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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 V2ngJIun0lCIvGRvyl0sqy2n/6Be0pruomJMoTuHBvaADLf39P6Dhmk5QoE9lHVP
 wJeHnOZ+PoXBmH2dI+q6wQ==

<SEC-DOCUMENT>/in/edgar/work/0000921738-00-000066/0000921738-00-000066.txt : 20001114
<SEC-HEADER>0000921738-00-000066.hdr.sgml : 20001114
ACCESSION NUMBER:		0000921738-00-000066
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20001031
FILED AS OF DATE:		20001113

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PENN NATIONAL GAMING INC
		CENTRAL INDEX KEY:			0000921738
		STANDARD INDUSTRIAL CLASSIFICATION:	 [7948
]		IRS NUMBER:				232234473
		STATE OF INCORPORATION:			PA
		FISCAL YEAR END:			1231
</COMPANY-DATA>

		FILING VALUES:
			FORM TYPE:		4
			SEC ACT:		
			SEC FILE NUMBER:	000-24206
			FILM NUMBER:		757816
</FILING-VALUES>

			BUSINESS ADDRESS:	
				STREET 1:		825 BERKSHIRE BLVD STE 200
				STREET 2:		WYOMISSING PROFESSIONAL CENTER
				CITY:			WYOMISSING
				STATE:			PA
				ZIP:			19610
				BUSINESS PHONE:		6103732400
</BUSINESS-ADDRESS>

				MAIL ADDRESS:	
					STREET 1:		825 BERSHIRE BLVD
					STREET 2:		SUITE 200
					CITY:			WYOMISSING
					STATE:			PA
					ZIP:			19610
</MAIL-ADDRESS>
</SUBJECT-COMPANY>
<REPORTING-OWNER>

					COMPANY DATA:	
						COMPANY CONFORMED NAME:			PENN NATIONAL GAMING INC
						CENTRAL INDEX KEY:			0000921738
						STANDARD INDUSTRIAL CLASSIFICATION:	 [7948
]<RELATIONSHIP>OFFICER
						IRS NUMBER:				232234473
						STATE OF INCORPORATION:			PA
						FISCAL YEAR END:			1231
</COMPANY-DATA>

						FILING VALUES:
							FORM TYPE:		4
</FILING-VALUES>

							BUSINESS ADDRESS:	
								STREET 1:		825 BERKSHIRE BLVD STE 200
								STREET 2:		WYOMISSING PROFESSIONAL CENTER
								CITY:			WYOMISSING
								STATE:			PA
								ZIP:			19610
								BUSINESS PHONE:		6103732400
</BUSINESS-ADDRESS>

								MAIL ADDRESS:	
									STREET 1:		825 BERSHIRE BLVD
									STREET 2:		SUITE 200
									CITY:			WYOMISSING
									STATE:			PA
									ZIP:			19610
</MAIL-ADDRESS>
</REPORTING-OWNER>
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>0001.txt
<DESCRIPTION>FORM 4 - 10/31/00
<TEXT>

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
[ ] Check box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person
   Lashinger  Jr., Joseph    A
   115 Spyglass Rd
   Blue Bell, Pa  19422
2. Issuer Name and Ticker or Trading Symbol
   Penn National Gaming, Inc. PENN
3. IRS Identification Number of Reporting Person, if an entity (voluntary)

