<PAGE>
Exhibit 99.1
Contact: John McLaughlin, Chief Financial Officer
of Harveys Casino Resorts at:
(775) 588-2411
For Immediate Release:
---------------------
9:15 a.m., EST, December 14, 2000
HARVEYS CASINO RESORTS POSTPONES OFFERING AND TERMINATES TENDER OFFERS
Lake Tahoe, Nevada - Harveys Casino Resorts announced today that it has
postponed the previously announced private financing effort for the acquisition
of Pinnacle Entertainment, Inc. (f/k/a Hollywood Park, Inc.). The merger
agreement relating to such acquisition has not been terminated, and remains in
full force and effect. Harveys intends to continue to evaluate the prospects for
the transaction, but cannot assure that a transaction will be consummated.
As a result, Harveys is terminating the cash tender offers and consent
solicitations by its subsidiaries, with respect to approximately $150 million of
Harvey's 10-5/8% Senior Subordinated Notes due 2006, approximately $350 million
of Pinnacle's 9-1/4% Senior Subordinated Notes due 2007 and approximately $125
million of Pinnacle's 9-1/2% Senior Subordinated Notes due 2007.
Founded in 1944 by Harvey and Llewellyn Gross, Harveys Casino Resorts
wholly owns and operates Harveys Resort Hotel/Casino, a AAA Four-Diamond
full-service resort at Lake Tahoe, Nevada; Harveys Wagon Wheel Hotel/Casino in
Central City, Colorado, and Harveys Casino Hotel in Council Bluffs, Iowa.
Harveys Casino Resorts also manages Bluffs Run Casino in Council Bluffs, Iowa.
This press release contains "forward-looking statements," as defined in the
Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as
amended, with respect to Harveys' business and its expectations or beliefs
concerning future events. These statements may include statements for the period
following the completion of the merger transactions. Words such as, but not
limited to, "believes," "expects," "anticipates," "estimates," "intends,"
"plans" and similar expressions are intended to identify forward-looking
statements. All forward-looking statements involve risks and uncertainties. Many
risk and uncertainties are inherent in the gaming industry. Others are more
specific to Harveys' operations. The occurrence of the event described, and the
achievement of the intended results, depend on many events, some or all of which
are not predictable or within Harvey's control. Actual results may differ
materially from expected results. All future written and verbal forward-looking
statements attributable to Harveys or any person acting on its behalf are
expressly qualified in their entirety by the cautionary statements contained or
referred to in this section. Harveys and its affiliates undertake no obligation,
and specifically decline 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.
