Penn National in Talks with Wembley

20 Nov 2003

WYOMISSING, Pennsylvania -- (Press Release) -- Penn National Gaming, Inc. (Nasdaq: PENN) announced today that it is in discussions with Wembley plc concerning the possible cash acquisition of some or all of the assets and operations of Wembley plc. Wembley plc's principal asset is Lincoln Park, a racetrack and gaming facility located in Lincoln, Rhode Island. Penn National Gaming indicated that there can be no assurance that a transaction will result from its dialogue with Wembley plc. A further announcement will be made as appropriate.

Penn National Gaming owns and operates: three Hollywood Casino properties located in Aurora, Illinois, Tunica, Mississippi and Shreveport, Louisiana; Charles Town Races & Slots(TM) in Charles Town, West Virginia; two Mississippi casinos, the Casino Magic - Bay St. Louis hotel, casino, golf resort and marina in Bay St. Louis and the Boomtown Biloxi casino in Biloxi; the Casino Rouge, a riverboat gaming facility in Baton Rouge, Louisiana and the Bullwhackers casino properties in Black Hawk, Colorado. Penn National also owns two racetracks and eleven off-track wagering facilities in Pennsylvania; the racetrack at Charles Town Races & Slots in West Virginia; a 50% interest in the Pennwood Racing Inc. joint venture which owns and operates Freehold Raceway in New Jersey; and operates Casino Rama, a gaming facility located approximately 90 miles north of Toronto, Canada, pursuant to a management contract.

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	Penn National in Talks with Wembley 20 Nov 2003 <a href='https://ad.casinocity.com/adclick.php?n=a21efcd1'><img src='https://ad.casinocity.com/adview.php?what=-site:vendors/width:250/RON&n=a21efcd1' border='0' alt='' /></a> WYOMISSING, Pennsylvania -- (Press Release) -- Penn National Gaming, Inc. (Nasdaq: PENN) announced today that it is in discussions with Wembley plc concerning the possible cash acquisition of some or all of the assets and operations of Wembley plc. Wembley plc's principal asset is Lincoln Park, a racetrack and gaming facility located in Lincoln, Rhode Island. Penn National Gaming indicated that there can be no assurance that a transaction will result from its dialogue with Wembley plc. A further announcement will be made as appropriate. Penn National Gaming owns and operates: three Hollywood Casino properties located in Aurora, Illinois, Tunica, Mississippi and Shreveport, Louisiana; Charles Town Races & Slots(TM) in Charles Town, West Virginia; two Mississippi casinos, the Casino Magic - Bay St. Louis hotel, casino, golf resort and marina in Bay St. Louis and the Boomtown Biloxi casino in Biloxi; the Casino Rouge, a riverboat gaming facility in Baton Rouge, Louisiana and the Bullwhackers casino properties in Black Hawk, Colorado. Penn National also owns two racetracks and eleven off-track wagering facilities in Pennsylvania; the racetrack at Charles Town Races & Slots in West Virginia; a 50% interest in the Pennwood Racing Inc. joint venture which owns and operates Freehold Raceway in New Jersey; and operates Casino Rama, a gaming facility located approximately 90 miles north of Toronto, Canada, pursuant to a management contract.