A St. Louis County selection committee today named Pinnacle Entertainment,
Inc. as the developer of choice for a new gaming location in south St.
Louis County. This decision marks the second award for Pinnacle in the
past month, the first being Pinnacle’s selection on January 15 by the City
of St. Louis to develop a gaming facility and hotel in downtown St. Louis.
The planned $300 million development in the community of Lemay will
feature a range of non-gaming amenities alongside the casino, including an
extensive county park, a multiplex movie theater, a bowling alley and a
first- class hotel.
“We are delighted that the selection committee has selected us for this
exciting project,” said Dan Lee, Pinnacle Entertainment Chairman and CEO.
“This is a vote of confidence in both the strength of our proposal and in
the vibrancy of the St. Louis market. We look forward to working closely
with the County to bring this premier development to fruition.
“This facility will provide south St. Louis County with much needed
economic development,” added Lee. “We have worked hard to create unique
projects that work well for the very different locations in the City and
County of St. Louis. We appreciate the confidence and responsibility that
each of these jurisdictions have placed in our company.”
Subject to the issuance of a gaming license by the Missouri Gaming
Commission to Pinnacle Entertainment for this location, the Company
estimates completion of the casino and hotel in 2006 or early 2007.
Pinnacle Entertainment owns and operates eight casinos (four with hotels)
in Nevada, Mississippi, Louisiana, Indiana and Argentina, and receives
lease income from two card club casinos, both in the Los Angeles
metropolitan area. The Company is also building a major casino resort in
Lake Charles, Louisiana and has been selected for two casino and related
development projects in St. Louis, MO, pending approval of the Louisiana
Gaming Control Board, and the Missouri Gaming Commission, respectively.
For further information, please contact Dan Lee, Chairman & CEO,
+1-702-784-7777, Steve Capp, CFO, +1-702-784-7777, or Wade Hundley, COO,
+1-702-784-7777, all of Pinnacle Entertainment; or Sean Collins, Partner,
CCG Investor /Public Relations, +1-818-789-0100, for Pinnacle
Entertainment or Mack Bradley of The Vandiver Group, +1-314-496-3476.