Penn National Gaming Names Bob Sheldon President of Las Vegas Operations

Anthony Marnell, Current President and General Manager of M Resort to Transition to Strategic Consulting Role with Penn National

Penn National Gaming, Inc. (PENN: Nasdaq) (the “Company,” “Penn National” or “Penn National Gaming”) announced today the appointment of Bob Sheldon as President of Las Vegas Operations effective July 6, 2015, subject to regulatory approvals. In this newly created position, Mr. Sheldon will oversee the operations of Tropicana Las Vegas following the completion of the Company’s acquisition of the iconic Strip property, which is expected to occur later this year, as well as the operations of the M Resort in Henderson. Mr. Sheldon will report directly to Jay Snowden, Penn National’s Chief Operating Officer.

Bob Sheldon currently serves as the General Manager of Hollywood Casino at Kansas Speedway, which is jointly owned with International Speedway Corporation, and was responsible for the property’s successful opening in February 2012. A search for his replacement is underway.

Jay Snowden, Chief Operating Officer of Penn National Gaming, commented, “Bob has been a key member of our integration planning team as we begin to lay the foundation for a smooth transition at Tropicana Las Vegas. He’s excited to be returning to his professional roots in Las Vegas where he began his career at the Las Vegas Hilton and later spent many years with the Mirage Resorts organization, including serving as President of the Golden Nugget Hotel and Casino. He has a deep knowledge of not only the Las Vegas market but how to successfully run large resort operations, including Foxwoods Resort Casino in Connecticut, as well as the Waldorf=Astoria and the Beverly Hills Hilton. Bob is ideally suited to drive our Las Vegas strategy forward and lead the Tropicana Las Vegas in its next phase of growth and long-term success.”

Anthony Marnell, who is currently the President and General Manager at the M Resort, will be transitioning to a new strategic consulting role for Penn National focused on community and political relations in Nevada as well as Penn National’s long-term property development plans in Las Vegas. Mr. Marnell, along with Marnell Corrao Associates, designed and built the M Resort in 2007 and opened the property in 2009.

“Every inch of the M Resort bears the Marnell family signature for high quality design and exquisite attention to detail,” said Jay Snowden. “We are proud to retain the M Resort name and carry on the Marnell family legacy there. Going forward, Penn National will benefit from Anthony’s expertise and knowledge of Nevada gaming and the greater Las Vegas business and political landscape. As we integrate Tropicana Las Vegas into our growing property portfolio and further refine the operations at the resort, Anthony’s casino, design and construction expertise will also be invaluable to our entire team as we focus on the long-range master planning of our operations in Las Vegas. Bob Sheldon and his team will work closely with Anthony over the coming months to ensure a smooth transition.”

About Penn National Gaming

Penn National Gaming owns, operates or has ownership interests in gaming and racing facilities with a focus on slot machine entertainment. At March 31, 2015, the Company operated twenty-six facilities in seventeen jurisdictions, including Florida, Illinois, Indiana, Kansas, Maine, Massachusetts, Maryland, Mississippi, Missouri, Nevada, New Jersey, New Mexico, Ohio, Pennsylvania, Texas, West Virginia, and Ontario. At March 31, 2015, in aggregate, Penn National Gaming’s operated facilities featured approximately 31,000 gaming machines, 760 table games and 3,100 hotel rooms.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward looking terminology such as “expects,” “believes,” “estimates,” “projects,” “intends,” “plans,” “seeks,” “may,” “will,” “should” or “anticipates” or the negative or other variations of these or similar words, or by discussions of future events, strategies or risks and uncertainties, including future plans, strategies, performance, developments, acquisitions, capital expenditures, and operating results. Actual results may vary materially from expectations. These forward looking statements are inherently subject to risks, uncertainties and assumptions about Penn National Gaming and its subsidiaries, including risks related to required regulatory approvals and other conditions to closing, higher leverage, the successful integration of the acquisition, our ability to successfully leverage our player database, market conditions affecting the Las Vegas Strip, ongoing litigation, labor relations, future capital expenditures, the risks associated with construction projects (such as delays and unexpected costs) and the availability and cost of capital and, accordingly, any forward looking statements are qualified in their entirety by reference to the factors discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014, as well as any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, each as filed with the United States Securities and Exchange Commission. The Company does not intend to update publicly any forward-looking statements except as required by law. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release may not occur.

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Penn National Gaming, Inc.Eric Schippers, 610/373-2400Sr. Vice President, Public AffairsorJCIRJoseph N. Jaffoni, Richard Land212/[e-mail]