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Pinnacle Received Approval for Laclede's Landing Project

LAS VEGAS – (PRESS RELEASE)-- Pinnacle Entertainment, Inc. (NYSE: PNK) obtained several key approvals today from the Missouri Gaming Commission regarding the Company's Laclede's Landing casino project.

The Commission unanimously approved the location of the casino portion of the Laclede's Landing project, finding the site to be within 1,000 feet of the main channel of the Mississippi River, as required by Missouri statute. Also approved were Pinnacle's request for continuous docking at this site and the Company's exterior design for the casino portion of the project, which by Missouri law must reflect the state's riverboat history.

Today's action follows the Commission's September 2004 selection of Pinnacle for priority investigation in connection with the Company's two casino and related development proposals for St. Louis City and County. The Commission has the ultimate authority to issue gaming licenses in Missouri, and these approvals are important steps toward potential licensure.

"These approvals are important milestones for our downtown St. Louis project," said Daniel R. Lee, Chairman and CEO of Pinnacle Entertainment. "We can now move ahead and finalize our design plans for Laclede's Landing, and we will continue to work with the Commission and the City of St. Louis as our plans develop. We will move forward with all deliberate speed, pursuant to our redevelopment agreement with the City of St. Louis, to create a dynamic entertainment center in the heart of the City in early 2007."

Pinnacle Entertainment was selected for two St. Louis area projects in 2004 by the City and County of St. Louis in a competitive bid process which included applications from four gaming companies.

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