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PlayandWin Inc. and Penn National Gaming Inc. Sign Definitive Deal for

28/11/2000

LAS VEGAS--(BUSINESS WIRE)--Nov. 28, 2000--PlayandWin Inc. (OTCBB: PWIN ) is pleased to announce a definitive deal with Penn National Racecourse, a wholly owned subsidiary of Penn National Gaming Inc. (Nasdaq: PENN ), wherein Penn National, subject to reg

LAS VEGAS--(BUSINESS WIRE)--Nov. 28, 2000--PlayandWin Inc. (OTCBB: PWIN ) is pleased to announce a definitive deal with Penn National Racecourse, a wholly owned subsidiary of Penn National Gaming Inc. (Nasdaq: PENN ), wherein Penn National, subject to regulatory approval, will act as a wagering hub for all hosting services for Racingo(R) in the United States. Penn National will host the bet at their facility, Penn National Race Course, Grantville, Pa., and will provide the accounting services and payments to tracks and winners and money room transfers. Stewart Garner, president of PlayandWin Inc., states, "This is the final piece of the pie required to sign up the racetracks. We have completed all presentations to the major players in the industry and are negotiating contracts with many of them. Penn, Autotote Systems Inc. and PWIN are presenting Racingo(R) to the balance of the industry in Arizona in early December."

William J. Bork, president and COO of Penn National Gaming Inc., announced, "We are now in the process of signing up a substantial amount of guest tracks. Frankly, we are extremely excited about the interest expressed concerning this new bet." PlayandWin Inc. holds the exclusive license to the Racingo(R) concept for the Internet as well as North American on- and off-track versions of Racingo(R). PlayandWin Inc. retains the right of first refusal to introduce the Racingo(R) concept to other countries and venues (i.e. cruise ship lines, airlines, Native American gaming and bingo) from Racingo Investments Ltd. PlayandWin Inc., through its 100% wholly owned subsidiary Lynx Gaming, is a partner in Racingo Investments Ltd. For more information about PlayandWin, please visit our Web site at www.playandwininc.com Racingo(R) combines the ease of bingo and the excitement of horse racing with lottery size jackpots. Racingo is a pari-mutuel, 'Bingo-type' proprietary game with the outcome based on a series of horse races, which is protected worldwide, by trademarks and patents. As in Bingo, Racingo(R) players bet to form a winning pattern on a grid. In Racingo(R), the winning numbers are determined by the outcome of horse or races. As per PlayandWin Inc.'s news release dated June 1, 2000, Autotote Systems Inc. and PlayandWin Inc. will cross-license their software and intellectual property rights respectively for the marketing of Racingo(R) at on-track and off-track betting facilities as well as Fantasy Racingo(R). The term of this contract is for five years with a further five-year renewal upon mutual consent. The multi-step rollout program will focus initially on the North American market with an expected launch date rescheduled for early 2001. Expansion into international and other gaming markets is envisioned upon the successful launch of the U.S. version of Racingo(R).
Autotote Corporation is the leading integrated supplier of instant tickets, systems and services to lotteries, the leading supplier of wagering systems and services to pari-mutuel operators, a leading supplier of pre-paid phone cards to telephone operators and is also a licensed pari-mutuel gaming operator in Connecticut, Holland and Germany. Autotote's customers are in the United States and more than 60 other countries. For more information about Autotote, please visit their Web site at www.autotote.com.

Penn National Gaming Inc. owns and operates two Mississippi casinos, the Casino Magic hotel, casino, golf resort and marina in Bay St. Louis, and the Boomtown Biloxi casino in Biloxi as well as three racetracks and 11 off-track wagering (OTW) facilities located in Pennsylvania (two tracks and 11 OTWs) and West Virginia (one track). The West Virginia track, Charles Town Races, presently features 1,500 slot machines which will be increased to 2,000 later this year. Penn National intends (subject to certain conditions) to complete its previously announced acquisition of CRC Holdings Inc. and the minority interest in Louisiana Casino Cruises Inc. (LCCI) not owned by CRC. LCCI owns and operates the Casino Rouge, a riverboat gaming facility in Baton Rouge, La., and CRC has a management contract for Casino Rama located in Canada on the Chippewas of Mnjikaning First Nation land.
This release includes projections of future results and "forward-looking statements" as that term is defined in Sections 27A of the Securities Act of 1933 as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934 as amended (the "Exchange Act"). All statements that are included in this release, other than statements of historical fact, are forward-looking statements. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Important factors that could cause actual results to differ materially from the expectations are disclosed in this release, including, without limitation, in conjunction with those forward-looking statements contained in this release. CONTACT: PlayandWin Inc.
Stewart Garner, 905/850-3940

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