LAS VEGAS, July 27 /PRNewswire-FirstCall/ -- Pinnacle Entertainment, Inc. (NYSE:PNK) announced that it (the "Company") intends to commence a cash tender offer for any and all of its outstanding 8.75% Senior Subordinated Notes due 2013 (the "Notes"). The consideration to be paid for validly tendered Notes will be equal to either $1,031.67 per $1,000 principal amount of such Notes (the "Total Consideration"), which includes an early tender premium of $31.67 per $1,000 principal amount of Notes, payable for Notes tendered on or prior to the early tender date; or $1,000 per $1,000 principal amount of such Notes (the "Purchase Price") for Notes tendered after the early tender date and on or prior to the expiration date. The aggregate principal amount of Notes currently outstanding is $135 million. The Company intends to fund the tender offer through a debt financing. The early tender date is 12:00 midnight, New York City time, on Friday, August 7, 2009, unless extended or earlier terminated. Tendered Notes may not be withdrawn after the early tender date except as required by applicable law. The tender offer will expire at 11:00 a.m., New York City time, on Monday, August 24, 2009, unless extended or earlier terminated. Holders whose Notes are validly tendered and accepted for purchase will be paid accrued and unpaid interest to, but not including, the day the Company deposits with the depositary funds sufficient to purchase Notes accepted in the tender offer. The Company's obligation to accept Notes tendered and to pay the Total Consideration or the Purchase Price, as applicable, is subject to a number of conditions that are set forth in the Offer to Purchase and the Letter of Transmittal for the tender offer, including the completion of the proposed debt financing. J.P. Morgan and BofA Merrill Lynch have been retained as the dealer managers for the tender offer. Questions concerning the terms of the tender offer should be directed to J.P. Morgan, Liability Management, at (800) 245-8812, and BofA Merrill Lynch, Debt Advisory Services, at (888) 292-0070 (toll free) or (980) 387-4536 (collect). The Bank of New York Mellon Trust Company, N.A. is the depositary agent in connection with the tender offer. D.F. King & Co., Inc. is the information agent for the tender offer. Requests for copies of the Offer to Purchase and Letter of Transmittal should be directed to the information agent at (800) 758-5378. The complete terms and conditions of the tender offer are set forth in the Offer to Purchase and Letter of Transmittal that will be mailed to holders of the Notes. Holders of the Notes are urged to read the tender offer documents carefully because they contain important information. About Pinnacle Entertainment Pinnacle Entertainment owns and operates casinos in Nevada, Louisiana, Indiana, Missouri and Argentina. The Company has a second casino development project under construction in the St. Louis area, to be called River City, the opening of which is dependent upon final approval by the Missouri Gaming Commission. Pinnacle is also developing a second casino resort in Lake Charles, Louisiana, to be called Sugarcane Bay, and a casino resort in Baton Rouge, Louisiana. Additionally, Pinnacle owns a casino site at the heart of the Boardwalk in Atlantic City, New Jersey. DATASOURCE: Pinnacle Entertainment, Inc. CONTACT: Dan Lee - Chairman & CEO, Steve Capp - CFO, Carlos Ruisanchez - Strategic Planning, Chris Plant or Lewis Fanger - Investor Relations, Pauline Yoshihashi - Media, all of Pinnacle Entertainment, +1-702-784-7777 Web Site: http://www.pnkinc.com/

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