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Pinnacle Entertainment Receives Key Approval

LAS VEGAS – (Press Release) -- Pinnacle Entertainment, Inc. (NYSE: PNK) today announced that the City of St. Louis Board of Aldermen approved going forward with the Company's development agreement for a proposed casino at Laclede's Landing.

Additionally, the City's Board of Estimate and Apportionment -- which consists of the Mayor, Comptroller, and President of the Board of Alderman -- approved the agreement last week. The proposed casino and luxury hotel development will be located in downtown St. Louis near the Edward Jones domed stadium and America's Center convention center. Construction of the new Pinnacle facility remains subject to additional approvals including the approval of the Missouri Gaming Commission. The Company will present its proposal to the Missouri Gaming Commission on March 31, 2004.

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