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Pinnacle Entertainment Shareholders Overwhelmingly Approve Merger10 October 2000GLENDALE, California – (Press Release) -- Oct. 10, 2000 -- Pinnacle Entertainment, Inc. (NYSE: PNK) today announced that its shareholders, by an overwhelming majority of over 78% of shares outstanding, approved the Company's proposed previously announced merger with a subsidiary of PH Casino Resorts, Inc., a subsidiary of Harveys Casino Resorts, as well as the election of nine directors to serve on the Board until the completion of the merger, currently expected to occur later this year, or at the latest, the first quarter of 2001, pending receipt of certain regulatory approvals, and PH Casino Resorts obtaining necessary financing. Both proposals were presented to the Company's shareholders in the Company's proxy statement and supplement. As previously announced, each Pinnacle Entertainment shareholder will be entitled to receive $24 in cash for each share held, plus up to an additional $1.00 in cash for each share contingent upon the sale of the Company's 97 acres of surplus land in Inglewood, CA before March 1, 2002. |