PINNACLE OPENS HOTELUMIÈRE AT LUMIÈRE PLACE
FOR FURTHER INFORMATION
At The Vandiver Group—(314) 324-8567 (cell)
Mack A. Bradley, EVP
mbradley@vandivergroup.com
FOR IMMEDIATE RELEASE
February 12, 2008
PINNACLE OPENS HOTELUMIÈRE AT LUMIÈRE PLACE
ST. LOUIS, MO., February 12, 2008 – Pinnacle Entertainment Inc.'s $507 million Lumiere Place casino and entertainment complex in downtown St. Louis announced Tuesday the opening of HoteLumiere, an all-suite, 295-room hotel that cost $16 million to renovate.
The hotel is located in the space formerly occupied by the Embassy Suites-Downtown St. Louis building and features a skywalk above Second Street connecting it to the Lumiere Place casino, a four-story waterfall in the atrium and more than 8,000 square feet of meeting and convention space.
The complex will also boast a new fitness center, a new outdoor pool deck and hot tub along with an upgraded pool to be opened in the second quarter of 2008. HoteLumière will also feature a new Italian restaurant, House of Savoy, which is scheduled to open next month.
The suites offer high-tech features such as two plasma-screen TVs, iPod docking stations and a high-speed Wi-Fi network.
HoteLumiere is the second hotel to open on the Lumiere Place property - the 200-room Four Seasons St. Louis, which occupies the skyscraper atop Lumiere Place, opened earlier this month.
The $507 million Lumière Place includes a 75,000-square-foot casino with 2,000 slot machines, two hotels and seven restaurants.
About Pinnacle Entertainment
Pinnacle Entertainment, Inc. owns and operates casinos in Nevada, Louisiana, Indiana, Missouri, Argentina and The Bahamas; owns a hotel in Missouri; and has significant insurance claims related to a hurricane-damaged hotel and casino complex previously operated in Biloxi, Mississippi. he Company opened Lumière Place, a $507 million casino hotel in downtown St. Louis, Missouri, in December 2007. Pinnacle also has a second casino development project under construction in the St. Louis, Missouri area. The opening of both Missouri casinos is dependent upon final approval by the Missouri Gaming Commission. Pinnacle is currently developing a second casino resort in Lake Charles, Louisiana, to be called Sugarcane Bay; anticipates developing a casino resort in Baton Rouge, Louisiana, to be called Rivière; and has submitted a proposal for a casino resort in Kansas City, Kansas, subject to various approvals. Additionally, Pinnacle owns a casino site at the heart of the famed Boardwalk in Atlantic City, New Jersey, on which it plans to build a major new casino resort.
All statements included in this press release, other than historical information or statements of historical fact, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, including statements regarding the timing of Pinnacle’s construction projects and expected budgets, 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 Entertainment 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) many construction-related factors could prevent the Company from completing its construction and development projects within budget and on time; (b) the risk that the Company’s new development projects, proposed expansions to the existing facilities, and other capital intensive projects could strain the Company's financial resources and the risk that such projects and new developments might not provide for a sufficient return, if any; and (c) other risks, including those as may be detailed from time to time in Pinnacle Entertainment’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 its Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q and its Current Reports on Form 8-K.