Pinnacle Entertainment's Baton Rouge, LA Project Wins Voter Approval

LAS VEGAS, Feb. 11 /PRNewswire-FirstCall/ -- Pinnacle Entertainment, Inc. (NYSE: PNK) today announced that voters in East Baton Rouge Parish approved the development and construction of Riviere, the Company's $250 million gaming entertainment complex that will be built on more than 550 acres the Company owns in Baton Rouge, Louisiana. The project requires adherence to certain conditions imposed by the Louisiana Gaming Control Board, which approved Pinnacle's plans for Riviere in September 2007.

The project, designed to be built in phases, features a world-class gaming resort. The first phase includes a state-of-the-art casino with approximately 1,500 slot machines and 50 table games. An adjoining hotel will offer visitors an atmosphere of casual elegance and comfort. An array of restaurants and lounges, ranging from simple to spectacular, will tempt guests with quality cuisine. Several of the restaurants will be located above the casino and will take advantage of the site's sweeping views of the Mississippi River. An entertainment venue will host an array of top-name entertainment, live music and other exciting attractions.

Future planned phases of Riviere include a residential community and additional hotel rooms. Planned recreation and leisure amenities include a full-service spa and health club; tennis club; equestrian center and riding trails; and a championship golf course, with the historic Longwood mansion serving as its clubhouse.

"We're extremely grateful to the people of Baton Rouge, who are allowing us to become a part of one of the most exciting and fastest-growing cities in the South," said Daniel R. Lee, Pinnacle Entertainment's Chairman and Chief Executive Officer. "We plan to generate 1,200 direct permanent jobs in Phase One alone, along with millions of dollars per year in incremental tax revenues for the State and Parishes of Louisiana.

"Our next steps will be to work with local and regional officials on a development agreement, and to move forward on other aspects of zoning, design, planning and safety. I would like to thank the voters of East Baton Rouge for the confidence that they have placed in us today. We look forward to creating a unique entertainment experience that will make all citizens of Baton Rouge proud."

About Pinnacle Entertainment

Pinnacle Entertainment, Inc. owns and operates casinos in Nevada, Louisiana, Indiana, Missouri, Argentina and The Bahamas, and has significant insurance claims related to a hurricane-damaged hotel and casino complex previously operated in Biloxi, Mississippi. The Company opened Lumiere Place, a $507 million casino hotel in downtown St. Louis, Missouri, in December 2007. Pinnacle also has a second casino development project under construction in the St. Louis area, which opening is dependent upon final approval by the Missouri Gaming Commission. Pinnacle is currently developing a second casino resort in Lake Charles, Louisiana, to be called Sugarcane Bay; developing a casino resort in Baton Rouge, Louisiana, to be called Riviere; and has submitted a proposal for a casino resort in Kansas City, Kansas, subject to various approvals. Additionally, Pinnacle owns a casino site at the heart of the famed Boardwalk in Atlantic City, New Jersey, on which it plans to build a major new casino resort.

All statements included in this press release, other than historical information or statements of historical fact, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements, including statements regarding the Company's future growth, anticipated completion and opening schedules of various projects, construction schedules and budgets and new development opportunities, are based on management's current expectations and are subject to risks, uncertainties and changes in circumstances that could significantly affect future results. Accordingly, Pinnacle cautions that the forward-looking statements contained herein are qualified by important factors that could cause actual results to differ materially from those reflected by such statements. Such factors include, but are not limited to: (a) the Company's substantial funding needs in connection with its development projects, current expansion projects and other capital-intensive projects will require it to raise substantial amounts of money from outside sources and, in the near term, the availability of financing may be constrained by current disruptions in the credit markets; (b) insufficient or lower-than-expected results generated from the Company's new developments and acquired properties, including results from the opening of its new facilities, may not yield an adequate return on its substantial investments; (c) many construction-related factors, including the escalation of construction costs beyond increments anticipated in its construction budgets, could prevent the Company from completing its construction and development projects within budget and on time; (d) the Company may not meet the conditions for receipt or maintenance of gaming licensing approvals, including for its St. Louis County, Sugarcane Bay and Baton Rouge projects, some of which are beyond its control; (e) because the Company has considerable leverage, future cash flows may not be sufficient to meet its financial obligations and the Company might have difficultly obtaining additional financing; (f) the terms of the Company's credit facility and the indentures governing its subordinated indebtedness impose operating and financial restrictions on the Company; and (g) other risks, including those as may be detailed from time to time in the Company's filings with the Securities and Exchange Commission ("SEC"). For more information on the potential factors that could affect the Company's financial results and business, review the Company's filings with the SEC, including, but not limited to, its Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q and its Current Reports on Form 8-K.

    For further information
    At Pinnacle Entertainment -- (702) 784-7777:

    Dan Lee, Chairman & CEO
    Wade Hundley, President
    Steve Capp, CFO
    Chris Plant or Lewis Fanger, Investor Relations