Penn National Gaming Promotes Jay Snowden to Chief Operating Officer

  Penn National Gaming Promotes Jay Snowden to Chief Operating Officer

       Names William Fair Sr. Vice President, Chief Development Officer

Business Wire

WYOMISSING, Pa. -- January 9, 2014

Penn National Gaming, Inc. (PENN: Nasdaq) (“Penn” or the “Company”) announced
today that Jay Snowden, who has served as Senior Vice President, Regional
Operations since October 2011, has been named Senior Vice President, Chief
Operating Officer, effective immediately. The role of Chief Operating Officer
was previously held by Timothy J. Wilmott, who was named Chief Executive
Officer in November 2013 concurrent with the spin-off of Gaming and Leisure
Properties, Inc. (“GLPI”) from the Company. Penn also announced that effective
January 6, William J. (“B. J.”) Fair was appointed Senior Vice President,
Chief Development Officer, a position previously held by Steven Snyder who
assumed the role of Senior Vice President, Corporate Development at GLPI at
the time of the spin-off. Mr. Snowden and Mr. Fair will report directly to Mr.
Wilmott, and both appointments are subject to customary regulatory approvals.

Tim Wilmott commented on the appointments, “We are delighted to announce Jay’s
promotion and the addition of B. J. to our team of proven operations, finance,
marketing, project development and legal executives. Since the spin-off, we
have appointed experienced executives to senior management positions,
including CFO, COO and Chief Development Officer, positioning us to optimize
the results of our growing regional gaming portfolio and deliver excellent
entertainment experiences to our patrons while pursuing opportunities to
further expand the scale and diversity of our operations, and build value for
shareholders.”

As Chief Operating Officer, Mr. Snowden will be responsible for the Company’s
regional gaming operations, marketing, human resources and IT functions. Mr.
Snowden joined Penn National in 2011 following over 12 years at Caesars
Entertainment in several regional and destination markets, including Nevada,
California, Missouri, and New Jersey. Immediately prior to joining Penn
National, he served as Senior Vice President and General Manager of both
Caesars Atlantic City and Harrah’s Resort Atlantic City. Mr. Snowden began his
career with Caesars in 1998 with a financial planning and analysis role prior
to being named Slot Performance Manager at Harrah’s Las Vegas. In 2000, he
assisted in the design and development of Harrah’s Rincon in San Diego before
becoming that property’s Vice President and Assistant General Manager upon
opening. In 2003, he became Vice President and Assistant General Manager of
Harrah’s St. Louis and, soon thereafter, served as acting General Manager. In
2005, he was appointed Senior Vice President and General Manager of Showboat
Atlantic City, where he oversaw construction of a $65 million expansion
project, and was given additional responsibility as Senior Vice President and
General Manager at Harrah’s Resort Atlantic City in 2008.

Mr. Snowden earned a Bachelor of Arts in Government from Harvard University in
Cambridge, Massachusetts and an Executive Masters in Business Administration
from Washington University in St. Louis, Missouri.

B. J. Fair brings 30 years of real estate and resort operation experience to
the role of Senior Vice President, Chief Development Officer including senior
management positions at leading consumer entertainment entities with large
scale development projects including American Skiing Company, Universal
Studios and Disney Development Company. At Penn National, Mr. Fair will be
responsible for corporate growth and development initiatives as well as
project development including design and construction.

Mr. Fair previously served as President and Chief Executive Officer of
American Skiing Company where he had oversight of ten ski mountain resorts
(Steamboat, The Canyons, Heavenly, Killington, Pico, Mount Snow, Sunday River,
Sugarloaf, Sugarbush and Attitash) which included ski operations, nine hotels,
condominium operations, food and beverage operations, retail and rental
operations, real estate brokerage and development. Mr. Fair orchestrated the
financial turn-around of the company which culminated in the successful sale
of all of the resorts. Prior to American Skiing, Mr. Fair was President and
Director of Universal Studios Port Aventura in Tarragona, Spain. In this role
Mr. Fair was responsible for establishing the strategic direction, business
planning and master planning to grow the regional theme park and surrounding
2,000 acres into an international resort destination, including the planning
and development of two 500 room on-property resort hotels. Mr. Fair joined
Universal in 1996 as Senior Vice President, Business Planning in the Universal
Creative Division which was responsible for the design and construction of the
Universal Studios theme parks where he led the design and preconstruction team
on the Universal Studios Osaka project. From 1992 to 1996 Mr. Fair was with
the Disney Development Company as the Director of Finance and Business
Planning focusing on the development and economic feasibility of the $1.4
billion Disneyland Resort Project. Mr. Fair began his career in master planned
community development holding senior positions in the development of the
Monarch Beach community in Southern California. Mr. Fair has previously served
on the Board of Directors of numerous companies including American Skiing and
Squaw Valley Ski Corp.

Mr. Fair earned a Bachelor of Arts with a double major in Economics and
Political Science from Claremont Mens College (now Claremont McKenna College)
in Claremont, California and a Masters in Business Administration from The
Wharton School, University of Pennsylvania.

About Penn National Gaming

Penn National Gaming, through its subsidiaries, owns, operates or has
ownership interests in gaming and racing facilities with a focus on slot
machine entertainment. The Company presently operates twenty-six facilities in
seventeen jurisdictions, including Florida, Illinois, Indiana, Iowa, Kansas,
Maine, Maryland, Mississippi, Missouri, Nevada, New Jersey, New Mexico, Ohio,
Pennsylvania, Texas, West Virginia, and Ontario. In aggregate, Penn's operated
facilities feature approximately 31,000 gaming machines, 800 table games and
2,900 hotel rooms.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of
Section 27A of the Securities Act and Section 21E of the Securities Exchange
Act of 1934, as amended. These statements can be identified by the use of
forward looking terminology such as “expects,” “believes,” “estimates,”
“expects,” “intends,” “may,” “will,” “should” or “anticipates” or the negative
or other variation of these or similar words, or by discussions of future
events, strategies or risks and uncertainties. Such forward looking statements
are inherently subject to risks, uncertainties and assumptions about Penn and
its subsidiaries, and accordingly, any forward looking statements are
qualified in their entirety by reference to the factors described in Penn’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 Securities and Exchange Commission (the “SEC”). All subsequent written and
oral forward looking statements attributable to Penn or persons acting on
Penn’s behalf are expressly qualified in their entirety by the cautionary
statements included in this press release. Penn undertakes no obligation to
publicly update or revise any forward looking statements contained or
incorporated by reference herein, whether as a result of new information,
future events or otherwise, except as required by law. In light of these
risks, uncertainties and assumptions, the forward looking events discussed in
this press release may not occur.

Contact:

Penn National Gaming, Inc.
Saul V. Reibstein, 610-373-2400
Chief Financial Officer
or
Eric Schippers, 610-373-2400
Sr. Vice President, Public Affairs
or
JCIR
Joseph N. Jaffoni, Richard Land
212-835-8500
penn@jcir.com