Pinnacle Entertainment Completes Acquisition of Retama Park Racetrack in Texas

Pinnacle Entertainment Completes Acquisition of Retama Park Racetrack in Texas

LAS VEGAS, Jan. 30, 2013 (GLOBE NEWSWIRE) -- Pinnacle Entertainment, Inc.
(NYSE:PNK) announced today the closing of the previously disclosed acquisition
of a majority interest in the owner of the racing license for Retama Park
Racetrack, Pinnacle Retama Partners, LLC ("PRP"). Retama Park Racetrack is a
class 1 pari-mutuel horse-racing track directly off of Interstate 35 in Selma,
Texas, located approximately 20 miles northeast of downtown San Antonio.

At closing, the Company paid cash consideration of $15 million to acquire a
75.5% equity interest in PRP.PRP will use the proceeds of the transaction
primarily to refinance the existing indebtedness of Retama Development
Corporation ("RDC").In addition, the Company entered into a management
contract with RDC to manage the day-to-day operations of Retama Park.In
conjunction with the closing, RDC repaid approximately $3.3 million of loans
owned by the Company that were used to maintain continuity in the operations
of Retama Park Racetrack.

Anthony Sanfilippo, President and Chief Executive Officer of Pinnacle
Entertainment, commented, "We are very excited to welcome Retama Park to the
Pinnacle Entertainment family through our management contract for the track
and to expand our geographic reach to the great state of Texas.We will
immediately begin work to integrate Retama Park into our portfolio and look
forward to leveraging Pinnacle's operational and marketing expertise to
improve the track's operating performance.

"Long term, we believe Retama Park offers Pinnacle and its stakeholders
tremendous strategic value in terms of expanding our geographic reach to the
vibrant Texas markets of San Antonio and Austin and further diversifying our
operating base.We thank Retama Development Corporation, the City of Selma,
Retama Partners Limited, and the Texas Racing Commission for their support and
assistance in bringing this transaction to successful completion."

About Pinnacle Entertainment

Pinnacle Entertainment, Inc. owns and operates seven casinos, located in
Louisiana, Missouri, and Indiana, and a racetrack in Ohio.In addition,
Pinnacle is redeveloping River Downs in Cincinnati, Ohio into a gaming
entertainment facility and holds an approximate 23% ownership stake in Asian
Coast Development (Canada) Ltd. (ACDL), an international development and real
estate company currently developing Vietnam's first large-scale integrated
resort on the Ho Tram Strip.

On December20, 2012, the Company agreed to acquire Ameristar Casinos, Inc. in
an all cash transaction valued at $26.50 per Ameristar share or total
consideration of $2.8 billion including assumed debt.Ameristar owns and
operates casino facilities in St. Charles near St. Louis, Missouri; Kansas
City, Missouri; Council Bluffs, Iowa; Black Hawk, Colorado; Vicksburg,
Mississippi; East Chicago, Indiana; and the Jackpot properties in Jackpot,
Nevada.

The Pinnacle Entertainment, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=13121

All statements included in this press release, other than historical
information or statements of historical fact, are "forward-looking statements"
within the meaning of Section27A of the Securities Act of 1933 and
Section21E of the Securities Exchange Act of 1934. These forward-looking
statements, including statements regarding Retama Park Racetrack, the value of
the acquisition of Retama Park Racetrack to Pinnacle's stakeholders and the
acquisition of Ameristar Casinos, Inc., are based on management's current
expectations and are subject to risks, uncertainties and changes in
circumstances that could significantly affect future results. Accordingly,
Pinnacle cautions that the forward-looking statements contained herein are
qualified by important factors and uncertainties that could cause actual
results to differ materially from those reflected by such statements. Such
factors and uncertainties include, but are not limited to: (a)there is no
assurance that gaming will become legal at Texas racetracks; (b) the timing to
consummate a potential transaction between Pinnacle and Ameristar; (c)the
ability and timing to obtain required regulatory approvals (including approval
from gaming regulators) for the acquisition of Ameristar and to satisfyor
waive closing conditions; (d) the possibility that the merger with Ameristar
does not close when expected or at all; or that the companies may be required
to modify aspects of the merger to achieve regulatory approval;and (e)other
risks, including those as may be detailed from time to time in the Company's
filings with the Securities and Exchange Commission ("SEC"). For more
information on the potential factors that could affect the Company's business
and financial results, review the Company's filings with the SEC, including,
but not limited to, its Annual Report on Form 10-K, its Quarterly Reports on
Form 10-Q and its Current Reports on Form 8-K.

CONTACT: Investor Relations
         Vincent J. Zahn, CFA
         Vice President, Finance and Investor Relations
         702/541-7777 or investors@pnkmail.com
        
         Media Relations
         Kerry Andersen
         Director, Public Relations
         337/395-7631 or kandersen@pnkmail.com

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