Press Release Details

WYOMISSING, Penn., Jun 01, 2010 (BUSINESS WIRE) --Penn National Gaming, Inc. (Nasdaq: PENN) announced today that President and Chief Operating Officer, Timothy J. Wilmott, will be delivering the keynote address at the Goldman Sachs Lodging, Gaming, Restaurant & Leisure Conference luncheon on Monday, June 7 at Noon ET (not webcast). In addition, Mario Kontomerkos, Vice President of Finance, will participate in an audio webcast in conjunction with the Company's fireside chat at the conference on Tuesday, June 8 at 3:45 p.m. ET. The conference is taking place at the Goldman Sachs Conference Center in New York.

The June 8 webcast will be accessible at www.pngaming.com ("Financial Info"/"Events & Webcasts") or http://cc.talkpoint.com/gold006/060710a_mg/?entity=12_U7DHCQI. Audio replays will be available on the Company's website immediately following the conference and will be available for 90 days.

About Penn National Gaming

Penn National Gaming owns and operates gaming and racing facilities with a focus on slot machine entertainment. The Company presently operates nineteen facilities in fifteen jurisdictions, including Colorado, Florida, Illinois, Indiana, Iowa, Louisiana, Maine, Mississippi, Missouri, New Jersey, New Mexico, Ohio, Pennsylvania, West Virginia, and Ontario. In aggregate, Penn National's operated facilities feature over 26,300 gaming machines, approximately 400 table games, over 2,000 hotel rooms and over 959,000 square feet of gaming floor space.

In the second half of 2010, the Company plans to add table games to its facilities in West Virginia and Pennsylvania and expects to open the first video lottery terminal facility in the state of Maryland in Cecil County. Through a joint venture, Penn National is developing a full casino at Kansas Speedway in Kansas City, which is anticipated to open in early 2012, and is also developing casinos in Toledo and Columbus, Ohio, with openings targeted for the second half of 2012. Penn National has agreed to acquire Beulah Park in Ohio in a transaction expected to close in mid 2010 and has also agreed to establish a joint venture to own and operate the Maryland Jockey Club (expected to close in mid-2010), subject to regulatory and other approvals.

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 "Penn National") 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 Penn National's actual results to differ from expectations include, but are not limited to, risks related to the following: our ability to maintain regulatory approvals for our existing businesses and to receive regulatory approvals for our new businesses; the passage of state, federal or local legislation that would expand, restrict, further tax, prevent or negatively impact operations (such as a smoking ban at any of our facilities or the results of local referenda) in the jurisdictions in which we do business or seek to do business; the activities of our competitors and the emergence of new competitors; construction factors, including delays, unexpected remediation costs, local opposition and increased cost of labor and materials; the costs and risks involved in the pursuit of those development opportunities; the availability and cost of financing; the effects of local and national economic, credit, capital market, housing, energy conditions on the economy in general and on the gaming and lodging industries in particular; and other factors as discussed in Penn National's Annual Report on Form 10-K for the year ended December 31, 2009, subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K as filed with the SEC. Penn National does not intend to update publicly any forward-looking statements except as required by law.

SOURCE: Penn National Gaming, Inc.

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