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Fair has played a significant role in overseeing and structuring the financing strategies for the Companys major growth initiatives, including the acquisition and master plan development of Tropicana Las Vegas; the development and opening of Plainridge Park Casino in Massachusetts; the construction of Hollywood Casino Jamul-San Diego; and the Companys entrance into the video gaming terminal (VGT) market in Illinois, commencing with the acquisition of Prairie State Gaming. In his role as CFO, Mr. Fair will continue to oversee all corporate growth and development initiatives and the Companys financial and treasury functions, including financial and periodic reporting to the Securities and Exchange Commission, bank relationships, conducting internal and industry analysis to support the Companys goals for growth, investor relations, and transactional activities. Penn National Gaming Chief Executive Officer, Timothy Wilmott, commented, We want to express our deep gratitude to Saul for his extensive contributions to Penn National during a transformational period for our Company, during which we completed the successful separation of our gaming assets from our real estate assets, thus creating the gaming industrys first real estate investment trust (REIT). Having previously worked with the Company for over 15 years in both an auditing and Board capacity, Saul helped Penn National maintain its long-term record of growth and success as we continued the expansion of our regional gaming platform, acquired an asset on the Las Vegas strip and leveraged our core competencies in new areas such as social and online gaming and the VGT market. In addition, Saul played a leading role in the Jamul Indian Villages $460 million refinancing of the Hollywood Casino-Jamul San Diego, which was announced today. On behalf of the Board of Directors and everyone at Penn National, we wish him the very best in his retirement and thank him for ensuring that the transition is managed seamlessly and efficiently. Mr. Wilmott added, BJ brings a solid record of corporate growth, strategic development and financial experience to his new role, and hell be working alongside a deep and experienced team of operations, marketing, gambling games project development and legal professionals to help him execute on our strategic growth initiatives and our near-term priorities to de-lever and strengthen our balance sheet. Mr. Fair previously served as President and Chief Executive Officer of American Skiing Company where he had oversight of ten ski mountain resorts.

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