Statement from Penn National Gaming about Today's Maryland Attorney General Opinion

WYOMISSING, Pa., Oct. 5 /PRNewswire/ -- Penn National Gaming, Inc is very pleased with today's opinion by Maryland's Attorney General, affirming our first amendment rights to participate in the Anne Arundel Question A referendum and oppose slots at the mall. The Attorney General made it clear that neither PENN nor MJC was in violation of the RFP for PENN's video lottery facility in Perryville in any way.  The AG opinion correctly concluded that the General Assembly has not barred campaign contributions by VLT licensees; and even if it had "a court would likely find an order to cease funding opposition to the referendum unconstitutional."

"Today is yet another win for the democratic process and the voters of Anne Arundel County," stated Eric Schippers, SVP of Public Affairs.  "After decisively losing  two court battles intended solely to prevent the upcoming referendum, The Cordish Company continues to fervently seek to silence the people of Anne Arundel County and yet again, has been instructed that they cannot stop the will of the people.  The ongoing obstructionist tactics by the Cordish Company are merely acts of desperation and bullying intended to suppress voters' wishes. Voters will make their opinion heard on November 2nd and we're confident they will express their belief that there is a better location in Anne Arundel County for a slots facility – one that is not located at the mall."

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 "Penn National") 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 Penn National's actual results to differ from expectations include, but are not limited to, risks related to the following: our ability to maintain regulatory approvals for our existing businesses and to receive regulatory approvals for our new businesses; delays in obtaining regulatory approvals required to complete, or other delays or impediments to completing, our pending transactions, including relative to satisfaction of certain conditions to closing; the passage of state, federal or local legislation that would expand, restrict, further tax, prevent or negatively impact operations (such as a smoking ban at any of our facilities or the results of local referenda) in the jurisdictions in which we do business or seek to do business; the activities of our competitors and the emergence of new competitors; construction factors, including delays, unexpected remediation costs, local opposition and increased cost of labor and materials; the costs and risks involved in the pursuit of those development opportunities; the availability and cost of financing; the effects of local and national economic, credit, capital market, housing, energy conditions on the economy in general and on the gaming and lodging industries in particular; and other factors as discussed in Penn National's Annual Report on Form 10-K for the year ended December 31, 2009, subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K as filed with the SEC.  Penn National does not intend to update publicly any forward-looking statements except as required by law.

SOURCE Penn National Gaming, Inc.