<SEC-DOCUMENT>0001140361-22-000718.txt : 20220105
<SEC-HEADER>0001140361-22-000718.hdr.sgml : 20220105
<ACCEPTANCE-DATETIME>20220105181440
ACCESSION NUMBER:		0001140361-22-000718
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20220104
FILED AS OF DATE:		20220105
DATE AS OF CHANGE:		20220105

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			LaBombard Christine
		CENTRAL INDEX KEY:			0001761991

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-24206
		FILM NUMBER:		22512817

	MAIL ADDRESS:	
		STREET 1:		825 BERKSHIRE BOULEVARD
		CITY:			WYOMISSING
		STATE:			PA
		ZIP:			19610

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PENN NATIONAL GAMING INC
		CENTRAL INDEX KEY:			0000921738
		STANDARD INDUSTRIAL CLASSIFICATION:	HOTELS & MOTELS [7011]
		IRS NUMBER:				232234473
		STATE OF INCORPORATION:			PA
		FISCAL YEAR END:			1231

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

	MAIL ADDRESS:	
		STREET 1:		825 BERKSHIRE BLVD
		STREET 2:		SUITE 200
		CITY:			WYOMISSING
		STATE:			PA
		ZIP:			19610
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2022-01-04</periodOfReport>

    <issuer>
        <issuerCik>0000921738</issuerCik>
        <issuerName>PENN NATIONAL GAMING INC</issuerName>
        <issuerTradingSymbol>PENN</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001761991</rptOwnerCik>
            <rptOwnerName>LaBombard Christine</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>825 BERKSHIRE BLVD.</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 200</rptOwnerStreet2>
            <rptOwnerCity>WYOMISSING</rptOwnerCity>
            <rptOwnerState>PA</rptOwnerState>
            <rptOwnerZipCode>19610</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isOfficer>true</isOfficer>
            <officerTitle>SVP and CAO</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Options (Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>50.64</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2022-01-04</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>6457</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2032-01-04</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>6457</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>6457</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The stock options vest in four equal annual installments beginning on January 4, 2023.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Cameron Williams, Attorney-In-Fact for Christine LaBombard</signatureName>
        <signatureDate>2022-01-05</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-24.1
<SEQUENCE>2
<FILENAME>brhc10032398_ex24-1.htm
<DESCRIPTION>EXHIBIT 24.1
<TEXT>
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    <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 24.1</font>
      <div style="font-family: Arial; font-size: 9pt; text-align: left;">
        <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">POWER OF ATTORNEY</div>
        <div style="text-indent: 36pt; font-family: 'Times New Roman', serif; font-size: 12pt;"> <font style="font-family: 'Times New Roman'; font-size: 10pt;"><br>
          </font></div>
        <div style="text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Know all by these presents, that the undersigned hereby constitutes and appoints each of Jay A. Snowden, Felicia Hendrix, Harper Ko, and Cameron Williams, signing
          singly, the undersigned's true and lawful attorney-in-fact to:</div>
        <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br>
        </div>
        <div style="text-indent: 36pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(1)</font><font id="TRGRRTFtoHTMLTab" style="text-indent: 0px; font-size: 10pt; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">prepare, execute in the undersigned's name and on the undersigned's behalf, and submit to the U.S. Securities and Exchange Commission (the "SEC") a Form ID, including amendments thereto,
            and any other documents necessary or appropriate to obtain codes and passwords enabling the undersigned to make electronic filings with the SEC of reports required by the Securities Exchange Act of 1934 (including, but not limited to, Section
            16(a) and the rules thereunder), the Securities Act of 1933 (including, but not limited to, Rule 144 thereunder) or any rule or regulation of the SEC;</font></div>
        <div style="margin-bottom: 6pt; font-family: 'Times New Roman'; font-size: 10pt;"><br>
        </div>
        <div style="text-indent: 36pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(2)</font><font id="TRGRRTFtoHTMLTab" style="text-indent: 0px; font-size: 10pt; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">execute for and on behalf of the undersigned, in the undersigned's capacity as an officer and/or director of Penn National Gaming, Inc., a Pennsylvania corporation (the "Company"), Forms
            3, 4, and 5 in accordance with Section 16(a) of the Securities Exchange Act of 1934 and the rules thereunder, Form 144 in accordance with Rule 144 of the Securities Act of 1933 and any other forms or reports (including amendments thereto) the
            undersigned may be required to file in connection with the undersigned's ownership, acquisition, or disposition of securities of the Company;</font></div>
        <div style="margin-bottom: 6pt; font-family: 'Times New Roman'; font-size: 10pt;"><br>
        </div>
        <div style="text-indent: 36pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(3)</font><font id="TRGRRTFtoHTMLTab" style="text-indent: 0px; font-size: 10pt; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">do and perform any and all acts for and on behalf of the undersigned which may be necessary or desirable to complete and execute any such Form 3, 4, or 5, Form 144 or other form or report
            (including amendments thereto), and timely file such form, schedule or report with the SEC and any stock exchange or similar authority; and</font></div>
        <div style="margin-bottom: 6pt; font-family: 'Times New Roman'; font-size: 10pt;"><br>
        </div>
        <div style="text-indent: 36pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">(4)</font><font id="TRGRRTFtoHTMLTab" style="text-indent: 0px; font-size: 10pt; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">take any other action of any type whatsoever in connection with the foregoing which, in the opinion of such attorney-in-fact, may be of benefit to, in the best interest of, or legally
            required by, the undersigned, it being understood that the documents executed by such attorney-in-fact on behalf of the undersigned pursuant to this Power of Attorney shall be in such form and shall contain such terms and conditions as such
            attorney-in-fact may approve in such attorney-in-fact's discretion.</font></div>
        <div style="text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;"> <br>
        </div>
        <div style="text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">The undersigned hereby grants to each such attorney-in-fact full power and authority to do and perform any and every act and thing whatsoever requisite, necessary, or
          proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present, with full power of substitution or revocation, hereby ratifying and
          confirming all that such attorney-in-fact, or such attorney-in-fact's substitute or substitutes, shall lawfully do or cause to be done by virtue of this Power of Attorney and the rights and powers herein granted. The undersigned acknowledges that
          the foregoing attorneys-in-fact, in serving in such capacity at the request of the undersigned, are not assuming, nor is the Company assuming, any of the undersigned's responsibilities to comply with Section 16 of the Securities Exchange Act of
          1934 and rules thereunder, Rule 144 of the Securities Act of 1933.</div>
        <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br>
        </div>
        <div style="text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">This Power of Attorney shall remain in full force and effect until the undersigned is no longer required to file Forms 3, 4, and 5, and Form 144 (including amendments
          thereto) with respect to the undersigned's holdings of and transactions in securities issued by the Company, unless earlier revoked by the undersigned in a signed writing delivered to the foregoing attorneys-in-fact. This Power of Attorney
          revokes all previous powers of attorney with respect to the subject matter of this Power of Attorney.</div>
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        </div>
        <div style="text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to be executed as of 12/28/2021.</div>
        <div style="text-indent: 36pt; font-family: 'Times New Roman', serif; font-size: 12pt;"> <font style="font-family: 'Times New Roman'; font-size: 10pt;"><br>
          </font></div>
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              <td style="width: 42.73%; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</td>
              <td style="width: 57.27%; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">
                <div><u>/s/ Christine LaBombard</u></div>
              </td>
            </tr>
            <tr>
              <td style="width: 42.73%; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</td>
              <td style="width: 57.27%; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">
                <div>Signature</div>
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