Pinnacle Announces Closing of Public Offering

Pinnacle Entertainment, Inc. today announced the closing of its previously
announced public offering of 11.5 million newly issued shares of common
stock at $11.15 per share which resulted in gross proceeds to the Company
of approximately $128 million before underwriting discounts and commission
and other expenses. This amount includes the 1.5 million shares the
underwriters elected to purchase pursuant to the exercise of their
over-allotment option.

Deutsche Bank Securities Inc. acted as sole book-running manager of the
offering. In addition, Bear, Stearns & Co. Inc. and Lehman Brothers acted
as joint lead managers of the offering and SG Cowen acted as co-manager of
the offering.

Copies of the prospectus supplement relating to the offering may be
obtained from Deutsche Bank Securities Inc., Attention: Syndicate, 60 Wall
Street, 4th Floor, New York, New York 10005, when available.

The shares were offered pursuant to an effective shelf registration
statement on file with the Securities and Exchange Commission. This press
release shall not constitute an offer to sell or a solicitation of an
offer to buy common stock nor shall there be any sale of such securities
in any state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.

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 developing a major casino resort in
Lake Charles, Louisiana and has proposed two new developments in St.
Louis, Missouri.