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Pinnacle Entertainment selects Yates/Paric

With offices in seven states, Yates has worked on some of the most significant casino projects in the nation, including the landmark Borgata Hotel, Casino and Spa in Atlantic City, the Pearl River Resort in Philadelphia, Mississippi and the Beau Rivage Resort and Casino in Biloxi, Mississippi.

"Yates, along with our partner, Paric, is very excited about the upcoming River City project with Pinnacle," said William Yates, President of W. G. Yates & Sons Construction Co. "We look forward to being a part of such a significant project."

Paric, based in O'Fallon, Missouri, is one of the largest privately held companies in St. Louis. Paric is a leading general contractor, construction manager and design-build firm in the St. Louis region. The company specializes in hospitality and institutional facilities, office/commercial interiors, historic renovations and the construction of healthcare facilities, senior living, commercial buildings and environmental systems.

"Paric is pleased to team with Yates on this wonderful project, a project that will benefit the entire St. Louis area," said P. Joseph McKee, Paric's President and Chief Executive Officer.

With the substantial environmental cleanup on the Lemay site now complete, construction of River City is expected to move rapidly from this point. The project is expected to create approximately 600 union construction jobs, more than 1,000 permanent jobs and hundreds of ancillary service jobs for the region.

"Our approach to this selection was based on our high standards for quality and ability to execute a project of this magnitude in a timely fashion. After a deliberate process, we found Yates/Paric to be an excellent mix of deep casino resort experience and significant local expertise. We are pleased to have them on board," said Daniel R. Lee, Chairman and Chief Executive Officer of Pinnacle Entertainment. "With Yates/Paric, we will now move ahead to the next phase of construction on this exciting new project."

The construction contract provides a guaranteed maximum price for the cost of the building itself of $149 million, which is approximately 40 percent of the total project cost of $375 million. The remainder of the project costs include furniture, gaming equipment, the hiring and training of employees, marketing costs associated with the opening, site preparation, foundations and land costs, and the cost of the entrance road, among other things. The construction contract calls for completion of the building in 18 months, with the anticipated opening of the casino soon thereafter.

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