Press Release

Peter M. Carlino, Chairman and Chief Executive Officer of Penn National Gaming, commented, "Penn National and Charles Town Races & Slots have worked over the past 12 years to establish a true destination entertainment facility featuring an outstanding thoroughbred race track and quality entertainment center which, in turn, has become a significant economic contributor to Charles Town, Jefferson County and the state of West Virginia. Penn National Gaming has invested over $300 million to support live thoroughbred racing, gaming, live entertainment, diverse food and beverage offerings, expanded parking and the construction of a 153-room hotel. The voter approval of the table games referendum sets the stage for the next step in the evolution of Charles Town and will allow Penn National to further invest in the community by creating 500 new jobs and an important new tax base. We are encouraged that the residents of Jefferson County saw the need to keep Charles Town Races & Slots competitive in today's marketplace and are grateful for the support demonstrated by so many in the community as well as the endless energy and commitment of our employees throughout this campaign."

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 addition to historical facts or statements of current conditions, this press release contains forward-looking statements that involve risks and uncertainties within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect the Company's current expectations and beliefs but are not guarantees of future performance. As such actual results may vary materially from 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 maintain regulatory approvals for our existing businesses and to receive regulatory approvals for our new businesses; the passage of state, federal or local legislation or referenda that would expand, restrict, further tax, prevent or negatively impact operations (such as a smoking ban at any of our facilities) in the jurisdictions in which we do business; construction factors, including delays and increased cost of labor and materials; 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 the Company's Annual Report on Form 10-K for the year ended December 31, 2008, 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.

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