Pinnacle Entertainment Announces Proposed Private Offering of Senior Notes

Pinnacle Entertainment Announces Proposed Private Offering of Senior Notes

LAS VEGAS, July 15, 2013 (GLOBE NEWSWIRE) -- Pinnacle Entertainment, Inc.
(NYSE:PNK) announced today that PNK Finance Corp., its wholly-owned
subsidiary, intends to offer, subject to market and customary conditions, up
to $800 million in aggregate principal amount of senior unsecured notes.

Pinnacle intends to use the net proceeds from the proposed offering, together
with proceeds from an anticipated new senior secured credit facility, to
finance the aggregate cash consideration for its pending acquisition of
Ameristar Casinos, Inc. ("Ameristar"), pay related transaction fees and
expenses, redeem its existing 8.625% senior notes due 2017 and provide working
capital and funds for general corporate purposes after the acquisition. The
proposed offering is expected to be commenced and completed in the third
quarter of 2013, prior to the expected consummation of Pinnacle's acquisition
of Ameristar.

The notes will initially be issued by PNK Finance Corp.Upon consummation of
the acquisition of Ameristar, the proceeds from the offering are expected to
be released from escrow, PNK Finance Corp. will merge with and into Pinnacle,
with Pinnacle continuing as the surviving entity, and Pinnacle will be the
obligor of the notes.The notes will be senior unsecured obligations of
Pinnacle and, after Pinnacle becomes the obligor under the notes, will be
guaranteed by substantially all of Pinnacle's subsidiaries (which will include
Ameristar's former subsidiaries). If the acquisition is not consummated, the
proceeds held in escrow will be returned to the purchasers.

The notes proposed to be offered will not be registered under the Securities
Act of 1933, as amended (the "Securities Act"), or any state securities laws
and may not be offered or sold in the United States or to any U.S. persons
absent registration under the Securities Act, or pursuant to an applicable
exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act and applicable state securities laws. The
notes will be offered only to "qualified institutional buyers" under Rule 144A
of the Securities Act or, outside the United States, to persons other than
"U.S. persons" in compliance with Regulation S under the Securities Act.

This press release is issued pursuant to Rule 135c of the Securities Act, is
for informational purposes only and shall not constitute an offer to sell nor
the solicitation of an offer to buy the notes or any other securities.The
offering of the notes will not be made to any person in any jurisdiction in
which the offer, solicitation or sale is unlawful.The offering has not been
approved by any gaming regulatory authority having jurisdiction over any of
Pinnacle's or Ameristar's casino operations.

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 Pinnacle's expectations with
respect to the proposed offering of the notes by PNK Finance Corp. and to
complete the transaction with Ameristar. There is no assurance that the
proposed offering of the notes will be completed and 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) market
conditions for corporate debt generally, for the securities of gaming,
hospitality and entertainment companies and for Pinnacle's indebtedness in
particular; (b) whether Pinnacle will offer the notes and the anticipated
terms of the notes; (c) the timing and ability of Pinnacle to consummate the
proposed offering; (d) the anticipated use of proceeds and difficulties,
delays or unexpected costs in offering the notes, (e) 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"); (f)the
ability and timing to complete the dispositions proposed as part of the effort
to reach a resolution with the Commission; (g)the ability and timing to
obtain required regulatory approvals and satisfy or waive other closing
conditions; (h)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; (i)the requirement to satisfy closing
conditions to the merger as set forth in the merger agreement;and (j)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 March1,
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 December31, 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.

Belterra, Boomtown, Casino Magic, Heartland Poker Tour, L'Auberge Lake
Charles, L'Auberge Baton Rouge, Lumière Place, River City, and River Downs are
registered trademarks of Pinnacle Entertainment, Inc.All rights reserved.

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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