Penn National Gaming Names Jon Johnson General Manager of New Gaming F

    Business Editors/Casino Writers/Gambling Writers

    BANGOR, Maine & WYOMISSING, Pa.--(BUSINESS WIRE)--May 11, 2005--Penn National Gaming, Inc. (Nasdaq: PENN) announced today that Jon Johnson has been named, subject to being granted all necessary regulatory approvals, General Manager of Penn's new gaming facility now under development in Bangor, Maine. Mr. Johnson currently serves as the Assistant General Manager at Penn National's Hollywood Casino in Tunica, Mississippi.
    In his new role, Mr. Johnson will be responsible for all facets of Penn National's operations in Bangor, including Bangor Historic Track and the new temporary gaming facility that the company plans to begin constructing by early summer and open by year-end. Mr. Johnson will also assume responsibility for the operation of the company's larger, 1,500 slot machine permanent gaming facility in Bangor once it is developed.
    Mr. Johnson, a Gary, Indiana native, brings 28 years of successful gaming industry experience to his new position with Penn's Bangor facility. During the course of his career, he has worked at some of the nation's premier gaming facilities in a variety of key positions, including internal auditor, senior accountant, casino controller, vice president of finance and chief financial officer, and since November 2004, as the Assistant General Manager of Hollywood Casino - Tunica.
    "I am delighted to announce Jon's appointment as General Manager of our planned new operations in Maine," stated Kevin DeSanctis, President and Chief Operating Officer of Penn National Gaming. "Jon has built a solid reputation as a talented and dedicated executive and we have been very impressed by his performance at Hollywood Casino. He is a natural choice to lead our new enterprise in Maine," DeSanctis continued. "I know Jon is anxious to undertake this move and get to know and become part of the Greater Bangor community in the coming months," he added.
    Mr. Johnson is married with five children and two grandchildren. He is a 1975 graduate of the University of Las Vegas and holds a Bachelors of Science degree in Business Administration.
    "This new appointment is a very exciting opportunity," Johnson indicated. "I look forward to bringing my family to Bangor and to becoming a contributing member of the local business community, and to helping make Penn National's gaming facility a successful and valued asset," he added.

    About Penn National Gaming

    Penn National Gaming owns and operates casino and horse racing facilities with a focus on slot machine entertainment. The Company presently operates eleven facilities in nine jurisdictions including West Virginia, Illinois, Louisiana, Mississippi, Pennsylvania, New Jersey, Colorado, Maine and Ontario. In aggregate, Penn National's facilities feature over 13,000 slot machines, 260 table games, 1,286 hotel rooms and 417,000 square feet of gaming floor space.
    The company is currently in the process of completing the disposition of the Shreveport, Louisiana Hollywood Casino. In November 2004, Penn National Gaming agreed to acquire all of the outstanding shares of Argosy Gaming Company, which it expects to complete in the third quarter of 2005.

    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. The Company describes certain of these risks and uncertainties in its filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2004. Meaningful factors which could cause actual results to differ from expectations described in this press release include, but are not limited to, risks related to the following: the passage of state, federal or local legislation that would expand, restrict, further tax or prevent gaming operations in the jurisdictions in which we do business; our ability to successfully complete the proposed acquisition of Argosy Gaming Company and to successfully integrate its operations; our ability to maintain regulatory approvals for our existing businesses and to receive regulatory approvals for our new businesses (including without limitation the issuance of final operators' licenses in Maine and Pennsylvania); delays in the process of finalizing gaming regulations and the establishment of related governmental infrastructure in Pennsylvania and Maine. Furthermore, the Company does not intend to update publicly any forward-looking statements except as required by law. The cautionary advice in this paragraph is permitted by the Private Securities Litigation Reform Act of 1995.

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CONTACT: Penn National Gaming, Inc. Eric Schippers, 610-378-8321 Vice President, Public Affairs

KEYWORD: MAINE PENNSYLVANIA INDUSTRY KEYWORD: GAMING MANAGEMENT CHANGES SOURCE: Penn National Gaming, Inc.

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