Pinnacle Entertainment To Expand Boomtown New Orleans

Pinnacle Entertainment have announced that its board of directors has approved a major expansion and renovation of the Company's Boomtown New Orleans property, located on 54 acres in the area's West Bank neighborhood.

The $145 million project will include a new single-story dockside riverboat gaming complex; a 200 guestroom, four-star hotel; a pool area, spa and salon; an expansion of the existing Boomers nightclub; an Asian restaurant; additional meeting space; a new employee dining area; and a refurbishment and expansion of the existing buffet.

The new gaming barge will be a sister ship to the Company's highly successful Casino at L'Auberge du Lac in Lake Charles, Louisiana, and is expected to feature approximately 1,600 slot machines and 60 table games. The previously announced plans to add a 200-room hotel to the Boomtown New Orleans property have been upgraded to four-star accommodations with larger guestrooms and the amenities cited above. Construction on the Boomtown New Orleans project is scheduled to begin in the first quarter of 2007, with completion scheduled for the second half of 2008, pending receipt of regulatory and other approvals.

"We're excited to be part of the renaissance of New Orleans with a major new investment in the region," said Daniel R. Lee, Pinnacle's Chairman and Chief Executive Officer. "This expansion is designed to bring Boomtown New Orleans to new levels of comfort, luxury and excitement, similar to the ambience of our L'Auberge du Lac property in Lake Charles." The architectural firm of Bergman, Walls & Associates, Ltd. has been chosen to design the expansion, Mr. Lee added.

As part of the project, Pinnacle plans to also improve the levee system at the property, working closely with local and regional officials. "The safety and comfort of all of our guests and employees is always our key concern," Mr. Lee said. "The West Bank generally did not flood during the 2005 hurricanes. Nevertheless, the Army Corps of Engineers and regional officials are working diligently to improve the levee system in our West Bank neighborhood. We intend to work with these government agencies to design and improve the levee system around Boomtown to protect our guests, our employees and our investment."