WYOMISSING, Pa.–(Business Wire)–
Penn National Gaming, Inc. (Nasdaq: PENN) announced today that it will release
its 2010 first quarter financial results at 7:00 a.m. ET on Thursday, April 22,
2010 and will host a conference call and simultaneous webcast at 10:00 a.m. ET
on Thursday, April 22, 2010. Both the call and webcast are open to the general
public.

The conference call number is 212/231-2929; please call five minutes in advance
to ensure that you are connected prior to the presentation. Interested parties
may also access the live call on the Internet at www.pngaming.com; allow 15
minutes to register and download and install any necessary software. Questions
and answers will be reserved for call-in analysts and investors. Following its
completion, a replay of the call can be accessed until May 22, 2010 by dialing
800/633-8284 or 402/977-9140 (international callers). The access code for the
replay is 21466145. A replay of the call can also be accessed for thirty days on
the Internet at www.pngaming.com.

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. The Company recently announced its planned acquisition of Beulah Park
in Ohio in a transaction expected to close in the second quarter of 2010.

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) 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.

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

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