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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): July 31, 2000
PINNACLE ENTERTAINMENT, INC.
(Exact Name of Registrant as Specified in its Charter)
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Delaware 0-10619 95-3667491
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
330 N. Brand Boulevard, Suite 1100, Glendale, California 91203
(Address of Principal Executive Offices) (Zip Code)
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Registrant's telephone number, including area code: (818) 662-5900
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Item 5. Other Events.
On July 31, 2000, Pinnacle Entertainment, Inc.'s (the "Company's") Miss
Belterra riverboat casino was struck by a barge en route to its berthing site at
the Company's Belterra Casino Resort in Indiana (the "Resort"). As a result of
the accident, there will be a delay in the scheduled August 21, 2000 opening of
the Resort.
As previously disclosed, under the Agreement and Plan of Merger (the
"Merger Agreement") dated as of April 17, 2000 among PH Casino Resorts, Inc.
("PHCR"), Pinnacle Acquisition Corporation ("Pinnacle Acq Corp") and the
Company, it is a condition to PHCR and Pinnacle Acq Corp's obligations to
consummate the merger that all material phases of the Resort, other than the
golf course and performance theater, shall have been substantially completed and
opened to the public by not later than September 15, 2000 and that the costs
associated with the Resort shall not exceed $207,000,000. As a result of the
accident, the Resort's opening will be delayed until after September 15, 2000
and, therefore, this condition to Pinnacle Acq Corp's obligations under the
Merger Agreement will not be satisfied. PHCR and Pinnacle Acq Corp have
notified the Company that they are reserving all rights with respect to the
conditions in the Merger Agreement, including the condition in the Merger
Agreement regarding the Resort.
The Miss Belterra is in the process of being transferred to a dry dock in
New Orleans, Louisiana, at which time damage to the barge will be assessed and
repair plans, both in terms of time and cost, will be developed. The Company
currently expects that the Resort will open in the fourth quarter of 2000. The
Company intends to have discussions with PHCR and Pinnacle Acq Corp regarding a
possible waiver of, or agreement to modify, the condition in the Merger
Agreement regarding the Resort when the extent of the damage and the length of
delay have been ascertained.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
PINNACLE ENTERTAINMENT, INC.
Date: August 8, 2000 By: /s/ Bruce C. Hinckley
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Bruce C. Hinckley
Chief Financial Officer
