PENN Entertainment, Inc. — Director's Dealing 2012

Nov 20, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PENN NATIONAL GAMING INC (PENN)
CIK: 0000921738
Period of Report: 2012-11-16

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-11-16	Common Stock	M	30000	$29.22	Acquired	119803	Direct
2012-11-16	Common Stock	S	30000	$49.32	Disposed	89803	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-11-16	Non-Qualified Stock Options (right to buy)	$29.22	M	30000	Disposed	2015-01-06	Common Stock (30000)	Direct

Footnotes

F1: All transactions on this form 4 were made pursuant to a stock trading plan, executed by Mr. Snyder on March 10, 2011, established pursuant to rule 10b5-1.