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Penn National Gaming to Re-Brand Charles Town Facility as Hollywood Casino at Charles Town Races

"The Hollywood Casino brand has been very successful for Penn National in the Pennsylvania, Indiana, Baton Rouge, Maine, Mississippi Gulf Coast and Aurora, Illinois markets," said Al Britton. "With the introduction this summer of table games -- including blackjack, craps, roulette, baccarat, and poker -- expanded Hollywood decor, atmosphere and new entertainment offerings, this will be the perfect time to utilize this valuable brand. Importantly, as we expand to a full service casino and add new features and amenities, we are focused on preserving the rich tradition of racing that has been part of Charles Town for the last 77 years."

Renovations are underway to bring the classic style and glamour of 1930s art deco Hollywood to the Charles Town gaming floor along with the latest technology and amenities designed for ultimate guest comfort. Guests will be immersed in the Hollywood atmosphere the minute they walk in the door. A giant serpentine video wall projecting first-run movie trailers and video shorts will greet players entering the casino at the valet entrance. Flat panel video screens and video trees will be added throughout the casino so that guests can enjoy entertainment programming and sporting events while they play. A noodle bar is being added to the mix of offerings in the casino food court and future plans call for the addition of a Final Cut Steakhouse.

In addition to continuing to offer over 5,000 slot machines throughout the property, Hollywood Casino at Charles Town Races will feature 9 table game areas, including a non-smoking, high roller, and party pit on the casino floor with a total of 85 games, plus a 27-table poker room. Twelve types of table games will be featured including: Blackjack, Craps, Roulette, Mini-Baccarat and Pai Gow Poker. At the edge of the existing casino floor, a new gaming area is under construction that will feature table games, slots and an exciting new entertainment lounge, Hollywood on the Roof, which will feature a performance stage and giant panoramic screen.

John V. Finamore, Senior Vice President Regional Operations of Penn National Gaming added, "The introduction of table games and our re-branding of the gaming floor will significantly enhance our gaming and entertainment offerings, provide existing and new customers with the look and feel of a truly unique entertainment experience and provide cohesiveness to our company-wide branding and marketing initiatives. With the Hollywood brand, our guests can expect a more sophisticated and comfortable atmosphere and the same outstanding service that they've come to expect from Charles Town."

Charles Town is a world-class entertainment venue offering visitors more than 5,000 slot machines, live and simulcast horse racing and a wide range of food and beverage choices, including the 350-seat Epic Buffet. The historic Charles Town Races has hosted live thoroughbred racing since 1933 and began offering gaming to visitors in 1997 following its acquisition by Penn National earlier that year. Conveniently located about a one-hour drive from the Baltimore and Washington DC beltways, Charles Town is one of the region's fastest growing gaming and entertainment destinations with more than four million visitors each year.

Hotel accommodations can be found on property at the Inn at Charles Town, which features 153 comfortable guest rooms including 18 spacious suites that overlook live thoroughbred racing action. Guests can enjoy a complimentary breakfast buffet, wireless internet access and can unwind by taking the complimentary shuttle service to enjoy racing, slot action and dining at one of nine restaurants at Charles Town. The Inn at Charles Town offers a variety of rooms to host business or social functions.

In July 2010, Charles Town Races & Slots will introduce table games to a newly renovated casino floor and be renamed Hollywood Casino at Charles Town Races. To prepare for the introduction of tables games at the casino, approximately four hundred trainees are enrolled in a dealer school operated by Blue Ridge Community & Technical College at the property. Of these, 70% are West Virginia residents while 40% live in Jefferson County.

For more information on the facility and its offerings, visit www.charelstownraces.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.
Eric Schippers, 610-373-2400
Senior Vice President, Public Affairs
or
Jaffoni & Collins Incorporated
Joseph N. Jaffoni, Richard Land
212-835-8500
penn@jcir.com