| ST.
LOUIS, MO., December 19, 2007
– Lumière Place, the new $507 million luxury gaming
property constructed in downtown St. Louis by Pinnacle Entertainment,
Inc. (NYSE: PNK), commissioned world-famous Fireworks by Grucci
to produce the pyrotechnic and light spectacular during the
opening-night gala for the entertainment complex.
Known as the “First Family of Fireworks,” the Grucci
family has produced fireworks extravaganzas for some of the
world’s biggest special events including every U.S. Presidential
Inauguration since the Reagan administration. Grucci also produced
the fireworks for three of the last four Olympic Games held
in the U.S. (Salt Lake City, Los Angeles and Lake Placid). In
addition, Grucci put on the dazzling fireworks extravaganza
in October 2007 that was integrated into Pinnacle Entertainment’s
implosion of the Sands Hotel & Casino in Atlantic City,
N.J.
The Lumière Place fireworks and lighting display was
launched and displayed from multiple locations at the downtown
St. Louis entertainment complex and was visible from miles away.
Phil Grucci, Designer and Executive Producer, stated “Our
display, ‘Light up the Night,’ includes some of
the world’s most exclusive special effect pyrotechnics.
Choreographed to a rousing music score, we will display nearly
1,500 aerial shells and as many as 2,300 special effect 'Grucci
Grand Illuminations.' This production promises to be the largest
rooftop performance in St. Louis history.” Lumière
Place opened to the public at 10 p.m. on December 19, 2007.
About Lumière Place
The $507 million Lumière Place sits just north of the
city’s famed Gateway Arch, and is also adjacent to St.
Louis’ Central Business District, the America’s
Center convention center and the Edward Jones Dome, resting
at the nexus of four Interstate highways and the MetroLink light
rail system.
Lumière, which means “light” in French, reflects
both the city’s French heritage and the dramatic presence
Lumière Place’s 24-story luxury hotel tower will
have along the St. Louis riverfront. The tower will be illuminated
at night with a striking arc of light, creating a new icon on
the downtown skyline. Lumière Place will offer a 75,000-square-foot
casino with 2,000 slot machines, more than 45 table games, a
dedicated poker room, seven restaurants and retail shops, a
200-guestroom Four Seasons Hotel with a 10,000-square-foot spa
and business center, and an all-suite hotel with nearly 300
guestrooms.
Construction began on Lumière Place in September 2005.
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. The Company is building a $507 million
casino hotel in downtown St. Louis, scheduled to open in December.
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.
About Fireworks by Grucci
Fireworks by Grucci is a 6-generation family owned and operated
Fireworks Entertainment company with corporate office in New
York and production and distribution facilities in Nevada, Hawaii,
Florida, Nebraska and Virginia. The company produces in excess
of 300 performances annually on a national and international
stage.
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.
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