Pinnacle Entertainment Announces Marketing of Term Loan and Revolving Credit Facility

Pinnacle Entertainment Announces Marketing of Term Loan and Revolving Credit
Facility

LAS VEGAS, July 15, 2013 (GLOBE NEWSWIRE) -- Pinnacle Entertainment, Inc.
(NYSE:PNK) announced today that it intends to commence a financing transaction
and that it is in the process of seeking commitments for a $1.6 billion term
loan and a $1.0 billion revolving credit facility.

The revolving credit facility is expected to mature in five years and the term
loan is expected to mature in seven years, subject to earlier maturity under
certain customary circumstances.The Company will begin to market the term
loan and revolving credit facility to a lender group.

The Company intends to use the proceeds of the new senior secured credit
facility to finance the aggregate cash consideration for its pending
acquisition of Ameristar Casinos, Inc. ("Ameristar"), refinance its existing
credit facilities, 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.If the acquisition of
Ameristar Casinos is not consummated, the Company does not expect to enter
into the new term loan and revolving credit facility.

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.

Ameristar and Pinnacle filed the required Hart-Scott-Rodino premerger
notification and report forms on January 11, 2013.Pinnacle has filed
applications for regulatory approvals as required under applicable gaming
laws.

On February 11, 2013 the Company received a request for additional information
and documentary materials (a "Second Request") from the Federal Trade
Commission ("FTC") regarding its proposed acquisition of Ameristar. The
information request was issued under notification requirements of the
Hart-Scott-Rodino Antitrust Improvements Act of 1976. On May 28, 2013, the FTC
filed a civil administrative complaint alleging that the proposed acquisition
would reduce competition and lead to higher prices and lower quality for
customers in the St. Louis, Missouri and Lake Charles, Louisiana areas in
violation of the U.S. antitrust law. On June 17, 2013, Pinnacle publicly
announced that it had reached an agreement in principle with the Bureau of
Competition Staff of the FTC that, subject to negotiation of a consent order,
FTC approval and gaming regulatory approvals, would permit the consummation of
the proposed acquisition. Under the agreement in principle, 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.
The consummation of the merger is expected to occur in the third quarter of
2013, subject to various conditions, including, among others, reaching
definitive agreement with the FTC on the consent order, subject to any
divestitures and other terms and conditions specified in the consent order,
and obtaining the remaining requisite gaming regulatory approvals.No
assurance can be given that the proposed acquisition will be completed.

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 ability of Pinnacle to obtain
commitments for the term loan and revolving credit facility and to complete
the transaction with Ameristar. There is no assurance that the commitments
will be obtained 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)the ability and timing of Pinnacle to obtain
commitments for the term loan and credit facility and other funding necessary
to complete the transaction with Ameristar on the terms expected, or at all;
(b) 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"); (c)the ability and timing to complete the
dispositions proposed as part of the effort to reach a resolution with the
Commission; (d)the ability and timing to obtain required regulatory approvals
and satisfy or waive other closing conditions; (e)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;
(f)the requirement to satisfy closing conditions to the merger as set forth
in the merger agreement;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 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, Lumiere 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

Pinnacle Entertainment, Inc. Logo