Harry Oshanski Named President of Casino Rama, Pending Final Regulatory Approvals

Penn National Gaming, Inc. announced today that Harry Oshanski, Vice President of Resort Operations at Casino Rama in Ontario, has been promoted to President, pending required approvals. The appointment follows the resignation of Art Frank, President and Chief Executive Officer at Casino Rama, who will be departing on June 30 to assume a management role at Niagara Fallsview Casino Resort and Casino Niagara.

Penn National Gaming operates Casino Rama, a full service gaming and entertainment facility, under a management contract on behalf of the Ontario Lottery & Gaming Corporation (OLGC), an agency of the Province of Ontario, which oversees the operation of all gaming facilities in the Province. Casino Rama is located on the lands of the Mnjikaning First Nation, approximately 90 miles north of Toronto, near Orillia.

Commenting on the announcement, Kevin DeSanctis, President and Chief Operating Officer of Penn National said: "Art has done a great job for us at Casino Rama, achieving high levels of customer and employee satisfaction and strong operating results. Fortunately, with the depth of Penn National's management team, we can seamlessly transition the management of the property to Harry, subject to receipt of required regulatory approvals. Harry is a thirty-year hospitality industry veteran who has contributed greatly to Casino Rama's success and growth over the last several years. We're confident he'll be able to guide the property's ongoing success."

Mr. Oshanski has served as Vice President of Resort Operations at Casino Rama since 2000, where he has been responsible for all facets of operations, including table games, hotel, and food and beverage service. During Mr. Oshanski's tenure at Casino Rama, he has been intricately involved in a number of major expansion projects, including a new 5,000 seat entertainment complex and a 300-room all-suite, full-service hotel, featuring spa and health club facilities.

Prior to joining Penn National, Mr. Oshanski spent 25 years in hotel management, most recently serving as General Manager of Hilton Niagara Falls in Ontario where he oversaw the opening and operation of Hilton's four star hotel. Prior to that, he served as Vice President of Operations and Eastern Canada Managing Director of Crowne Plaza in Ottawa, Canada.

Operating 24-hours a day, seven days a week since July 31, 1996, Casino Rama offers a complete entertainment experience with over 2,400 slot machines, more than 110 gaming tables, nine unique restaurants, a world-class 5,000 seat Entertainment Centre and a 300-room all-suite, full-service hotel, featuring spa and health club facilities.

Penn National Gaming owns and operates casino and horse racing facilities with a focus on slot machine entertainment. The Company presently operates sixteen facilities in thirteen jurisdictions including Colorado, Illinois, Indiana, Iowa, Louisiana, Maine, Mississippi, Missouri, New Jersey, Ohio, Pennsylvania, West Virginia, and Ontario. In aggregate, Penn National's facilities feature over 18,600 slot machines, nearly 400 table games, almost 1,200 hotel rooms and approximately 565,000 square feet of gaming floor space. The property statistics in this paragraph exclude the Company's Casino Magic - Bay St. Louis, in Bay St. Louis, Mississippi and the Boomtown Biloxi casino in Biloxi, Mississippi, which following extensive damage incurred as a result of Hurricane Katrina, are expected to re-open later this year.

In addition to historical facts or statements of current conditions, this press release contains forward-looking statements that involve risks and uncertainties within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect the Company's current expectations and beliefs but are not guarantees of future performance. As such actual results may vary materially from expectations.

The risks and uncertainties associated with the forward-looking statements are described in the company's filings with the Securities and Exchange Commission, including the Company's reports on Form 10-K and 10-Q. Penn National assumes no obligation to publicly update or revise any forward-looking statements. The cautionary advice in this paragraph is permitted by the Private Securities Litigation Reform Act of 1995.

For further information: Penn National Gaming, Inc., Eric Schippers, 610-373-2400, Vice President, Public Affairs or Jaffoni & Collins Incorporated, Joseph N. Jaffoni, 212-835-8500, penn@jcir.com