Penn National Gaming, Inc. (PENN: Nasdaq) (“Penn National” or the “Company”) announced today the launch of the Harold Cramer Memorial Scholarship Program at the University of Pennsylvania Carey Law School (“the Law School”). The gift, which is a multi-year $100,000 commitment and scholarship program, will support the Law School’s Post-9/11 GI Bill^® Yellow Ribbon Program that provides financial assistance to veterans pursuing a Juris Doctor degree.

The Yellow Ribbon Program is a provision of the Post-9/11 Veterans Educational Assistance Act of 2008 under which the Department of Veterans Affairs matches school aid contributions made to eligible veterans. In recognition of the importance of service, the Law School has created a learning environment that is ideal for students who seek a career in public service and supports the unique perspective of law students who have served in the military. It provides support to students making the transition from military to civilian life and encourages those with service backgrounds to apply.

“We are proud to establish the Harold Cramer Memorial Scholarship Program in honor of one of Penn National Gaming’s original and most beloved Board members,” said Jay Snowden, President and CEO of Penn National Gaming. “As a distinguished veteran, past president of the Law School’s Alumni Society and a longtime generous benefactor to the Law School, Harold would have loved this program which will enable other young veterans to pursue a law degree at his Alma Mater.”

Mr. Cramer was a member of the Law School’s Class of 1951. Upon graduation, he was drafted into the U.S. Army and was sent to Korea as a commissioned officer. He later attended the Judge Advocate General’s School and became the chief prosecutor for the Eighth Army in Korea. He was ultimately awarded the Bronze Star for his service, as well as the Korean Service Medal with three battle stars, the United Nations Korean Medal, National Defense Medal and twice received the Korean Presidential Unit Citation.

“The Harold Cramer Memorial Scholarship Program underlines the Law School’s continued commitment to support those who engaged in military service,” said Law School Dean Ted Ruger. “Harold Cramer was a giant in his field, and I can think of no better way to honor his legacy by supporting veterans who desire to pursue a degree at the University of Pennsylvania Carey Law School.”

“Supporting our nation’s heroes is a personal passion of mine and it’s one of our Company’s top priorities, which extends to our recruitment efforts, team member recognition and ongoing charitable and community support,” continued Mr. Snowden. “In addition to the Harold Cramer Memorial Scholarship Program, earlier this year we launched the U.S. Chamber of Commerce Foundation’s ‘Hiring Our Heroes’ initiative, which connects veterans, service members, and military spouses with meaningful employment opportunities,” said Mr. Snowden. “We are committed to identifying and hiring full-time team members through this program to further unite the military community with our company in order to create economic opportunity and a stronger, more diversified workforce.”

“Penn National is also proud to spotlight our team members who served in the military through heart-of-house ‘Honor Wall’ displays and in our Company newsletter,” said Mr. Snowden. “In addition, we recently launched a new initiative to honor our active- duty military, veterans and first responders. The ‘myheroes’ program is a fully integrated extension of our mychoice rewards loyalty program, which will provide our nation’s heroes access to exclusive discounts and offers at Penn National’s 41 properties in 19 states. Finally, our Penn National Gaming Foundation and our properties around the country are proud to support numerous local non-profit organizations serving our veterans and active service members,” concluded Mr. Snowden.

About Penn National Gaming

With the nation's largest and most diversified regional gaming footprint, including 41 properties across 19 states, Penn National continues to evolve into a highly innovative omni-channel provider of retail and online gaming, live racing and sports betting entertainment. The Company's properties feature approximately 50,000 gaming machines, 1,300 table games and 8,800 hotel rooms, and operate under various well-known brands, including Hollywood, Ameristar, and L'Auberge. Our wholly-owned interactive division, Penn Interactive, operates retail sports betting across the Company's portfolio, as well 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. The Company's omni-channel approach is bolstered by the mychoice loyalty program, which rewards and recognizes its over 20 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 The University of Pennsylvania Carey Law School

The University of Pennsylvania Carey Law School was established in 1850. Since that time, the Law School at Penn has been at the forefront of legal education. Today the hallmarks of the University of Pennsylvania Carey Law School experience are a cross-disciplinary, globally-focused legal education, and vibrant, collegial community. The Law School prepares graduates to navigate an increasingly complex world as leaders and influential decision-makers in the law and related fields.

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