Penn National Gaming Presentations at Deutsche Bank and J.P. Morgan Conferences to Be Webcast on March 5 and March 7

Penn National Gaming, Inc. (Nasdaq: PENN) announced today that members of its management team will participate at two upcoming institutional investor conferences which will be webcast:

• March 5: Deutsche Bank 2013 Consumer, Retail, Gaming & Lodging Conference at The Fairmount Copley Plaza in Boston.
  • Fireside chat and management Q&A with Hayes Croushore, Director of Finance and Investor Relations, at 10:00 a.m. ET followed by a group meeting with institutional investors
  • Audio webcast available at www.pngaming.com (“Investors”/“Events”) or http://www.media-server.com/m/p/xfun69cd. Audio replays will be available on the Company’s website following the conference and will be archived for 90 days
  • The Company’s PowerPoint presentation will be available at www.pngaming.com on Tuesday, March 5 at 10:00 a.m. ET

• March 7: J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum at the Mandarin Oriental in Las Vegas.
  • Fireside chat and management Q&A with Bill Clifford, Chief Financial Officer, at 8:15 a.m. PT (11:15 a.m. ET) followed by a group meeting with institutional investors
  • Audio webcast available at www.pngaming.com (“Investors”/“Events”) or http://jpmorgan.metameetings.com/webcasts/gaming13/directlink.php?ticker=PENN. Audio replays will be available on the Company’s website following the conference and will be archived for 90 days
  • The Company’s PowerPoint presentation will be available at www.pngaming.com on Thursday, March 7 at 8:15 a.m. PT (11:15 a.m. ET)

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. The Company presently operates twenty-nine facilities in nineteen jurisdictions, including Colorado, Florida, Illinois, Indiana, Iowa, Kansas, Louisiana, Maine, Maryland, Mississippi, Missouri, Nevada, New Jersey, New Mexico, Ohio, Pennsylvania, Texas, West Virginia, and Ontario. In aggregate, Penn National's operated facilities currently feature approximately 35,600 gaming machines, approximately 830 table games, 2,900 hotel rooms and approximately 1.6 million square feet of gaming floor space.

Forward-looking Statements

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, the “Company” or “PENN”) 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 actual results to differ from expectations include, but are not limited to, risks related to the following: the proposed separation of PropCo from PENN, including our ability to timely receive all necessary consents and approvals, the anticipated timing of the proposed separation, the expected tax treatment of the proposed transaction, the ability of each of the post spin Company and PropCo to conduct and expand their respective businesses following the proposed spin-off, and the diversion of management’s attention from traditional business concerns; our ability to obtain timely regulatory approvals required to own, develop and/or operate our facilities, or other delays or impediments to completing our planned acquisitions or projects, including favorable resolution of any related litigation, including the appeal by the Ohio Roundtable addressing the legality of video lottery terminals in Ohio; our ability to secure state and local permits and approvals necessary for construction; construction factors, including delays, unexpected remediation costs, local opposition and increased cost of labor and materials; our ability to successfully integrate Harrah’s St. Louis into our existing business; our ability to reach agreements with the thoroughbred and harness horseman in Ohio in connection with the proposed relocations and to otherwise maintain agreements with our horseman, pari-mutuel clerks and other organized labor groups; the passage of state, federal or local legislation (including referenda) that would expand, restrict, further tax, prevent or negatively impact operations in or adjacent to the jurisdictions in which we do or seek to do business (such as a smoking ban at any of our facilities); the effects of local and national economic, credit, capital market, housing, and energy conditions on the economy in general and on the gaming and lodging industries in particular; the activities of our competitors and the emergence of new competitors (traditional and internet based); increases in the effective rate of taxation at any of our properties or at the corporate level; our ability to identify attractive acquisition and development opportunities and to agree to terms with partners for such transactions; the costs and risks involved in the pursuit of such opportunities and our ability to complete the acquisition or development of, and achieve the expected returns from, such opportunities; our expectations for the continued availability and cost of capital; the outcome of pending legal proceedings; changes in accounting standards; our dependence on key personnel; the impact of terrorism and other international hostilities; the impact of weather; and other factors as discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2011, subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K as filed with the SEC. The Company does not intend to update publicly any forward-looking statements except as required by law.