<PAGE>
EXHIBIT 99.1
NEWS BULLETIN
RE:
FROM:
PINNACLE ENTERTAINMENT
The Financial Relations Board 330 North Brand Boulevard,
B S M G W O R L D W I D E Suite 1100
Glendale, California 91203
TRADED: NYSE: PNK
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FOR FURTHER INFORMATION:
AT THE COMPANY AT THE FINANCIAL RELATIONS BOARD:
Paul Alanis Bruce Hinckley Haris Tajyar Kathy Brunson
President &CEO CFO General Inquiries Analyst Inquiries
(818) 662-5900 (818) 662-5900 (310) 442-0599 (312) 266-7800
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FOR IMMEDIATE RELEASE
January 12, 2001
PH CASINO RESORTS EXTENDS MERGER
AGREEMENT WITH PINNACLE ENTERTAINMENT
Glendale, California - January 12, 2001 - Pinnacle Entertainment, Inc.
(NYSE:PNK) today announced that, as provided for in the merger agreement, PH
Casino Resorts, Inc., an affiliate of Harveys Casino Resorts, has extended the
termination date of PH Casino Resorts' previously announced acquisition of
Pinnacle Entertainment, Inc. from January 15, 2001 to January 31, 2001, subject
to PH Casino Resorts' right to elect one or more subsequent outside termination
dates at any time and from time to time in its sole discretion in accordance
with the merger agreement. PH Casino Resorts intends to continue to evaluate the
prospects for the transaction, but cannot assure that a transaction will be
consummated.
About Pinnacle Entertainment
Pinnacle Entertainment is a diversified gaming Company that owns and operates
seven casinos (four with hotels) in Nevada, Mississippi, Louisiana, Indiana and
Argentina, and receives lease income from two card club casinos, both in the Los
Angeles metropolitan area.
(The Private Securities Litigation Reform Act of 1995 provides a "safe harbor"
for forward-looking statements. Forward-looking information involves important
risks and uncertainties that could significantly affect future results and
accordingly, such results may differ from those expressed in forward-looking
statements made by or on behalf of Pinnacle Entertainment. Pinnacle
Entertainment cautions that these statements are qualified by important factors
that could cause actual results to differ materially from those reflected by the
forward-looking statements contained herein. Such factors include, but are not
limited to (a) future market conditions in the high yield debt market, (b) PH
Casino Resorts' ability to secure financing to complete the merger at acceptable
rates, (c) obtaining and retaining gaming licenses and regulatory approvals, (d)
changes in the gaming markets in which Pinnacle Entertainment operates, and (e)
other risks as 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, review
the Company's filings with the SEC, including the Company's Annual Report on
Form 10-K Pinnacle Entertainment's other filings with the SEC. Pinnacle
Entertainment undertakes no obligation, and specifically declines any
obligation, to publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise. In light of these
risks, uncertainties and assumptions, the forward-looking events discussed in
this press release might not occur.)
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