St. Louis County Casino Opening Moved to Early March, Subject to Regulatory Approval LAS VEGAS, Dec. 14 /PRNewswire-FirstCall/ -- Pinnacle Entertainment, Inc. (NYSE:PNK) today announced that the opening date for its River City® casino project in south St. Louis County, Missouri has been moved up to early March 2010, subject to final regulatory approval by the Missouri Gaming Commission. Previously, the opening had been slated for spring 2010. Located in the south St. Louis County community of Lemay, River City will include a 90,000-square-foot casino with more than 2,000 slot machines and approximately 55 table games. This exciting suburban entertainment center also will feature a variety of dining options, including the award-winning Jeff Ruby's Steakhouse; a buffet with seating for more than 350; a tavern; a contemporary café; and a classic burger joint. River City represents a cash investment of approximately $357 million, plus capitalized interest in the mid-$20 million range, non-cash rent and operating cash. The project has generated approximately 600 construction-phase jobs and is expected to create more than 1,000 permanent jobs for the region. "We're pleased to be opening the doors of River City in early March 2010, less than three months from now," said John Giovenco, Pinnacle's interim chief executive officer. "River City will bring a new level of entertainment to south St. Louis County, and will now be welcoming guests and generating tax revenues sooner than originally anticipated. Along with Lumiere Place, its sister property in downtown St. Louis, River City represents a major investment in the future of the St. Louis area." About Pinnacle Entertainment Pinnacle Entertainment, Inc. owns and operates casinos in Nevada, Louisiana, Indiana, Missouri and Argentina. Pinnacle has a second casino development project under construction in the St. Louis area, to be called River City, which opening 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 at L'Auberge du Lac, 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. 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 River City casino project, such as statements regarding the facilities, features and amenities of the project; the potential job creation and potential tax revenues as a result of the project; anticipated milestones, completion dates and opening dates of the project; and the construction schedule, budget, anticipated cash investment and capitalized interest of the project) 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 and other capital-intensive projects will require it to raise substantial amounts of money from outside sources; (b) the Company may not be able to renew or extend its credit facility or enter into a new credit facility in today's difficult markets; its ability to renew or extend its credit facility or enter into a new credit facility may be impaired further if current market conditions continue or worsen; if the Company is able to renew or extend its credit facility, it may be on terms substantially less favorable than the current credit facility; and the Company may face similar risks with respect to its outstanding bonds; (c) the Company's business may be sensitive to reductions in consumers' discretionary spending as a result of downtowns in the economy; (d) the global financial crisis may have an impact on the Company's business and financial condition in ways that the Company currently cannot accurately predict; (e) insufficient or lower-than-expected results generated from the Company's new developments and acquired properties may negatively affect the market for the Company's securities; (f) many 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; (g) significant competition in the gaming industry in all of the Company's markets could adversely affect the Company's profitability; (h) the Company may not meet the conditions for receipt or maintenance of gaming licensing approvals, some of which are beyond its control; (i) the opening of the Company's River City casino project is subject to obtaining the required regulatory approvals, including approval from the Missouri Gaming Commission; and (j) 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 the Company - At Apogee Public Affairs - (702) 784-7777: (314) 732-1330: ---------------------- --------------------------- Lewis Fanger - Investor Relations Mack Bradley - Media Pauline Yoshihashi - Media DATASOURCE: Pinnacle Entertainment, Inc. CONTACT: Lewis Fanger - Investor Relations, or Pauline Yoshihashi - Media, both of Pinnacle Entertainment, Inc., +1-702-784-7777; or Mack Bradley - Media of Apogee Public Affairs, +1-314-732-1330 Web Site: http://www.pnkinc.com/

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