Pinnacle Entertainment Announces Agreement in Principle With the Federal Trade Commission's Bureau of Competition Staff

Pinnacle Entertainment Announces Agreement in Principle With the Federal Trade
Commission's Bureau of Competition Staff

LAS VEGAS, June 17, 2013 (GLOBE NEWSWIRE) -- Pinnacle Entertainment, Inc.
(NYSE:PNK) announced today that it has reached an agreement in principle with
the Bureau of Competition Staff of the Federal Trade Commission ("Commission")
that, subject to negotiation of a consent order, Commission approval and
gaming regulatory approvals, would permit the consummation of its proposed
acquisition of Ameristar Casinos, Inc.

On May 28, 2013, the Commission issued an administrative complaint regarding
the proposed acquisition. Since that time, the parties have made significant
progress toward resolving the matter without the need for administrative
litigation.Consequently, on June 13, 2013, Federal Trade Commission Chief
Administrative Law Judge D. Michael Chappell granted Pinnacle's and
Ameristar's unopposed motion to extend the deadline to respond to the
administrative complaint by 30 days.Pinnacle intends to sell Ameristar's
casino hotel development project in Lake Charles, Louisiana, and Pinnacle's
Lumiere Place Casino, HoteLumiere and the Four Seasons Hotel in St. Louis,
Missouri, subject to gaming regulatory approvals. In the trailing twelve
month period ending March 31, 2013, the net revenues and Adjusted EBITDA for
Pinnacle's St. Louis segment were $389.4 million and $98 million,
respectively, and Lumiere Place Casino and Hotels contributed 49% and 35%,
respectively, to those segment results.Ameristar has previously disclosed
that through March 31, 2013, it invested total capital of $144.5 million in
the Lake Charles project, including purchase price, capital expenditures and
escrow deposits. Ameristar has also previously disclosed that in the 2013
second quarter, it expects capital spending of $84.0 million related to Lake
Charles design and construction costs.

Pinnacle also intends to negotiate a consent order with the Bureau of
Competition Staff, which would permit Pinnacle to complete its acquisition of
Ameristar subject to any divestitures and other terms and conditions specified
in the consent order.A consent order must be approved by a vote of the
Commission, which may accept or reject all terms and conditions.

"We are pleased with the progress we have made in addressing the Federal Trade
Commission's administrative complaint and look forward to completing our
proposed acquisition of Ameristar as soon as possible in the third quarter,"
said Anthony Sanfilippo, Chief Executive Officer of Pinnacle Entertainment.

There can be no assurance that the agreement in principle will result in a
consent order, that the terms of such agreement will not change prior to the
consideration of a consent order by the Commission, or that the Commission
will approve a consent order. A consent order may be subject to other
conditions and operating constraints. There can also be no assurance that
remaining gaming regulatory approvals will be received or that the properties
to be disposed of will be sold at all or on favorable terms.

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, owns a minority interest in Asian Coast Development
(Canada) Ltd., an international development and real estate company currently
developing Vietnam's first large-scale integrated resort on the Ho Tram Strip,
and holds a majority interest in the racing license owner, as well as a
management contract, for Retama Park Racetrack outside of San Antonio, Texas.

On December20, 2012, Pinnacle 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, Mo.; Kansas City,
Mo.; Council Bluffs, Iowa; Black Hawk, Colo.; Vicksburg, Miss.; East Chicago,
Ind.; and the Jackpot properties in Jackpot, Nev.

Important Information Regarding Forward-Looking Statements

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. These forward-looking
statements are based on Pinnacle's current expectations and are subject to
uncertainty and changes in circumstances. These forward-looking statements
include, among others, statements regarding the completion of the
transaction.There is no assurance that the potential transaction will be
consummated, and there are a number of risks and uncertainties that could
cause actual results to differ materially from the forward-looking statements
made herein. These risks and uncertainties include (a) the timing to
consummate a potential transaction between Pinnacle and Ameristar may be
delayed based on circumstances beyond Pinnacle's control, including the
ability of Pinnacle to reach a resolution with the Federal Trade Commission
("Commission"); (b) the ability and timing to complete the dispositions
proposed as part of the effort to reach a resolution with the Commission; (c)
the ability and timing to obtain required regulatory approvals and satisfy or
waive other closing conditions; (d) the possibility that the merger 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; (e) the requirement to
satisfy closing conditions to the merger as set forth in the merger agreement;
(f) Pinnacle's ability to obtain financing on the terms expected, or at all;
and (g) the risk factors disclosed in Pinnacle's most recent Annual Report on
Form 10-K, which Pinnacle filed with the Securities and Exchange Commission on
March 1, 2013 and in all reports on Forms 10-K, 10-Q and 8-K filed with the
Securities and Exchange Commission by Pinnacle subsequent to the filing of the
Form 10-K for the year ended December 31, 2012. Forward-looking statements
reflect Pinnacle's analysis as of the date of this press release. Pinnacle
does not undertake to revise these statements to reflect subsequent
developments, except as required under the federal securities laws. Readers
are cautioned not to place undue reliance on any of these forward-looking
statements.

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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