EXHIBIT 99.1
PENN NATIONAL GAMING LEARNS SHOWBOAT
LAWSUIT IS RE-FILED IN PENNSYLVANIA
Wyomissing, Penn. (February 19, 2002) -- Penn National Gaming, Inc.
(Nasdaq:PENN) today announced that it has learned that Showboat Development
Company has filed a lawsuit in the United States District Court for the Eastern
District of Pennsylvania against the Company. As of today, the Company has not
been served with the lawsuit and has been unable to procure a copy of the
complaint. However, the Company has no reason to believe that the substance of
this lawsuit is different from Showboat's previous claim filed in the United
States District Court of Nevada, which was dismissed for lack of personal
jurisdiction on January 25, 2002. That suit, filed in July 2001, alleged, among
other claims, that Penn National's operation of its Charles Town Races property
in West Virginia constitutes the operation of a casino, thereby triggering an
option Showboat holds to manage a casino at the facility. The Company intends to
vigorously defend itself against all claims in connection with this action.
Penn National Gaming owns and operates Charles Town Races in Charles Town, West
Virginia, which presently features 2,000 gaming machines; two Mississippi
casinos, the Casino Magic hotel, casino, golf resort and marina in Bay St. Louis
and the Boomtown Biloxi casino in Biloxi; and the Casino Rouge, a riverboat
gaming facility in Baton Rouge, Louisiana. Penn National also owns two
racetracks and eleven off-track wagering facilities in Pennsylvania and the
racetrack at Charles Town Races in West Virginia, and operates the Casino Rama,
a gaming facility located approximately 90 miles north of Toronto, Canada,
pursuant to a management contract.
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CONTACT:
William J. Clifford Joseph N. Jaffoni
Chief Financial Officer Jaffoni & Collins Incorporated
610/373-2400 212/835-8500 or penn@jcir.com
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