Penn National Gaming Names John ''Gary'' Luderitz General Manager of Proposed Pennsylvania Gaming Facility; Gaming Industry Executive Brings More Than Twenty Five Years of Experience to Future Hollywood Casino at Penn National Race Course

Business Wire, Oct 5, 2005

WYOMISSING, Pa. -- Penn National Gaming, Inc. (Nasdaq: PENN) ("Penn") announced today that John "Gary" Luderitz has been named, subject to securing all necessary regulatory approvals, General Manager of Penn's proposed Hollywood Casino at Penn National Race Course in Grantville, Pennsylvania, near Harrisburg.

In his new role, Mr. Luderitz will have overall responsibility for all facets of Penn National's operations in Grantville, including Penn National Race Course. Mr. Luderitz will also assume responsibility for the operation of the Company's proposed integrated racing and gaming facility, once it is developed.

Mr. Luderitz brings over 25 years of successful gaming industry experience to his new position with Penn National Gaming. During the course of his career, he has held management positions at some of the nation's premier gaming facilities, and most recently served as Executive Vice President and Assistant General Manager of Resorts Casino in Atlantic City, New Jersey. He previously held senior management positions in casino operations and marketing for Hilton and the Sands in Atlantic City and the Atlantis in Nassau, Bahamas.

"We are pleased to welcome Gary as General Manager of our planned Pennsylvania gaming operations," stated Kevin DeSanctis, President and Chief Operating Officer of Penn National Gaming. "Gary has a proven track record in overseeing successful operations of the size and scope we envision for this exciting new project. Penn National's long-term success can be attributed to our philosophy of attracting and developing premier management talent at each of our properties. Given the significance of this project, which we believe will emerge as an important catalyst for continued growth, we are pleased to appoint an executive of Gary's caliber to this position."

Mr. Luderitz is a 1978 graduate of Eastern Michigan University and served in the U.S. Navy Active Reserve from 1972 to 1975.

About Penn National Gaming

Penn National Gaming owns and operates casino and horse racing facilities with a focus on slot machine entertainment. Reflecting the recent addition of five Argosy Gaming Company properties, the Company presently operates seventeen 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 20,000 slot machines, over 450 table games, over 2,100 hotel rooms and over 650,000 square feet of gaming floor space. Although the Company's Casino Magic - Bay St. Louis, in Bay St. Louis, Mississippi and the Boomtown Biloxi casino in Biloxi, Mississippi remain closed following extensive damage incurred as a result of Hurricane Katrina, all property statistics are inclusive of these properties. Property statistics also include Argosy's Alton Belle Casino in Alton, Illinois and Empress Casino Joliet in Joliet, Illinois, which Penn National plans to divest pursuant to the merger approval. Property statistics do not include contributions from Argosy Casino - Baton Rouge in Baton Rouge, Louisiana which Penn National is divesting.