Pinnacle Entertainment Closes Stock Offering - Saturday 21st of January 2006

LAS VEGAS Pinnacle Entertainment, Inc. (NYSE: PNK) announced today the closing of its underwritten public offering of 6.0 million of its newly issued shares of common stock at $27.35 per share, which resulted in gross proceeds to Pinnacle of $164.1 million. Lehman Brothers Inc. and Deutsche Bank Securities Inc. acted as joint book-running managers of the offering. In addition, Bear, Stearns & Co. Inc. and Merrill Lynch & Co. acted as joint lead managers of the offering.

The underwriters of the offering have an option until February 13, 2006 to purchase an additional 900,000 shares of common stock from Pinnacle at $27.35 per share.

Copies of the prospectus supplement relating to the offering may be obtained from Lehman Brothers Inc., c/o ADP Financial Services, Prospectus Fulfillment, 1155 Long Island Avenue, Edgewood, NY 11717, 613-254-7106, or Linda Wegmann, Deutsche Bank Securities, 1251 Avenue of the Americas, Floor 25, New York, NY 10020, 212-474-7392.

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