Exhibit 99.1
 | PINNACLE ENTERTAINMENT, INC. 3800 Howard Hughes Parkway Las Vegas, Nevada 89109 NYSE: PNK |
FOR FURTHER INFORMATION
At the Company – (702) 784-7777:
Dan Lee Chairman & CEO | Steve Capp CFO | Wade Hundley COO | Chris Plant Lewis Fanger Investor Relations |
FOR IMMEDIATE RELEASE
November 16, 2004
Pinnacle Entertainment Announces Proposed Public Offering of
$100 Million of 8.25% Senior Subordinated Notes due 2012
LAS VEGAS, November 16 /PRNewswire-FirstCall/ — Pinnacle Entertainment, Inc. (NYSE: PNK - News) announced today that it intends to offer $100 million aggregate principal amount of its 8.25% Senior Subordinated Notes due 2012 under an effective shelf registration statement on file with the Securities and Exchange Commission. There is currently outstanding $200 million in aggregate principal amount of such notes. The net cash proceeds from the offering will be used to fund the Company’s purchase of a portion of its outstanding 9.25% Senior Subordinated Notes due 2007 through a cash tender offer that it announced today.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor shall there be any sale of such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offer, if at all, will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. Copies of the prospectus may be obtained from Lehman Brothers Inc. c/o ADF Financial Services, Integrated Distribution Services, 1155 Long Island Avenue, Edgewood, New York, 11717; (631) 254-7106, or from Bear, Stearns & Co. Inc. c/o Prospectus Department, 1 Metrotech Center, Brooklyn, New York 11201; (347) 643-1581.
About Pinnacle Entertainment
Pinnacle Entertainment owns and operates casinos in Nevada, Mississippi, Louisiana, Indiana and Argentina, and receives lease income from two card club casinos, both in the Los Angeles metropolitan area. The Company is currently building a major casino resort in Lake Charles, Louisiana and has been selected for two casino development projects in the St. Louis, Missouri area. Each of these development projects is dependent upon final approval by the Louisiana Gaming Control Board and the Missouri Gaming Commission, respectively.
All statements included in this press release, other than historical information or statements of historical fact, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements 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 Entertainment 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. 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 its Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q and its Current Reports on Form 8-K.