PENN NATIONAL GAMING INC
EXHIBIT 10.45
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<DESCRIPTION>EXHIBIT 10.45
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<P ALIGN="RIGHT"><FONT SIZE=2><A
NAME="ke1072_exhibit_10.45"> </A>
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<BR></FONT><FONT SIZE=2><B>Exhibit 10.45    <BR>  </B></FONT></P>

<P><FONT SIZE=2>notice
shall be sent to: </FONT></P>

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<TD WIDTH="13%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="32%"><FONT SIZE=2>PNGI Charles Town Gaming: Limited Liability Company<BR>
Address:</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="50%"><FONT SIZE=2>James Buchanan, President<BR>
P.O. Box 551<BR>
Charles Town, WV 25414</FONT></TD>
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<TD WIDTH="13%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="32%"><FONT SIZE=2><BR>
Copy to:</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="50%"><FONT SIZE=2><BR>
Kevin De Sanctis, President<BR>
c/o Penn National Gaming, Inc.<BR>
Wyomissing Professional Center<BR>
825 Berkshir0e Blvd., Suite 203<BR>
Wyomissing, PA 19610</FONT></TD>
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<TR VALIGN="TOP">
<TD WIDTH="13%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="32%"><FONT SIZE=2><BR>
Copy to:</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="50%"><FONT SIZE=2><BR>
Robert P. Krauss, Esquire<BR>
Mesirov, Gelman, Jaffe, Cramer &amp; Jamieson<BR>
1735 Market Street<BR>
Philadelphia, PA 19103-7598</FONT></TD>
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<TD WIDTH="13%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="32%"><FONT SIZE=2><BR>
Charles Town HBPA, Inc.:<BR>
Address</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="50%"><FONT SIZE=2><BR>
Richard C. Watson, President<BR>
c/o Charles Town H.B.P.A., Inc.<BR>
P.O. Box 581<BR>
Charles Town, WV 25414</FONT></TD>
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<TD WIDTH="13%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="32%"><FONT SIZE=2><BR>
Copy to:</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="50%"><FONT SIZE=2><BR>
Clarence E. Martin, III, Esquire<BR>
Martin &amp; Seibert, L.C.<BR>
1164 Winchester Avenue<BR>
Martinsburg, West Virginia 25402</FONT></TD>
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<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>WHEREAS</B></FONT><FONT SIZE=2>, the HBPA and Charles Town Races wish to extend that Agreement as amended herein as it relates to Paragraph&nbsp;21. </FONT> <FONT SIZE=2><I>Notices,</I></FONT><FONT SIZE=2> until the 30<SUP>th</SUP> day of
September, 2003; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>NOW, THEREFORE</B></FONT><FONT SIZE=2>, in consideration of the premises and the mutual covenants contained herein, the parties do hereby agree to extend that
Agreement dated the 7<SUP>th</SUP> day of May, 1997 until the 30<SUP>th</SUP> day of September, 2003. </FONT></P>

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<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WITNESS
the following signatures and seals as of the day and date above first written. </FONT></P>

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<TD COLSPAN=2><FONT SIZE=2><B>PNGI CHARLES TOWN GAMING<BR>
LIMITED LIABILITY COMPANY, </B></FONT><FONT SIZE=2>a<BR>
West Virginia Limited Liability Company</FONT></TD>
</TR>
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<TD WIDTH="39%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2><BR>
By:</FONT></TD>
<TD WIDTH="54%"><FONT SIZE=2><BR>
/s/&nbsp;&nbsp;</FONT><FONT SIZE=2>JAMES BUCHANAN</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> James Buchanan, its President</FONT></TD>
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<TD WIDTH="39%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD COLSPAN=2><BR><FONT SIZE=2><B>PENN NATIONAL GAMING OF WEST<BR>
VIRGINIA,&nbsp;INC., </B></FONT><FONT SIZE=2>a West Virginia<BR>
Corporation, Managing Member of PNGI<BR>
Charles Town Gaming Limited Liability<BR>
Company</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="39%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2><BR>
By:</FONT></TD>
<TD WIDTH="54%"><FONT SIZE=2><BR>
/s/&nbsp;&nbsp;</FONT><FONT SIZE=2>KEVIN DE SANCTIS</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Kevin De Sanctis, its President</FONT></TD>
</TR>
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<TD WIDTH="39%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD COLSPAN=2><BR><FONT SIZE=2><B>CHARLES TOWN H.B.P.A.,&nbsp;INC.,<BR> </B></FONT><FONT SIZE=2>a West Virginia Corporation</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="39%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2><BR>
By:</FONT></TD>
<TD WIDTH="54%"><FONT SIZE=2><BR>
/s/&nbsp;&nbsp;</FONT><FONT SIZE=2>RICHARD C. WATSON</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Richard C. Watson, its President</FONT></TD>
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<P ALIGN="CENTER"><FONT SIZE=2>2</FONT></P>

