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Pinnacle Fined $2.26 Million for Hiring Hookers30 July 2002p>LOS ANGELES, California – As reported by Reuters: "Indiana gaming regulators on Monday fined a casino operated by Pinnacle Entertainment Inc. (NYSE:PNK) $2.26 million for bringing alleged prostitutes to the property during a golf tournament and other possible violations of gaming laws last year. "Under the settlement, Glendale, California-based Pinnacle, was also ordered to shut down its Belterra casino from the early evening of Oct. 6 through the morning of Oct. 9. "…Under the settlement, Belterra will be required to pay the estimated wagering and admission taxes and the economic development agreement costs it would have made during the three day closure. The casino will also be required to pay employees whatever money they would have received over the three days. "…The settlement stems from events that occurred at the Belterra during a golf tournament held by the casino for high rollers from June 26, 2001 to June 29. "In addition to the golfers, eight or more women were flown to the area in an aircraft leased by Pinnacle, according to the settlement agreement. "`According to numerous witnesses, these women were brought to Belterra for the entertainment of the guests of the golf tournament,' the agreement stated. …"According to the settlement, Belterra's then-Chairman R.D. Hubbard may have violated casino regulations when, at the time, he `directed casino employees to provide money to the invitees for gambling and to pay other fees without the necessary paperwork.' "Under the settlement, Hubbard, who resigned as Pinnacle chairman in April, also agreed to pay $750,000 in fines and for costs related to the investigation…" |