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Pinnacle Stock Purchased

LAS VEGAS – (PRESS RELEASE) -- Pinnacle Entertainment, Inc. (NYSE: PNK) announced that the underwriters of its previously announced public offering of four million newly issued shares of common stock have exercised in full their option to purchase an additional 600,000 shares of common stock at $18.25 per share.

The exercise of the option adds approximately $11 million in gross proceeds to the offering and increases the gross proceeds to Pinnacle to approximately $84 million before underwriting discounts and commission and other expenses. The offering, including the shares to be sold pursuant to the option, is expected to close on December 22, 2004, subject to customary closing conditions.

Lehman Brothers Inc. and Deutsche Bank Securities Inc. are acting as joint book-running managers of the offering. In addition, Bear, Stearns & Co. Inc. is acting as joint lead manager of the offering.

Copies of the final prospectus supplement relating to the offering may be obtained by written request to Lehman Brothers Inc., c/o ADP Financial Services, Prospectus Fulfillment, 1155 Long Island Avenue, Edgewood, NY 11717 or email request to sabrina_neat@adp.com or monica_castillo@adp.com, or by oral or written request to Linda Wegmann, Deutsche Bank Securities, 1251 Avenue of the Americas, Floor 25, New York, NY 10020, (212) 474-7392.

The shares are being offered pursuant to an effective shelf registration statement on file with the Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy common stock nor shall there be any sale of such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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