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Exhibit (d)(7)
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.)
CONTACT: Paul Alanis, President & CEO, or Bruce Hinckley, CFO, both of
Pinnacle Entertainment, 818-662-5900; or General Inquiries, Haris
Tajyar, 310-442-0599, or Analyst Inquiries, Kathy Brunson, 312-266-
7800, both of The Financial Relations Board
