Penn National Gaming in Discussions with Tewksbury, Massachusetts Town Officials to Develop Slot Parlor Budgeted at More Than

  Penn National Gaming in Discussions with Tewksbury, Massachusetts Town
  Officials to Develop Slot Parlor Budgeted at More Than $200 Million

Business Wire

WYOMISSING, Pa. -- July 11, 2013

Penn National Gaming, Inc. (Nasdaq: PENN) and the Town of Tewksbury announced
today they are in discussions regarding a slots-only facility project,
budgeted at more than $200 million, that would be located at 300 Ames Pond
Drive, near the intersection of Interstate 495 and State Route 133. Penn
National’s proposal for the 30-acre site will include its marquee Hollywood
casino brand, multiple dining options, and other amenities.

“We are encouraged by the preliminary discussions we’ve had with town
leadership and hope to quickly come to an agreement on a project that would
bring significant economic benefits to Tewksbury and the entire Merrimack
Valley region in the form of new jobs and revenue,” said Eric Schippers,
Senior Vice President for Public Affairs at Penn National Gaming.

“Penn National Gaming is one of the nation’s largest regional casino operators
and has an established record of building strong community partnerships and
delivering on their commitments,” said Richard Montuori, Tewksbury Town
Manager. “We are excited about their interest in Tewksbury.”

“The economic benefits to Tewksbury from a project of this size and scale
would be substantial,” said Scott Wilson, Chairman of the Tewksbury Board of
Selectmen. “This is an important economic development opportunity that we need
to fully explore.”

Penn National representatives will be presenting to Town Selectmen on Tuesday,
July 16 at 7:00 p.m. Applications for the state’s sole slot license must be
submitted to the Massachusetts Gaming Commission by October 4^th, 2013,
following passage of a referendum in the applicant’s host 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 eighteen jurisdictions,
including 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 34,500 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
favorable resolution of any related litigation that often occurs in new gaming
jurisdictions; our ability to secure state and local permits and approvals
necessary for operation and construction; construction factors, including
delays, unexpected remediation costs, local opposition and increased cost of
labor and materials; our ability to reach a host agreement with Tewksbury or
agreements with surrounding communities; the ultimate location of the various
gaming facilities in Massachusetts and other factors as discussed in the
Company’s Annual Report on Form 10-K for the year ended December 31, 2012,
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:

Keyser Public Strategies
Will Keyser, 617-529-5849
will@keyserpublicstrategies.com
 
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