Pinnacle amends and extends revolving credit facility

Additionally, the effective interest rate was reduced throughout the pricing grid, with a current interest rate of 250 basis points over LIBOR compared to the previous effective interest rate of 375 basis points over LIBOR.  As of June 30, 2011, the company had approximately us$ 10 million drawn on the revolving credit facility.

Certain financial covenants contained in the credit agreement have also been amended to reflect Pinnacle's recent operating performance improvements, free cash flow and expanded project development pipeline.

Carlos Ruisanchez, executive vice president and chief financial officer of Pinnacle Entertainment, commented: "The amended revolving credit agreement, including an increase in total borrowing capacity, lower borrowing costs and updated financial covenants, provides Pinnacle with added flexibility to continue executing on our pipeline of return-focused expansion projects.

"Pinnacle is diversifying its operations through three distinct growth projects which will come online over the next several years.  In Louisiana, construction continues on L'Auberge Casino & Hotel Baton Rouge, which will open in 2012. Additionally, we anticipate that we will soon complete our investment in Asian Coast Development (Canada), the owner and developer of a beachfront complex of destination integrated resorts and residential properties in Vietnam, and continue to plan the re-development of River Downs in Cincinnati into a premier racing and gaming entertainment destination. We value all of our bank relationships and appreciate their help in amending and extending the agreement."