Company Profile For Penn National Gaming, Inc.

Penn National Gaming, Inc. (Penn National) is a diversified, multi-jurisdictional owner, and manager of gaming and pari-mutuel properties. It owns or operates 19 facilities located in Colorado, Florida, Illinois, Indiana, Iowa, Louisiana, Maine, Mississippi, Missouri, New Jersey, New Mexico, Ohio, Pennsylvania, West Virginia, and Ontario. The Company has its owned gaming properties, which includes Charles Town Entertainment Complex, Argosy Casino Lawrenceburg, Hollywood Casino Aurora, Empress Casino Hotel, Argosy Casino Riverside, Hollywood Casino Baton Rouge, Argosy Casino Alton, Hollywood Casino Tunica, Hollywood Casino Bay St. Louis, Argosy Casino Sioux City, Boomtown Biloxi, Hollywood Slots Hotel and Raceway, and Bullwhackers and Black Gold Casino at Zia Park.

BRIEF: For the nine months ended 30 September 2009, Penn National Gaming, Inc.'s revenues decreased 2% to $1.81B. Net income appli. to common decreased 68% to $73M. Revenues reflect decreased management service fees and lower income from Gaming segment. Net income also reflects higher food, beverage & other expense, the presence of Empress Casino Hotel fire expense, the presence of Lawrenceburg vessel expenses and increased depreciation & amortization expenses.