EXHIBIT 99.1
NEWS BULLETIN
RE:
PINNACLE ENTERTAINMENT
330 North Brand Boulevard,
Suite 1100
Glendale, California 91203
TRADED: NYSE: PNK
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FOR FURTHER INFORMATION:
At The Company: At Coffin Communications Group:
Dan Lee Wade Hundley Bruce Hinckley Sean Collins
Chairman & CEO COO CFO Partner
(818) 662-5900 (818) 662-5900 (818) 662-5900 (818) 789-0100
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FOR IMMEDIATE RELEASE
August 5, 2002
PINNACLE ENTERTAINMENT AND THE INDIANA GAMING
COMMISSION AGREE TO SETTLEMENT
Glendale, California - August 5, 2002 - Pinnacle Entertainment, Inc. (NYSE: PNK)
today announced it executed a settlement with the Indiana Gaming Commission in
connection with the previously announced investigation into events surrounding,
and claims underlying, lawsuits filed by two former employees. At the Indiana
Gaming Commission meeting held July 29, 2002, the Company agreed, among other
things, to pay a fine of $2.26 million, suspend gaming operations at Belterra
Casino Resort for a 3-day period beginning at 6:00 p.m. on October 6 to 12:01
p.m. on October 9, 2002, build a new 300 guest-room tower within two years and
establish a new compliance committee of the Company's Board of Directors.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor"
for forward-looking statements. Forward-looking information involves important
risks and uncertainties that could significantly affect future results and
accordingly, such results may differ from those expressed in forward-looking
statements made by or on behalf of Pinnacle Entertainment. Pinnacle
Entertainment cautions that these statements are qualified by important factors
that could cause actual results to differ materially from those reflected by the
forward-looking statements contained herein. Such statements and factors
include, but are not limited to: (a) estimated expenses at Belterra Casino
Resort for the period October 6-9, 2002; (b) final investigative, legal and
other settlement costs; (c) completion of a 300 guest-room tower at Belterra
Casino Resort within two years; and (d) other risks, including those as may be
detailed from time to time in Pinnacle Entertainment's filings with the
Securities and Exchange Commission ("SEC"). For more information on the
potential factors that could affect the Company's financial results, review the
Company's filings with the SEC, including the Company's Annual Report on Form
10-K.
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