PINNACLE ENTERTAINMENT ANNOUNCES MANANGEMENT HIRINGS FOR LUMIÈRE PLACE IN DOWTOWN ST. LOUIS
FOR FURTHER INFORMATION
At The Vandiver Group—(314) 991-4641 ext. 111
Mack A. Bradley, SVP
mbradley@vandivergroup.com
FOR IMMEDIATE RELEASE
April 9, 2007
PINNACLE ENTERTAINMENT ANNOUNCES MANANGEMENT HIRINGS
FOR LUMIÈRE PLACE IN DOWTOWN ST. LOUIS
ST. LOUIS, MO, April 9, 2007 – Pinnacle Entertainment, Inc. (NYSE: PNK) announces two
new additions to the management team at Lumière Place, now under construction in downtown
St. Louis.
McDonald “Mac” Carheel is the new Director of Talent Sourcing and Staffing. In this role he
is responsible for overseeing personnel services, assuring the recruitment of a viable workforce
and ensuring that employee services and programs are properly maintained. In addition to his
work at Lumière Place, Carheel will oversee Pinnacle Entertainment’s River City Casino and
Hotel scheduled to open in Lemay in the fourth quarter of 2008.
Carheel earned a certificate of Theology from American Baptist College. He is currently
pursuing a degree in Business Administration.
Charles Felton, Jr., is the new Director of Purchasing for Lumière Place. Felton is responsible
for overseeing all purchases and procurement goals.
Felton has been with Pinnacle Entertainment for the last seven years, working at the company’s
Belterra Casino Resort & Spa in Indiana and Boomtown Hotel & Casino in Louisiana.
About Pinnacle Entertainment
Pinnacle Entertainment 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. Pinnacle also has two casino development projects under construction in the St.
Louis, Missouri area, which are dependent upon final approval by the Missouri Gaming
Commission. Pinnacle is currently developing the Company's second casino resort in Lake
Charles, Louisiana, to be called Sugarcane Bay, and anticipates developing a hotel-casino in
Baton Rouge, Louisiana, subject to various approvals. Additionally, Pinnacle owns a casino site
at the heart of the famed Boardwalk in Atlantic City on which it plans to build a major new
casino resort.
- more -
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 Company's future growth, construction projects and budgets, new development opportunities, and pending acquisitions and divestitures, 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) our substantial funding needs in connection with our development projects, our current expansion projects and other capital-intensive projects will require us to raise substantial amounts of money from outside sources; (b) the risk that new projects, expansions, other capital intensive projects and lower than expected results from the opening of our new facilities could strain the Company's financial resources and might not provide for a sufficient return, if any; (c) many construction-related factors could prevent the Company from completing its construction and development projects within budget and on time; (d) development of our Atlantic City development site presents many risks, and we may not realize the financial and strategic goals that are contemplated from the development; (e) significant competition facing the Company in all of its markets; (f) because the Company has considerable leverage, future cash flows may not be sufficient to meet its financial obligations and the Company might have difficulty obtaining additional financing; (g) issues may arise with respect to the licenses associated with the Louisiana entities that we plan to utilize for our Sugarcane Bay and Baton Rouge projects and we may not execute agreements with respect to the land to be acquired for the Sugarcane Bay project; (h) damage and closures caused by Hurricane Katrina in the New Orleans area make our future operating results at Boomtown New Orleans less predictable; (i) issues with respect to our insurance policies could affect our recovery of further insurance proceeds associated with the 2005 hurricane damage and related business interruption; and (j) 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.
# # #