Penn National Gaming, Inc.

On May 3, 2022, KeyBanc Capital Markets (KBCM) successfully closed on the syndication of $2.55 billion of Senior Secured Credit Facilities (the Facilities) for Penn National Gaming, Inc. (Penn National or the Company). The Facilities consist of a $1 billion Revolving Credit Facility, a $550 million Term Loan A Facility and a $1 billion Term Loan B Facility. Proceeds from the Facilities will be used to refinance existing indebtedness. KBCM acted as Joint Lead Arranger and Co-Documentation Agent on the transaction.

Penn National Gaming, Inc. (Nasdaq: PENN) is North America’s leading provider of integrated entertainment, sports content and casino gaming experiences. A member of the S&P 500®, Penn operates 44 properties in 20 states, online sports betting in 13 jurisdictions and iCasino in five under a portfolio of well-recognized brands including Hollywood Casino®, L’Auberge®, Barstool Sportsbook® and theScore Bet®. Penn’s highly differentiated strategy, which is focused on organic cross-sell opportunities, is reinforced by its investments in owned technology, including a state-of-the-art media and betting platform and an in-house iCasino content studio. The Company’s portfolio is further bolstered by its industry-leading mychoice customer loyalty program, which offers its over 25 million members a unique set of rewards and experiences across business channels. Penn is deeply committed to fostering a culture that welcomes a diverse set of customers and dedicated team members . The Company has been consistently ranked in the top two as “Employer of First Choice” over the last nine years in the Bristol Associates - Spectrum Gaming’s Executive Satisfaction Survey. In addition, as a long- standing good corporate citizen, Penn is also committed to being a trusted and valued member of its communities and a responsible steward of our finite natural resources.