Penn National Gaming President to Leave

WYOMISSING, Pennsylvania – (PRESS RELEASE) -- Penn National Gaming, Inc. (Nasdaq: PENN) announced today that by mutual agreement, the Company's President and Chief Operating Officer, Kevin DeSanctis, will be leaving the Company by year-end 2006 to form Revel Entertainment.

Penn National Gaming has retained the executive search firm Heidrick & Struggles International, Inc. to assist the Company's Board of Directors and senior management, including Mr. DeSanctis, in identifying a successor.

Commenting on the announcement, Peter M. Carlino, Chief Executive Officer of Penn National said, "We want to express our gratitude to Kevin for his contributions to Penn National over the past five years, thank him in advance for ensuring that this transition is managed seamlessly and efficiently, and wish him the best in his future endeavors.

"Penn National Gaming has a deep, capable team of operations, finance, marketing, project development and legal executives to manage the current properties and planned expansions. In addition, our casinos are led by experienced, results-oriented gaming executives who serve as General Managers. We are confident in the ability of these teams to ensure our ongoing success."

Kevin DeSanctis added, "Penn National is an outstanding, fast growing gaming Company and I am proud to have contributed to the Company's success during my tenure. I look forward to working with Executive Vice President, Operations, Len DeAngelo, CFO, Bill Clifford and Penn National's team to ensure a seamless transition.

"I intend to pursue gaming industry opportunities through Revel Entertainment. I will be establishing this entity so I can invest directly as a principal shareholder and apply my 25 years of experience in managing and developing gaming properties."