12.12.2007 21:20:00

Penn National Gaming Wins Endorsement of Sumner County Commissioners for Proposed Hollywood Casino in Wellington, Kansas

Penn National Gaming, Inc. (Nasdaq: PENN) announced today that it received the unanimous endorsement of the Sumner County Commissioners for its proposed $365 million Hollywood Casino Resort in Wellington, Kansas. The endorsement came at the end of a highly-competitive review process instituted by the Sumner County Commissioners whereby interested applicants vying to develop a destination casino resort in Sumner County submitted proposals by November 28 to the County Commissioners, followed by in-person presentations on December 10 and 11. Under the State’s new Gaming Act, an endorsement of the host county is a prerequisite in negotiating for, and ultimately securing, a state lottery gaming facility management contract. In addition to Penn National’s Wellington proposal, the Commissioners received a proposal from Binion Family Trust (Marvel Gaming) for a competing Wellington location, and proposals from Harrah’s Entertainment and MGM Mirage-Foxwoods Development for competing sites in the City of Mulvane. The Commission voted to endorse only the two Wellington proposals. Beginning on or around December 28, Penn National and the Binion Family Trust will enter into separate negotiations with the State Lottery Commission for management contracts, which will later be sent to an independent review Board to determine which is in the best interest of the State. Final selection is scheduled for May 12, 2008. "We are very grateful to the Sumner County Commissioners for their unanimous endorsement of our proposal and we are delighted with their decision,” said Steven Snyder, Sr. Vice President of Corporate Development, who presented Penn National’s proposal to the County. "As we expressed during our presentation, as the nation’s top operator of regional gaming facilities, this project is right in our ‘sweet spot.’ The Commissioners’ endorsement of the Wellington proposals reflects the tremendous amount of local support in Wellington and the City’s strategic location in the middle of the County. We’re confident in our ability to create an economic catalyst for Wellington and the entire region, and anxiously await the next step in this process.” The proposed Hollywood Casino Resort – Wellington is a 450,000 square foot state-of-the-art facility featuring a 350 room resort hotel with luxury suites, spa and fitness center, and a 70,000 square foot gaming floor with 1,500 slot machines and 40 table games; capable of quick expansion to 2,000 slots. In addition, the casino will feature Hollywood themed-memorabilia, a variety of culinary options, a sports bar, retail center, and a 1,750-seat entertainment and convention center. The facility is master-planned for up to $200 million in additional investment and expansion, including mixed use and retail space, an executive golf course and another first-class hotel, bringing the total project to an estimated cost of $565 million. Penn National also has a lottery gaming facility management application pending with the State Lottery Commission for its proposed $295 million Hollywood Casino Resort in Cherokee County, Kansas. By operating Hollywood Casino resorts in both Sumner and Cherokee Counties, Penn National looks to create critical mass along the southern Kansas border and to generate important marketing synergies to better compete against the ongoing proliferation of Oklahoma tribal gaming. 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 23,000 slot machines, over 400 table games, approximately 1,731 hotel rooms and approximately 808,000 square feet of gaming floor space. 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. Penn 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, 2006. Meaningful factors which could cause actual results to differ from expectations described in this press release include, but are not limited to, the passage of state, federal or local legislation that would expand, restrict, further tax or prevent gaming operations in Kansas; the failure to obtain or delays in obtaining the remaining regulatory approvals in Kansas; the availability or cost of financing; construction factors, including delays, increased cost for labor and materials; and other factors as discussed in the Company's filings with the United States Securities and Exchange Commission. 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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