Penn National Gaming Secures Operators License in Maine

WYOMISSING, Pennsylvania -- (PRESS RELEASE) -- Penn National Gaming, Inc. (Nasdaq: PENN) announced today that the Maine Gambling Control Board unanimously approved a final license for its subsidiary, Bangor Historic Track, to operate slot machines in Bangor. Maine regulators also voted unanimously to approve licenses for three key executives who will manage the facility.

As previously reported, Penn National recently completed its acquisition of an off-track betting facility in Bangor, Maine to house its initial slot operations in the state. Penn National's Hollywood Slots facility is now under construction and the Company expects to commence operations with approximately 475 slots at this site in November. Plans for a permanent facility with up to 1,500 slots are also currently underway.

Penn National Gaming owns and operates casino and horse racing facilities with a focus on slot machine entertainment. The Company presently operates eleven facilities in nine jurisdictions including West Virginia, Illinois, Louisiana, Mississippi, Pennsylvania, New Jersey, Colorado, Maine and Ontario. In aggregate, Penn National's facilities feature over 13,000 slot machines, 260 table games, 1,286 hotel rooms and 417,000 square feet of gaming floor space. In November 2004, Penn agreed to acquire all of the outstanding shares of Argosy, which it expects to complete in September 2005.