Penn National reports meeting results

WYOMISSING, Pennsylvania -- (PRESS RELEASE) --Penn National Gaming, Inc. (PENN: Nasdaq) today announced results of its Annual Meeting of Shareholders, which was held earlier today:

* Shareholders voted to re-elect Robert P. Levy and Barbara Z. Shattuck for three year terms as Class II directors.

* Shareholders approved the Annual Incentive Plan and the performance goals thereunder, which specifies bonus compensation for employees based upon the attainment of pre-established performance goals.

* Shareholders voted against the 2007 Employees Long Term Incentive Compensation Plan and the 2007 Long Term Incentive Compensation Plan for Non-Employee Directors of the Company ("the 2007 Equity Compensation Plans"). Accordingly, the Company will not proceed with its previously announced program to repurchase up to $200 million of the Company's common stock as it was conditioned on shareholder approval of the 2007 Equity Compensation Plans.