4. Statement for Month/Year
   10/31/00
5. If Amendment, Date of Original (Month/Day/Year)

6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
   ( ) Director  ( ) 10% Owner (x) Officer (give title below)
   ( ) Other (specify below)
   Vice President General Counsel
7. Individual or Joint/Group Filing (Check applicable line)
   (x) Form Filed by One Reporting Person
   ( ) Form Filed by More than One Reporting Person
<TABLE>
<CAPTION>
___________________________________________________________________________________________________________________________________
 Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned                                                 |
___________________________________________________________________________________________________________________________________|
1. Title of Security       |2.    |3.    |4.Securities Acquired (A)         |5.Amount of        |6.Dir |7.Nature of Indirect       |
                           | Transaction |  or Disposed of (D)              |  Securities       |ect   |  Beneficial Ownership     |
                           |      |      |                                  |  Beneficially     |(D)or |                           |
                           |      |    | |                  | A/|           |  Owned at         |Indir |                           |
                           | Date |Code|V|    Amount        | D |    Price  |  End of Year      |ect(I)|                           |
___________________________________________________________________________________________________________________________________|
<S>                        <C>    <C>  <C><C>               <C> <C>         <C>                 <C>    <C>
Common Stock               |10/30/|M   | |12500             |A  |11.5       |                   |      |                           |
                           |00    |    | |                  |   |           |                   |      |                           |
- -----------------------------------------------------------------------------------------------------------------------------------|
Common Stock               |10/30/|M   | |2500              |A  |6.438      |                   |      |                           |
                           |00    |    | |                  |   |           |                   |      |                           |
- -----------------------------------------------------------------------------------------------------------------------------------|
Common Stock               |10/30/|M   | |2500              |A  |6.875      |                   |      |                           |
                           |00    |    | |                  |   |           |                   |      |                           |
- -----------------------------------------------------------------------------------------------------------------------------------|
Common Stock               |10/30/|S   | |7500              |D  |17.7125    |                   |      |                           |
                           |00    |    | |                  |   |           |                   |      |                           |
- -----------------------------------------------------------------------------------------------------------------------------------|
Common Stock               |10/31/|S   | |10000             |D  |18.0875    |                   |      |                           |
                           |00    |    | |                  |   |           |                   |      |                           |
- -----------------------------------------------------------------------------------------------------------------------------------|
<CAPTION>
___________________________________________________________________________________________________________________________________
 Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned                                                   |
___________________________________________________________________________________________________________________________________|
1.Title of Derivative |2.Con-  |3.   |4.    |5.Number of De |6.Date Exer|7.Title and Amount  |8.Price|9.Number    |10.|11.Nature of|
  Security            |version |Transaction | rivative Secu |cisable and|  of Underlying     |of Deri|of Deriva   |Dir|Indirect    |
                      |or Exer |     |      | rities Acqui  |Expiration |  Securities        |vative |tive        |ect|Beneficial  |
                      |cise    |     |      | red(A) or Dis |Date(Month/|                    |Secu   |Securities  |(D)|Ownership   |
                      |Price of|     |      | posed of(D)   |Day/Year)  |                    |rity   |Benefi      |or |            |
                      |Deriva- |     |      |               |Date |Expir|                    |       |ficially    |Ind|            |
                      |tive    |     |      |           | A/|Exer-|ation|   Title and Number |       |Owned at    |ire|            |
                      |Secu-   |     |    | |           | D |cisa-|Date |   of Shares        |       |End of      |ct |            |
                      |rity    |Date |Code|V|  Amount   |   |ble  |     |                    |       |Year        |(I)|            |
___________________________________________________________________________________________________________________________________|
<S>                   <C>      <C>   <C>  <C><C>        <C> <C>   <C>   <C>          <C>     <C>     <C>          <C> <C>
Stock Options, (right |11.5    |10/30|M   | |           |125|11/17|11/17|Common Stock|12500  |       |12500       |D  |            |
to buy)               |        |/00  |    | |           |00 |/98  |/04  |            |       |       |            |   |            |
- -----------------------------------------------------------------------------------------------------------------------------------|
Stock Options, (right |6.438   |10/30|M   | |           |250|8/6/9|8/6/0|Common Stock|2500   |       |2500        |D  |            |
to buy)               |        |/00  |    | |           |0  |9    |5    |            |       |       |            |   |            |
- -----------------------------------------------------------------------------------------------------------------------------------|
Stock Options, (right |6.875   |10/30|M   | |           |250|1/4/0|1/4/0|Common Stock|2500   |       |7500        |D  |            |
to buy)               |        |/00  |    | |           |0  |0    |6    |            |       |       |            |   |            |
- -----------------------------------------------------------------------------------------------------------------------------------|
Stock Options, (right |        |     |    | |           |   |2/8/0|2/8/0|Common Stock|       |       |15000       |D  |            |
to buy)               |        |     |    | |           |   |1    |7    |            |       |       |            |   |            |
- -----------------------------------------------------------------------------------------------------------------------------------|
</TABLE>

/s/ Joseph A. Lashinger Jr.
SIGNATURE OF REPORTING PERSON
/Signature/
Joseph A. Lashinger Jr.
DATE
11/10/00

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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