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<P><FONT SIZE=2>STATE
OF WEST VIRGINIA </FONT></P>

<P><FONT SIZE=2>COUNTY
OF JEFFERSON, to-wit: </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I,
</FONT><FONT SIZE=2><I>Margaret A. Fineagan</I></FONT><FONT SIZE=2>, a notary public for the County/City and State aforesaid, certify that </FONT><FONT SIZE=2><I>Richard C.
Watson</I></FONT><FONT SIZE=2>, whose name is signed to the foregoing as President of </FONT><FONT SIZE=2><B>THE CHARLES TOWN H.B.P.A., INC</B></FONT><FONT SIZE=2>., a West Virginia Corporation,
dated the </FONT><FONT SIZE=2><I>20th</I></FONT><FONT SIZE=2> day of December, 2002 acknowledged the same on behalf of the Corporation before me in the County/City aforesaid. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Given
under my hand and official seal this </FONT><FONT SIZE=2><I>20th</I></FONT><FONT SIZE=2> day of December, 2002. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>Notary
Public </FONT></P>

<P><FONT SIZE=2>My
commission expires on </FONT><FONT SIZE=2><I>July&nbsp;21, 2012</I></FONT><FONT SIZE=2>. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[OFFICIAL
SEAL] </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>3</FONT></P>

<HR NOSHADE>
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<P><FONT SIZE=2>STATE
OF WEST VIRGINIA </FONT></P>

<P><FONT SIZE=2>COUNTY
OF JEFFERSON, to-wit: </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I,
</FONT><FONT SIZE=2><I>Margaret A. Fineagan</I></FONT><FONT SIZE=2>, a notary public for the County/City and State aforesaid, certify that </FONT><FONT SIZE=2><I>James
Buchanan</I></FONT><FONT SIZE=2>, whose name is signed to the foregoing as President of </FONT><FONT SIZE=2><B>PNGI CHARLES TOWN GAMING LIMITED LIABILITY COMPANY</B></FONT><FONT SIZE=2>, a West
Virginia Limited Liability Company, dated the </FONT><FONT SIZE=2><I>7th</I></FONT><FONT SIZE=2> day of January, 2003 acknowledged the same on behalf of the Limited Liability Company before me in the
County/City aforesaid. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Given
under my hand and official seal this 7<SUP>th</SUP> day of January, 2003. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>Notary
Public </FONT></P>

<P><FONT SIZE=2>My
commission expires on </FONT><FONT SIZE=2><I>June&nbsp;21, 2012</I></FONT><FONT
SIZE=2>.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[OFFICIAL SEAL] </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
<BR> </FONT></P>

<P><FONT SIZE=2>STATE
OF WEST VIRGINIA </FONT></P>

<P><FONT SIZE=2>COUNTY
OF JEFFERSON, to-wit: </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I,
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>, a notary public for the County/City and State aforesaid, certify that
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>, whose name is signed
to the foregoing as President of </FONT><FONT SIZE=2><B>PENN NATIONAL GAMING OF WEST VIRGINIA, INC</B></FONT><FONT SIZE=2>., a West Virginia Corporation, Managing Partner of </FONT> <FONT SIZE=2><B>PNGI CHARLES TOWN GAMING LIMITED LIABILITY
COMPANY</B></FONT><FONT SIZE=2>, a West Virginia Corporation, a West Virginia Limited Liability Company, dated the
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> day of December, 2002 acknowledged the same on behalf of the Limited Liability Company before me in the County/City aforesaid. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Given
under my hand and official seal this <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> day of December, 2002. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>Notary
Public </FONT></P>

<P><FONT SIZE=2>My
commission expires on <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>4</FONT></P>

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