Pinnacle Entertainment Acquires Federated Sports & Gaming, Inc. and Federated Heartland, Inc.
June 15 2012 - 8:00AM
Pinnacle Entertainment (NYSE:PNK) announced today that the Company
has entered into agreements to acquire substantially all of the
assets of Federated Sports & Gaming, Inc. and Federated
Heartland, Inc. These entities own the Heartland Poker Tour and
other related assets and intellectual property. The Heartland Poker
Tour is a live and televised poker tournament series that made 17
stops across 15 U.S. states in 2011. Pinnacle Entertainment's River
City and Lumiere Place casinos in St. Louis, Missouri hosted
Heartland Poker Tour events in March 2012. The Heartland Poker
Tour is currently in its eighth season, and broadcasts its events
on hundreds of network television, cable and satellite stations
throughout the U.S., in 16 European countries and 18 Caribbean
territories.
Anthony Sanfilippo, President and Chief Executive Officer of
Pinnacle Entertainment, commented, "The acquisitions provide
Pinnacle Entertainment with one of the poker industry's most
powerful brand and intellectual property portfolios, as well as the
opportunity to expand the Heartland Poker Tour and more extensively
integrate its events into our network of casino properties. In
addition, the acquisitions provide several elements that will help
advance our online gaming strategy."
About Pinnacle Entertainment
Pinnacle Entertainment, Inc. owns and operates six casinos,
located in Louisiana, Missouri, and Indiana, and a racetrack in
Ohio. In addition, Pinnacle is developing L'Auberge Casino &
Hotel Baton Rouge, and holds a 26% ownership stake in Asian Coast
Development (Canada) Ltd. (ACDL), an international development and
real estate company currently developing Vietnam's first
large-scale integrated resort on the Ho Tram Strip.
The Pinnacle Entertainment, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=13121
CONTACT: Investor Relations
Vincent J. Zahn, CFA
VP, Finance and Investor Relations
702/541-7777 or investors@pnkmail.com
Media Relations
Kerry Andersen
Director, Public Relations
337/395-7631 or kandersen@pnkmail.com
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