Pinnacle Entertainment Announces Permanent Closure of President Casino

Jun 24, 2010, 18:56 ET from Pinnacle Entertainment

ST. LOUIS, June 24 /PRNewswire-FirstCall/ -- President Casino, one of Pinnacle Entertainment, Inc.'s (NYSE: PNK) gaming properties in downtown St. Louis, today announced that due to Mississippi River flooding along the St. Louis riverfront, projected to continue into next week, the casino will not re-open prior to its planned permanent closure. Permanent closure had been scheduled for 2 a.m. on Tuesday, June 29, 2010.  

President Casino customers will be able to use their mychoice(SM) rewards cards at Lumiere Place and River City, the two premier gaming properties in St. Louis.  All President Casino chips and TITOs can be redeemed at Lumiere Place at the Laclede mychoice(SM) center starting Thursday, June 24 at 8 a.m. and ending at 2 a.m. on Tuesday, June 29, 2010.

About Pinnacle Entertainment

Pinnacle Entertainment, Inc. owns and operates casinos in Louisiana, Missouri, Indiana, and Nevada.  In March 2010, Pinnacle opened its newest casino, River City, in south St. Louis County, Missouri.  Pinnacle is also developing a casino in Baton Rouge, Louisiana.

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 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 that could cause actual results to differ materially from those reflected by such statements. Such factors include, but are not limited to: (a) the Company's business may be sensitive to reductions in consumers' discretionary spending as a result of downtowns in the economy; (b) the global financial crisis may have an impact on the Company's business and financial condition in ways that the Company currently cannot accurately predict; (c) insufficient or lower-than-expected results generated from the Company's new developments and acquired properties may negatively affect the market for the Company's securities; (d) significant competition in the gaming industry in all of the Company's markets could adversely affect the Company's profitability; 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 financial results and business, 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.

Lumiere Place and River City are registered trademarks of Pinnacle Entertainment, Inc.  All rights reserved.

SOURCE Pinnacle Entertainment