Pinnacle Entertainment Enters Into Agreement to Sell Argentina Operations

LAS VEGAS, April 30, 2010 /PRNewswire via COMTEX/ --Pinnacle Entertainment, Inc. (NYSE: PNK) announced that it has entered into an agreement to sell its Argentina operations to a consortium of Argentine companies for approximately $40 million, subject to working capital and other adjustments and customary closing conditions. Pinnacle's Argentina assets consist of one large and several small casinos in the country's Patagonia region. The transaction is subject to approval from the government of the Province of Neuquen and the Company expects to complete the transaction during the summer of 2010.

Anthony Sanfilippo, president and chief executive officer of Pinnacle Entertainment, commented, "This transaction is consistent with our strategy to focus on enhancing operating results at our core U.S. properties to build shareholder value. To achieve this, we are implementing initiatives that prioritize operational excellence to position our properties as the destination of choice for players in the markets where we operate."

About Pinnacle Entertainment

Pinnacle Entertainment, Inc. owns and operates casinos in Louisiana, Missouri, Indiana, Nevada and Argentina. In March 2010, Pinnacle opened its newest casino, River City, in south St. Louis County, Missouri and is developing a casino in Baton Rouge, Louisiana.

All statements included in this press release, other than historical information or statements of historical fact, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements, including statements regarding the completion date for the sale of Pinnacle's Argentina operations, 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 that could cause actual results to differ materially from those reflected by such statements. Such factors include, but are not limited to: (a) the Company may experience delays in completing the transaction or fail to complete the transaction due to circumstances beyond its control, including failure of the buyers to have adequate financing and failure to obtain approval of the government of the Province of Neuquen; and (b) 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 financial results and business, 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.

Belterra, Boomtown, Casino Magic, L'Auberge du Lac, Lumiere Place and River City are registered trademarks of Pinnacle Entertainment, Inc. All rights reserved.

    CONTACT:
    Lewis Fanger                          Richard Land, James Leahy
    Vice President, Investor Relations    Jaffoni & Collins Incorporated
    702/541-7777 or
     investors@pnkmail.com                212/835-8500 or pnk@jcir.com

SOURCE Pinnacle Entertainment, Inc.