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TheStreet Open House

Pinnacle Entertainment Completes Acquisition Of Retama Park Racetrack In Texas

On December 20, 2012, the Company agreed to acquire Ameristar Casinos, Inc. in an all cash transaction valued at $26.50 per Ameristar share or total consideration of $2.8 billion including assumed debt. Ameristar owns and operates casino facilities in St. Charles near St. Louis, Missouri; Kansas City, Missouri; Council Bluffs, Iowa; Black Hawk, Colorado; Vicksburg, Mississippi; East Chicago, Indiana; and the Jackpot properties in Jackpot, Nevada.

The Pinnacle Entertainment, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=13121

All statements included in this press release, other than historical information or statements of historical fact, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements, including statements regarding Retama Park Racetrack, the value of the acquisition of Retama Park Racetrack to Pinnacle's stakeholders and the acquisition of Ameristar Casinos, Inc., 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 cautions that the forward-looking statements contained herein are qualified by important factors and uncertainties that could cause actual results to differ materially from those reflected by such statements. Such factors and uncertainties include, but are not limited to: (a) there is no assurance that gaming will become legal at Texas racetracks; (b) the timing to consummate a potential transaction between Pinnacle and Ameristar; (c) the ability and timing to obtain required regulatory approvals (including approval from gaming regulators) for the acquisition of Ameristar and to satisfy or waive closing conditions; (d) the possibility that the merger with Ameristar does not close when expected or at all; or that the companies may be required to modify aspects of the merger to achieve regulatory approval; and (e) other risks, including those as may be detailed from time to time in the Company's filings with the Securities and Exchange Commission ("SEC"). For more information on the potential factors that could affect the Company's business and financial results, review the Company's filings with the SEC, including, but not limited to, its Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q and its Current Reports on Form 8-K.

CONTACT: Investor Relations
         Vincent J. Zahn, CFA
         Vice President, Finance and Investor Relations
         702/541-7777 or investors@pnkmail.com
         
         Media Relations
         Kerry Andersen
         Director, Public Relations
         337/395-7631 or kandersen@pnkmail.com

Pinnacle Entertainment, Inc. Logo

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