PENN NATL GAMING INC

Ticker: PENN CUSIP: 707569109 Class: Common Stock

Empyrean Capital Partners, LP's Holding History (CIK: 0001317195)

Note: Option positions (PUT/CALL) are excluded.

Q3 2013

Shares 975,000 Value ($000) $53,976 Avg Close $12.05 Range $11.01 - $12.99

Q2 2013

Shares 1,250,000 Value ($000) $66,150 Avg Close $12.65 Range $11.23 - $13.55

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2013	975,000	$53,976	$12.05	$11.01 - $12.99
Q2 2013	1,250,000	$66,150	$12.65	$11.23 - $13.55