Jan 19, 2006 10:32 ET

Pinnacle Entertainment Announces Closing of Public Offering of Six Million Shares of Common Stock

LAS VEGAS, Jan. 19 /PRNewswire-FirstCall/ -- Pinnacle Entertainment, Inc. (NYSE:PNK) announced today the closing of its underwritten public offering of 6.0 million of its newly issued shares of common stock at $27.35 per share, which resulted in gross proceeds to Pinnacle of $164.1 million. Lehman Brothers Inc. and Deutsche Bank Securities Inc. acted as joint book-running managers of the offering. In addition, Bear, Stearns & Co. Inc. and Merrill Lynch & Co. acted as joint lead managers of the offering.


The underwriters of the offering have an option until February 13, 2006 to purchase an additional 900,000 shares of common stock from Pinnacle at $27.35 per share.


Copies of the prospectus supplement relating to the offering may be obtained from Lehman Brothers Inc., c/o ADP Financial Services, Prospectus Fulfillment, 1155 Long Island Avenue, Edgewood, NY 11717, 613-254-7106, or Linda Wegmann, Deutsche Bank Securities, 1251 Avenue of the Americas, Floor 25, New York, NY 10020, 212-474-7392.


This press release shall not constitute an offer to sell or a solicitation of an offer to buy common stock 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.


About Pinnacle Entertainment


Pinnacle Entertainment owns and operates casinos in Nevada, Louisiana, Indiana and Argentina, owns a hotel in Missouri, receives lease income from two card club casinos in the Los Angeles metropolitan area, has been licensed to operate a small casino in the Bahamas, and owns a casino site and has significant insurance claims related to a hurricane-damaged casino previously operated in Biloxi, Mississippi. The Company opened a major casino resort in Lake Charles, Louisiana in May 2005 and a new casino in Neuquen, Argentina in July 2005. Pinnacle has also been selected for two casino development projects in the St. Louis, Missouri area. The development projects are dependent upon final approval by the Missouri Gaming Commission.


For further information
At the Company - (702) 784-7777:

Dan Lee, Chairman & CEO
Wade Hundley, President
Steve Capp, CFO
Chris Plant or Lewis Fanger, Investor Relations

Source: Pinnacle Entertainment, Inc.

CONTACT: Dan Lee, Chairman & CEO, or Wade Hundley, President, or Steve
Capp, CFO, or Chris Plant or Lewis Fanger, Investor Relations, all of Pinnacle
Entertainment, Inc., +1-702-784-7777

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