Penn National Gaming to Participate in 2012 J.P. Morgan SMid Cap Conference on Wednesday, November 28

  Penn National Gaming to Participate in 2012 J.P. Morgan SMid Cap Conference
  on Wednesday, November 28

2012 J.P. Morgan SMid Cap Conference

Business Wire

WYOMISSING, Pa. -- November 26, 2012

Penn National Gaming, Inc. (PENN: Nasdaq) announced today that Chief Financial
Officer, Bill Clifford, will participate in an audio webcast in conjunction
with the Company’s participation at the 2012 J.P. Morgan SMid Cap Conference
in New York City. The Company’s group presentation and associated webcast,
which will include discussion of its plan to pursue the separation of its real
estate assets from its operating assets, will be held on Wednesday, November
28, at 11:00 a.m. ET. Management will also meet with institutional investors
at the conference that day.

The webcast will be accessible at www.pngaming.com (“Investors”/“Events”) or
http://jpmorgan.metameetings.com/webcasts/smidcap12/directlink?ticker=PENN and
will be archived for 90 days. Management’s PowerPoint presentation will also
be available at www.pngaming.com (“Investors”/“Presentations”) on Wednesday,
November 28 at 11:00 a.m. ET.

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-nine 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 36,800 gaming machines,
approximately 850 table games, 2,900 hotel rooms and approximately 1.6 million
square feet of gaming floor space.

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” or “PENN”) 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: the proposed
separation of PropCo from PENN, including our ability to receive, or delays in
obtaining, all necessary consents and approvals, the anticipated timing of the
proposed separation, the expected tax treatment of the proposed transaction,
the ability of each of the Company (post-spin) and PropCo to conduct and
expand their respective businesses following the proposed spin-off, and the
diversion of management’s attention from regular business concerns; our
ability to receive, 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; 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 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 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
JCIR
Joseph N. Jaffoni, Richard Land
212-835-8500 or penn@jcir.com
 
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