Penn National Gaming Breaks Ground On Plainridge Park Casino

Penn National Gaming, Inc. (Nasdaq: PENN) formally broke ground today on the development of Plainridge Park Casino, starting the construction of its $225 million fully integrated racing and gaming operation located at the current site of Plainridge Racecourse. Penn National was awarded the Commonwealth of Massachusetts’ single slots-only gaming license on February 28, 2014.

“Today marks a significant moment in the growth and future of Penn National Gaming. We are elated to begin construction on our 27 th property and look forward to opening Plainridge Park Casino a little over a year from now, thus bringing casino gaming to the Commonwealth of Massachusetts under the banner of the largest regional gaming company in the United States,” said Jay Snowden, Chief Operating Officer of Penn National Gaming. “Our team expects to work around the clock to achieve the same goals we met in each of our last six openings over the past five years – opening on time, with a big splash and with immediate benefits to the local community.”

Joining Mr. Snowden and members of Penn National’s executive team at the groundbreaking were the Commissioners of the Massachusetts Gaming Commission, state and local elected officials from Plainville, leaders of the harness racing industry, labor organization leaders, and local businesses owners.

Penn National has started both the bidding process for construction vendor opportunities and for identifying talent to fill senior leadership positions at Plainridge Park Casino. The company expects to post a complete list of job opportunities at the new facility by the end of the summer. Penn National’s Human Resources Department has begun meeting with the leadership of the Community College Casino Careers Training Institute to develop a path forward for employment opportunities. The company plans to complete the hiring process approximately 60-90 days prior to its grand opening.

About Plainridge Park Casino

Plainridge Park Casino will include a fully integrated 106,000 square foot racing and gaming facility featuring live harness racing and simulcasting with 1,250 slot machines, an upscale casual dining restaurant, the first-ever Doug Flutie Sports Bar, four-venue food court, harness concourse bar, multi-purpose banquet room, entertainment lounge and casino bar, 1,620 structured and surface parking spaces, 26,000 square foot grandstand with box and reserved seats, and 13,000 square foot clubhouse with box seats.

About Penn National Gaming

Penn National Gaming, through its subsidiaries, owns, operates or has ownership interests in gaming and racing facilities with a focus on slot machine entertainment. The Company presently operates twenty-seven facilities in eighteen jurisdictions, including Florida, Illinois, Indiana, Iowa, Kansas, Maine, Massachusetts, Maryland, Mississippi, Missouri, Nevada, New Jersey, New Mexico, Ohio, Pennsylvania, Texas, West Virginia, and Ontario. In aggregate, Penn National's operated facilities feature approximately 31,000 gaming machines, 800 table games and 2,900 hotel rooms.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements can be identified by the use of forward looking terminology such as “expects,” “believes,” “estimates,” “expects,” “intends,” “may,” “will,” “should,” or “anticipates,” or the negative or other variation of these or similar words, or by discussions of future events, strategies or risks and uncertainties. Such forward looking statements are inherently subject to risks, uncertainties and assumptions about Penn National Gaming and its subsidiaries, including risks related to the ultimate location of the various other gaming facilities in Massachusetts and the ongoing efforts in the state to repeal the enabling legislation, and accordingly, any forward looking statements are qualified in their entirety by reference to the factors described in Penn National Gaming’s Annual Report on Form 10-K for the year ended December 31, 2013, subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K as filed with the Securities and Exchange Commission. All subsequent written and oral forward looking statements attributable to Penn National Gaming or persons acting on the Company’s behalf are expressly qualified in their entirety by the cautionary statements included in this press release. Penn National Gaming undertakes no obligation to publicly update or revise any forward looking statements contained or incorporated by reference herein, whether as a result of new information, future events or otherwise, except as required by law. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release may not occur.

Copyright Business Wire 2010

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