LAS VEGAS, July 15, 2013 (GLOBE NEWSWIRE) -- Pinnacle Entertainment, Inc. (NYSE:PNK) announced today that it intends to commence a financing transaction and that it is in the process of seeking commitments for a $1.6 billion term loan and a $1.0 billion revolving credit facility. The revolving credit facility is expected to mature in five years and the term loan is expected to mature in seven years, subject to earlier maturity under certain customary circumstances. The Company will begin to market the term loan and revolving credit facility to a lender group. The Company intends to use the proceeds of the new senior secured credit facility to finance the aggregate cash consideration for its pending acquisition of Ameristar Casinos, Inc. ("Ameristar"), refinance its existing credit facilities, pay related transaction fees and expenses, redeem its existing 8.625% senior notes due 2017 and provide working capital and funds for general corporate purposes after the acquisition. If the acquisition of Ameristar Casinos is not consummated, the Company does not expect to enter into the new term loan and revolving credit facility. About Pinnacle Entertainment Pinnacle Entertainment, Inc. owns and operates seven casinos, located in Louisiana, Missouri, and Indiana, and a racetrack in Ohio. In addition, Pinnacle is redeveloping River Downs in Cincinnati, Ohio into a gaming entertainment facility, owns a minority interest in Asian Coast Development (Canada) Ltd., an international development and real estate company currently developing Vietnam's first large-scale integrated resort on the Ho Tram Strip, and holds a majority interest in the racing license owner, as well as a management contract, for Retama Park Racetrack outside of San Antonio, Texas. On December 20, 2012, Pinnacle 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, Mo.; Kansas City, Mo.; Council Bluffs, Iowa; Black Hawk, Colo.; Vicksburg, Miss.; East Chicago, Ind.; and the Jackpot properties in Jackpot, Nev.