WASHINGTON – Penn National Gaming Inc. said Wednesday that it has identified four potential material weaknesses in its accounting controls.

The Wyomissing, Pa., owner and operator of casinos and horse racetracks said in a regulatory filing with the Securities and Exchange Commission that it is reviewing its internal controls.

Penn National, which is seeking to open a casino at the Bangor Raceway in Maine, said it doesn’t believe that any of the potential deficiencies will result in changes to previously announced financial reports for last year.

On Wednesday, spokesman Eric Schippers said the issue had “no bearing whatsoever” on Penn’s plans to develop a $75 million gaming complex at Bangor Raceway.

Penn National Gaming said Wednesday that it identified some deficiencies regarding an account it maintains for the benefit of the horsemen at its Charles Town, W.Va., facility and has taken steps to remedy the situation.

The company also said there are possible issues regarding inadequate documentation of controls over some transaction procedures.

Also, Penn National said some responses from an employee survey indicate that some deficiencies may exist.

The company said the chief financial officer of its Charles Town unit resigned shortly before Thanksgiving, and there may be inadequate documentation to confirm that the 2004 financial statements at that unit were reviewed by the general manager and assistant general manager.

The filing said Penn National Gaming hasn’t determined yet whether any of the deficiencies constitutes a “material weakness” under the rules of the Public Company Accounting Oversight Board.

Penn National Gaming said it would report its conclusions from its evaluation regarding potential weaknesses in its 2004 annual report with the SEC.

Penn National Gaming’s shares fell $1.26 Thursday, or 4.2 percent, to close at $28.74 on the Nasdaq Stock Market.