LAS VEGAS, Aug. 26 /PRNewswire-FirstCall/ -- Pinnacle Entertainment, Inc. (NYSE:PNK) (the "Company") announced today that it has accepted and purchased an additional $17,390,000 in aggregate principal amount of its outstanding 8.25% Senior Subordinated Notes due 2012 ("8.25% Notes") that were tendered on or prior to the expiration date in response to its tender offer for up to $75,000,000 in aggregate principal amount of its outstanding 8.25% Notes. The tender offer expired at 12:00 midnight, New York City time, on Tuesday, August 25, 2009. As of the expiration date, $211,874,000 in aggregate principal amount of 8.25% Notes had been validly tendered and not withdrawn. Since more than $75,000,000 in aggregate principal amount of 8.25% Notes have been validly tendered on or prior to the expiration date, the Company has purchased such 8.25% Notes on a pro rata basis, based on principal amount tendered (regardless of when tendered), generally rounded up or down to the nearest $1,000. This proration and rounding procedure is more fully described in the Company's Offer to Purchase dated July 29, 2009, as amended by the Amendment thereto dated August 25, 2009. The proration factor was approximately 35.4% of the principal amount of the 8.25% Notes validly tendered and not withdrawn prior to the expiration date. The Company purchased a total of $75,000,000 in aggregate principal amount of 8.25% Notes in the tender offer, of which $57,610,000 in aggregate principal amount was purchased on August 12, 2009 following the early tender date and $17,390,000 in aggregate principal amount was purchased on August 26, 2009 following the expiration date. The Company will promptly return or credit to the holder's account 8.25% Notes tendered but not purchased due to proration. Tendering holders whose 8.25% Notes were accepted following the expiration date were paid an aggregate of approximately $18,390,374, representing $1,020.63 per $1,000 principal amount of purchased 8.25% Notes plus accrued interest to, but not including, the date hereof. Following the purchases described above, $200,000,000 in aggregate principal amount of the 8.25% Notes remain outstanding. The Company used a portion of the proceeds from its recently completed issuance of $450,000,000 in aggregate principal amount of 8.625% Senior Notes due 2017 to fund the purchase of the prorated portion of the 8.25% Notes tendered on or prior to the expiration date and the payment of associated expenses and accrued interest. J.P. Morgan and BofA Merrill Lynch acted as the dealer managers for the tender offer. The Bank of New York Mellon Trust Company, N.A. acted as the depositary agent in connection with the tender offer. D.F. King & Co., Inc. acted as the information agent for the tender offer. 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, or Steve Capp - CFO, or Carlos Ruisanchez - Strategic Planning & Development, or Chris Plant or Lewis Fanger - Investor Relations, or Pauline Yoshihashi - Media, all of Pinnacle Entertainment, Inc., +1-702-784-7777 Web Site: http://www.pnkinc.com/

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