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Penn National Gaming Names Scott Saunders General Manager of Argosy Casino Alton

  Penn National Gaming Names Scott Saunders General Manager of Argosy Casino
  Alton

Saunders, Most Recently Assistant GM for Hollywood Casino Columbus, Brings 20
    Years of Regional and Locals Market Management Experience to New Role

Business Wire

WYOMISSING, Penn. & ALTON, Ill. -- December 17, 2012

Penn National Gaming, Inc. (Nasdaq: PENN) announced today that subject to
customary regulatory approvals, Scott Saunders, 46, has been named General
Manager of Argosy Casino Alton in Alton, IL, effective January 7, 2013. Mr.
Saunders most recently served as Assistant General Manager of the Company’s
Hollywood Casino Columbus which he joined in January 2012 and helped to
oversee the final development of the property and its successful opening in
October. Penn National intends to appoint a replacement for Saunders in
Columbus shortly.

Mr. Saunders joined Penn National in May 2010 as Director of Finance for
Hollywood Casino Perryville as part of the opening team for the property. In
July 2011 he was appointed Assistant General Manager for Hollywood Casino
Lawrenceburg where he served until being named Assistant General Manager for
Hollywood Casino Columbus. Prior to joining Penn National, Mr. Saunders held
several senior management positions at regional gaming companies. He was
Senior Director of Casino Operations, Corporate for Isle of Capri Casinos,
Inc. where his responsibilities included managing the rollout of a player
bonusing system and directing gaming analysis functions. From 2003-2006, Mr.
Saunders served in management roles at Station Casinos in Las Vegas, including
General Manager of Wildfire Casino, Corporate Director of Operations Analysis
and Director of Slots for the Fiesta Rancho, Santa Fe Station and Texas
Station properties. From 1995-2002 he held management positions at Harrah’s
Casino and Hotel/Bluffs Run Casino in Council Bluffs, IA including Planning
and Analysis Manager, Operations Analyst, Slot Shift Manager and Slot
Supervisor. Mr. Saunders began his career in the gaming industry at President
Casino in Biloxi, MS in 1992.

John Finamore, Senior Vice President Regional Operations of Penn National
Gaming, commented, “In the two and a half years Scott has been with Penn
National he has made invaluable contributions towards the successful opening
and/or operations of three of our properties. His wealth of expertise and
experience in operating regional gaming and locals focused gaming operations
in competitive markets make him ideally suited to lead Argosy Casino Alton. We
expect that under his leadership Argosy Casino Alton will further its focus on
offering excellent guest experiences that will help to drive improvements in
the property’s operating performance.”

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.

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” 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: our ability to
receive, or delays in obtaining, the regulatory approvals required to own,
develop and/or operate our facilities; 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 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
610-373-2400
Chief Financial Officer
or
JCIR
Joseph N. Jaffoni, Richard Land
212-835-8500
penn@jcir.com