Insider Trades - CRAMER HAROLD

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CRAMER HAROLD: Declared Holdings
Company/Relationship	Reported	Shares	Ownership
Penn National Gaming, Inc. Director NasdaqGS:PENN (historical quotes, profile, SEC, other insiders)	3-Jan-13	82,195	Direct

Insider & restricted shareholder transactions reported over the last two years
Date Shares Stock Transaction
3-Jan-13 4,013 PENN Option Exercise
3-Jan-13 4,013 PENN Disposition (Non Open Market) at $50.29 per share.
(Value of $201,813)
3-Jan-12 2,371 PENN Option Exercise
3-Jan-12 2,371 PENN Disposition (Non Open Market) at $38.07 per share.
(Value of $90,263)
15-Dec-11 15,000 PENN Option Exercise at $7.95 per share.
(Cost of $119,250)
15-Dec-11 15,000 PENN Sale at $35.69 per share.
(Proceeds of $535,350)

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Insider & restricted shareholder transactions reported over the last two years
Date	Shares	Stock	Transaction
3-Jan-13	4,013	PENN	Option Exercise
3-Jan-13	4,013	PENN	Disposition (Non Open Market) at $50.29 per share. (Value of $201,813)
3-Jan-12	2,371	PENN	Option Exercise
3-Jan-12	2,371	PENN	Disposition (Non Open Market) at $38.07 per share. (Value of $90,263)
15-Dec-11	15,000	PENN	Option Exercise at $7.95 per share. (Cost of $119,250)
15-Dec-11	15,000	PENN	Sale at $35.69 per share. (Proceeds of $535,350)