theScore Bet Receives Certificate of Registration as an Internet Gaming Operator From the Alcohol and Gaming Commission of Ontario

- Certificate of Registration Satisfies Another Regulatory Requirement in Preparation for Offering Internet Sports Betting and iGaming in Ontario -

Penn National Gaming, Inc. (Nasdaq: PENN) (“Penn National” or the “Company”) is pleased to announce that its subsidiary, Score Digital Sports Ventures (Canada) Inc. (“theScore Bet”), has achieved registration as an internet gaming operator with the Alcohol and Gaming Commission of Ontario (AGCO).

“We’re thrilled to be one of the first operators to receive an internet gaming operator certificate of registration from the AGCO as we prepare for Ontario’s new regulated market,” said John Levy, CEO, theScore. “We’ve been and will continue to be at the forefront as regulated internet gaming is introduced in Ontario and are beyond excited to be able to bring theScore Bet to our home market on April 4. Finally, the countdown to launch has begun.”

theScore Bet was the first prospective operator in Ontario to secure Gaming Labs International certification for Ontario, evidencing gaming platform compliance with the Registrar’s Standards for Internet Gaming, as well as RG Check iGaming Accreditation from the Responsible Gambling Council (RGC). Prior to launching its internet gaming services on April 4, theScore Bet must satisfy all remaining regulatory requirements and execute an operating agreement with iGaming Ontario.

​​About Penn National Gaming

With the nation's largest and most diversified regional gaming footprint, including 44 properties across 20 states, Penn National is a highly innovative omni-channel provider of retail and online gaming, live racing and sports betting entertainment. Our wholly-owned interactive division, Penn Interactive, operates retail sports betting across the Company's portfolio, as well as online social casino, bingo, and iCasino products. In February 2020, Penn National entered into a strategic partnership with Barstool Sports, whereby Barstool is exclusively promoting the Company's land-based and online casinos and sports betting products, including the Barstool Sportsbook mobile app, to its national audience. In addition, in October 2021, Penn National acquired Score Media and Gaming, Inc. (“theScore”). Combined with the power of Barstool Sports and theScore, Penn National has become North America’s leading digital, entertainment, sports content, gaming and technology company. The Company's omni-channel approach is further bolstered by its mychoice loyalty program, which rewards and recognizes its over 24 million members for their loyalty to both retail and online gaming and sports betting products with the most dynamic set of offers, experiences, and service levels in the industry.

About theScore

theScore, a wholly-owned subsidiary of Penn National Gaming, empowers millions of sports fans through its digital media and sports betting products. Its media app ‘theScore’ is one of the most popular in North America, delivering fans highly personalized live scores, news, stats, and betting information from their favorite teams, leagues, and players. theScore’s sports betting app ‘theScore Bet’ delivers an immersive and holistic mobile sports betting experience and is currently available to place wagers in New Jersey, Colorado, Indiana and Iowa. theScore also creates and distributes innovative digital content through its web, social and esports platforms.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward-looking terminology such as “expects,” “believes,” “estimates,” “projects,” “intends,” “plans,” “goal,” “seeks,” “may,” “will,” “should,” or “anticipates” or the negative or other variations of these or similar words, or by discussions of future events, strategies or risks and uncertainties. Specifically, forward-looking statements include, but are not limited to, statements regarding the expected commencement of regulated online iGaming and sports betting in the Province of Ontario and theScore Bet’s offering of the same. Such statements are all subject to risks, uncertainties and changes in circumstances that could significantly affect the Company’s future financial results and business. Accordingly, the Company cautions that the forward-looking statements contained herein are qualified by important factors that could cause actual results to differ materially from those reflected by such statements. Such factors include, but are not limited to: (a) the ongoing impact of the COVID-19 pandemic on general economic conditions, capital markets, unemployment, consumer spending and the Company’s liquidity, financial condition, supply chain, operations and personnel; and (b) other factors as discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, each as filed with the U.S. Securities and Exchange Commission. The Company does not intend to update publicly any forward-looking statements except as required by law. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release may not occur.

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