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Pinnacle Offers Shares

LAS VEGAS – (Press Release) -- Pinnacle Entertainment, Inc. (NYSE: PNK) announced today that it intends to offer 8.0 million shares of its common stock under an effective shelf registration statement on file with the Securities and Exchange Commission. The Company also intends to grant to the underwriters of the proposed offering an option to purchase up to 1.2 million shares of common stock to cover over-allotments, if any. This offering represents a new financing by the Company. Upon the completion of the offering, Pinnacle anticipates having approximately 31.9 million shares of common stock outstanding, assuming the over-allotment option is not exercised.

Deutsche Bank Securities Inc. will act as sole book-running manager of the offering. In addition, Bear, Stearns &Co. Inc. and Lehman Brothers will act as joint lead managers of the offering and SG Cowen will act as co-manager of the offering.

Copies of the preliminary prospectus supplement relating to the offering may be obtained from Deutsche Bank Securities Inc., Attention: Syndicate, 60 Wall Street, 4th Floor, New York, New York 10005.

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