Since more than it offered to purchase were tendered, the company purchased the notes on a pro rata basis, based on principal amount tendered (regardless of when tendered). The proration factor was approximately 35.4% of the principal amount of the 8.25% Notes validly tendered and not withdrawn prior to the expiration date.

The company purchased $57.6 million in aggregate principal amount of the notes on August 12, 2009 following the early tender date and $17.4 million on Wednesday. The offer expired at midnight Tuesday. Approximately $200 million in aggregate principal amount of the 8.25% Notes remain outstanding.

J.P. Morgan and BofA Merrill Lynch acted as the dealer managers for the tender offer. To pay for the notes it did purchase the company used a portion of the proceeds from its recently completed issuance of $450 million in aggregate principal amount of 8.625% Senior Notes due 2017.

Pinnacle Entertainment owns and operates casinos in Nevada, Louisiana, Indiana, Missouri and Argentina. It also has a second casino under construction in the St. Louis area, to be called River City, and also is developing additional properties in Lake Charles, Louisiana (to be called Sugarcane Bay) and Baton Rouge. Pinnacle also owns a casino site at the heart of the Boardwalk in Atlantic City.