Pinnacle Entertainment Opens River City Casino, South St. Louis County's First Gaming Facility

LAS VEGAS, March 5 /PRNewswire-FirstCall/ -- Pinnacle Entertainment (NYSE: PNK) today announced that its newest casino, River City, opened to the public on Thursday, March 4 at 2 p.m. (Central) in the south St. Louis County community of Lemay. The casino represents an investment of $357 million, excluding operating cash, non-cash rent accruals and capitalized interest, and created approximately 600 construction-phase jobs and 1,200 permanent jobs for the region.

The River City complex features a single-level, 90,000-square-foot casino with more than 2,100 slot machines and 55 table games, including poker, and parking for more than 3,000 vehicles. River City's exciting array of restaurants and nightlife options include Jeff Ruby's Steakhouse, a fine-dining restaurant featuring USDA Prime dry-aged steaks, the freshest seafood and a sit-down sushi/raw bar; 1904 Beerhouse, a tavern featuring more than 100 beers by the bottle and 32 on tap, including River City's exclusive 1904 Brewhouse Ale; and Judy's Velvet Lounge, the heart of River City's nightlife scene featuring live music, specialty drinks, bar-top slots and high-definition flat-screen TVs for viewing the biggest sporting events.

River City is located on approximately 56 acres just south of the confluence of the Mississippi River and the River des Peres.  The design reflects the atmosphere of a Missouri river town at the peak of the steamboat trade, and offers local guests a taste of the area's rich history with a comfortable, entertaining casino experience.

During the opening celebration, Richard Goeglein, Pinnacle's interim chairman of the board; John Giovenco, Pinnacle's interim chief executive officer; and Todd George, regional vice president-St. Louis and River City's general manager welcomed a crowd of thousands waiting for a first public glimpse of the new casino.

"River City represents a major investment in the future of Pinnacle Entertainment, and is one of the largest private investments ever in south St. Louis County," Mr. Giovenco said. "We're proud to bring the first casino complex to Lemay, which is located in one of the most densely populated parts of the St. Louis metropolitan area. We believe that River City, along with its sister property in downtown St. Louis, Lumiere Place, have brought riverboat gaming to a whole new level and will create significant long-term value for our shareholders, the community and the state of Missouri."  

About Pinnacle Entertainment

Pinnacle Entertainment, Inc. owns and operates casinos in Nevada, Louisiana, Indiana, Missouri and Argentina.  In March 2010, Pinnacle opened its newest casino, River City, in south St. Louis County, Missouri.  Pinnacle is also developing a second casino in Lake Charles, Louisiana, to be called Sugarcane Bay at L'Auberge du Lac, and 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, including statements regarding the Company's River City casino, the potential job creation and potential economic benefits of River City casino for the Company's shareholders, the local community and the State of Missouri, 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.

River City, Lumiere Place, L'Auberge du Lac and Sugarcane Bay are registered trademarks of Pinnacle Entertainment, Inc.  All rights reserved.

SOURCE Pinnacle Entertainment