approval for and
to otherwise complete our planned acquisition of Harrah’s St. Louis (failure
to do so could, among other things, result in the loss of certain deposits);
our ability to successfully integrate Harrah’s St. Louis into our existing
business; our ability to reach agreements with the thoroughbred and harness
horseman in Ohio and to otherwise maintain agreements with our horseman,
pari-mutuel clerks and other organized labor groups; the passage of state,
federal or local legislation (including referenda) that would expand,
restrict, further tax, prevent or negatively impact operations in or adjacent
to the jurisdictions in which we do or seek to do business (such as the
expansion of gaming under consideration in Maryland and Illinois or a smoking
ban at any of our facilities); the effects of local and national economic,
credit, capital market, housing, and energy conditions on the economy in
general and on the gaming and lodging industries in particular; the activities
of our competitors and the emergence of new competitors (traditional and
internet based); increases in the effective rate of taxation at any of our
properties or at the corporate level; our ability to identify attractive
acquisition and development opportunities and to agree to terms with partners
for such transactions; the costs and risks involved in the pursuit of such
opportunities and our ability to complete the acquisition or development of,
and achieve the expected returns from, such opportunities; our expectations
for the continued availability and cost of capital; the outcome of pending
legal proceedings; changes in accounting standards; our dependence on key
personnel; the impact of terrorism and other international hostilities; the
impact of weather; and other factors as discussed in the Company’s Annual
Report on Form 10-K for the year ended December 31, 2011, subsequent Quarterly
Reports on Form 10-Q and Current Reports on Form 8-K as filed with the SEC.
The Company does not intend to update publicly any forward-looking statements
except as required by law.

Contact:

Penn National Gaming, Inc.
William J. Clifford
Chief Financial Officer
610/373-2400
or
Joseph N. Jaffoni, Richard Land
JCIR
212/835-8500 or penn@jcir.com