0001047469-04-024427 Sample Contracts

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Supplemental Indenture • July 27th, 2004 • Hollywood Management Inc • Services-racing, including track operation • New York

THIS FIRST SUPPLEMENTAL INDENTURE (this "Supplemental Indenture"), dated as of July 19, 2004, among Penn National Gaming, Inc., a Pennsylvania corporation (the "Company"), the other Guarantors (as defined in the Indenture referred to herein) and U.S. Bank National Association, as trustee under this Indenture referred to below (the "Trustee").

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