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Pinnacle Entertainment Selects McCarthy Building Companies

ST. LOUIS, Missouri – (PRESS RELEASE) -- Pinnacle Entertainment, Inc. (NYSE: PNK) today announced the selection of McCarthy Building Companies as the General Contractor for the Company's downtown St. Louis casino, hotel and spa project. The project, with a 90,000-square-foot casino, 200-room luxury hotel, spa, and integration of the neighboring Embassy Suites Hotel®, is one of the leading redevelopment projects in the City of St. Louis.

"Our approach to this selection was based on our high standards for quality and ability to execute a project of this magnitude. After a careful and deliberate process, we found McCarthy Building Companies to be a good fit for this development. We are pleased to have them on board," said Daniel R. Lee, Chairman and CEO of Pinnacle Entertainment. "We look forward to working with their team on creating a world-class destination that will change the landscape of downtown."

The Company estimates that this project will create 700 construction jobs, 1,300 permanent jobs, and an additional 2,500 ancillary service jobs in the region. The project is scheduled to open in 2007.

"McCarthy has the expertise and talent we expect in all our partners," said Cliff Kortman, Senior Vice President for Construction and Development for Pinnacle Entertainment. "With this important selection behind us, St. Louis will begin to see movement on our downtown site starting at our official groundbreaking ceremony tomorrow."

"This is a signature project for both the City of St. Louis and McCarthy, and we appreciate Pinnacle's faith in us to get this built to their exacting standards," said Derek Glanvill, Executive Vice President of McCarthy Building Companies. "The first time we heard of Pinnacle's plans for St. Louis we felt it was perfectly suited for McCarthy and our abilities. We look forward to working with the St. Louis subcontracting community and delivering a product of which we can all be proud."

Pinnacle Entertainment was selected for two St. Louis-area projects in early 2004 by the City and County of St. Louis, and then by the Missouri Gaming Commission in competitive bid processes that included applications from several gaming companies.

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