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Pinnacle Entertainment Receives Approval St. Louis Purchase3 December 2004LAS VEGAS – (PRESS RELEASE) -- Pinnacle Entertainment, Inc. (NYSE: PNK) announced today that its board of directors has approved the Company's proposed purchase of the Embassy Suites Hotel® - St. Louis-Downtown from FelCor Lodging Limited Partnership. The final purchase is contingent upon completion of successful due diligence and is expected to close in the first quarter of 2005. "Once the transaction closes, we plan to renovate the hotel and incorporate it into the design of our neighboring casino and luxury hotel," said Daniel R. Lee, Chairman and CEO of Pinnacle Entertainment. "We look forward to incorporating the Embassy Suites Hotel® into our portfolio, as well as welcoming all of its employees into the Pinnacle family." |