Pinnacle Entertainment Opens Spectacular New Casino in Neuquen, Argentina

LAS VEGAS, July 28 /PRNewswire-FirstCall/ — Pinnacle Entertainment, Inc. (NYSE:PNK) announced that, on July 27, the Company opened its replacement casino in Neuquen, Argentina. The new Casino Magic Argentina facility includes a larger and much more lavish casino; a major, upscale restaurant; a wine bar; three other casino bars; and a large entertainment venue, located approximately one mile from the former, antiquated leased facility. The project was completed approximately on budget, at US$15 million, and was funded almost entirely with Casino Magic Argentina’s cash resources and retained earnings.

Pinnacle currently has a concession agreement with the Province of Neuquen, which provides for the Company’s exclusive operation of casinos within approximately 33 miles of its facilities. With the opening of the new facility, Pinnacle’s concession agreement will extend until 2016 instead of expiring in December 2006. The Company is also planning to build a small hotel within the Province of Neuquen, which under the concession agreement further extends the term to 2021.

“I am proud of the many people who have designed and prepared this new casino for opening, and honored to share the ribbon cutting with Governor Jorge Sobisch and Mayor Horacio Quiroga,” said Daniel R. Lee, Chairman and CEO of Pinnacle Entertainment. “Neuquen is a growing, prosperous and stable part of Argentina and the commercial capital of the Patagonia region. We are excited to have built in Neuquen what I believe is now the leading casino facility in Latin America.”

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 opened a major casino resort in Lake Charles, Louisiana in May 2005 and a new casino in Neuquen, Argentina in July. 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.

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, including statements regarding the Company having adequate funding and cash flows to complete future projects, 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. Such factors include, but are not limited to, construction- related factors that could prevent the Company from completing its construction and development projects within budget and on time. 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.

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