In his new position, DeAngelo will be responsible for working with Penn National's property General Managers in overseeing all operating functions at the Company's six dockside gaming facilities, pari-mutuel horse racing facility with slots, land-based casino, and Canadian casino management contract in areas such as slot and table operations, casino administration and credits, budgets, regulatory affairs and marketing. DeAngelo will report directly to Penn National President and Chief Operating Officer, Kevin DeSanctis. Leonard DeAngelo brings over 23 years of gaming industry and hotel and restaurant management experience to his new position as Executive Vice President of Operations. Prior to joining Penn National, Len served as President of The Atlantic City Hilton Casino Resort, which generates nearly $400 million in annual revenues and employs over 3,000 people. Under his leadership, and during the recent economic decline, The Atlantic City Hilton Casino Resort maintained record levels of profitability through selective cost control, innovative target marketing and the initiation of prudent capital expenditure projects. The Atlantic City Hilton property leads the market in total gaming revenue per square foot of casino space and during the first five months of 2003 it achieved the second highest revenue growth in the market. Prior to being named President of the Atlantic City Hilton, Len DeAngelo served as a Corporate Senior Vice President of Casino Marketing with Sun International. In this capacity, he created and managed the Casino Marketing National Branch Office network in support of the Atlantis, Paradise Island property in the Bahamas and the Resorts International operations in Atlantic City. He was also responsible for information technology initiatives relating to the casinos, including operations, marketing, data warehousing and online projects. Len DeAngelo's other senior level gaming and hotel industry experience includes serving as President of the Sands Hotel and Casino in Atlantic City, NJ from November 1995 to December 1997. In addition to managing the operation of the casino hotel, Len DeAngelo was responsible for all regulatory and compliance issues, capital budgets and future development strategies. He served with the Sands in other executive positions beginning in 1983, holding the titles of Director of Casino Administration, Vice President Casino Administration and Senior Vice President before being named President. He began his career in the gaming and hotel industry in 1979 at Bally's Park Place Hotel and Casino in Atlantic City. Leonard DeAngelo earned a Masters of Business Administration degree, with a concentration in investment management, financial analysis and information systems, from the Wharton Business School at the University of Pennsylvania. He graduated with a degree in Mechanical Engineering from Carnegie-Mellon University in Pittsburgh.