PENN Entertainment, Inc. — Director's Dealing 2011

Jan 5, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PENN NATIONAL GAMING INC (PENN)
CIK: 0000921738
Period of Report: 2011-01-03

Reporting Person: Snyder Steven T. (SR VP-Corp Development)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-01-03	Non-Qualified Stock Options (right to buy)	$35.15	A	70000	Acquired	2018-01-03	Common Stock (70000)	Direct

Footnotes

F1: Vests over 4 years at 25% a year on the anniversary of the date of grant.