Penn National Gaming Inc. announced the appointment of Saul V. Reibstein, as senior vice president and chief financial officer, effective December 4, 2013, subject to customary regulatory approvals. Mr. Reibstein, who served as a member of the company's board of directors since June 2011 and as chairman of the board's audit committee, succeeds William J. Clifford, who assumed the role of chief financial officer of Gaming and Leisure Properties Inc. (‘GLPI') following the spin-off of GLPI from Penn on November 1, 2013. Mr. Reibstein will report directly to the company's chief executive officer, Timothy J. Wilmott.

Concurrent with the commencement of his employment as senior vice president and chief financial officer, Mr. Reibstein will resign from the company's board of directors, reducing the size of the board to six members. John J. Jacquemin, a current audit committee member who previously served as chairman of the audit committee, will succeed Mr. Reibstein as the chairman of the audit committee. Mr. Reibstein, a CPA, brings over 35 years of public accounting experience and extensive gaming industry knowledge as well as experience with the company to his new role.

At the company, Mr. Reibstein will be responsible for the company's 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 company's goals for growth, investor relations, and transactional activity.