WYPenn National Gaming Inc. announced the appointment of William J. (“B.J.”) Fair, as Executive Vice President and Chief Financial Officer (“CFO”), effective January 1, 2017, subject to customary regulatory approvals. Mr. Fair, who has served as the Company's Executive Vice President, Chief Development Officer since 2014, will continue to report directly to Penn's Chief Executive Officer, Timothy J. Wilmott. Mr. Fair's appointment follows today's announced retirement at the end of this year of Saul V. Reibstein, who has served as Penn National's CFO since December 2013.

Mr. Reibstein will assume a transitional role with Penn National through mid-2017 to ensure a seamless transfer of his CFO responsibilities to Mr. Fair. In addition, the company announced that it has begun a search for a new Chief Development Officer. Prior to joining Penn National, B.J. Fair served for 30 years in executive management positions in the hospitality industry, overseeing the financial operations and large-scale development projects for leading public companies, including American Skiing Company, Universal Studios and Disney Development Company.

During his time at Penn National, Mr. Fair has played a significant role in overseeing and structuring the financing strategies for the Company's 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 Company's 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 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 activities.