LAS VEGAS, Jan. 13 /PRNewswire-FirstCall/ -- Pinnacle Entertainment, Inc.
(NYSE: PNK) announced that the underwritten public offering of 6.0 million of
its newly issued shares of common stock has been priced at $27.35 per share,
which will result in gross proceeds to Pinnacle of $164.1 million.  Lehman
Brothers Inc. and Deutsche Bank Securities Inc. are acting as joint
book-running managers of the offering.  In addition, Bear, Stearns & Co. Inc.
and Merrill Lynch & Co. are acting as joint lead managers of the offering.
    The offering is expected to close on January 19, 2006, subject to
customary closing conditions.  The underwriters of the offering have a 30-day
option to purchase an additional 900,000 shares of common stock from Pinnacle.
    The Company expects to use the proceeds of this offering for general
corporate purposes and for one or more of the following capital projects it
intends to pursue at its existing facilities.  The Company intends to add
approximately 250 guestrooms at Belterra Casino Resort, bringing the total to
approximately 850 guestrooms.  The Company also plans to add approximately
250 additional guestrooms to L'Auberge du Lac in Lake Charles, Louisiana,
bringing the total to approximately 1,000 guestrooms.  Finally, the Company
intends to build a 200 guestroom hotel at its Boomtown New Orleans property,
the first guestrooms at that facility.  Pinnacle expects to begin construction
of all three of these expansions in 2006 and complete such construction in
2007.  In addition, proceeds of the offering may be used to fund a portion of
the construction costs of the St. Louis projects.
    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, 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

Link to this page: