Pinnacle Entertainment, Inc. (NYSE:PNK) and Lumiere Place Casino
and Hotels today announced a series of major donations to
not-for-profit initiatives in its downtown neighborhood and to the
City of St. Louis. The financial contributions are in addition to
Pinnacle Entertainment gifting a valued piece of real estate in the
Lumiere Place area for future development.
"We are proud to be a part of the St. Louis tourism and business
community," said Anthony Sanfilippo, President and Chief Executive
Officer of Pinnacle Entertainment, parent company of Lumiere Place.
"Partnering with Mayor Francis Slay and national treasures such as
the Gateway Arch Foundation, we will continue to promote the growth
of tourism in the region and provide new economic benefits to the
City of St. Louis and the State of Missouri."
The CityArchRiver 2015 Foundation, a 501(c)(3)
organization, will receive a $5 million donation to
advance the initial implementation of a transformative plan to
connect downtown to the river and revitalize the Arch grounds to
increase tourism. The CityArchRiver design includes the addition of
a park over a portion of Interstate 70 just west of the Arch,
allowing visitors to travel to and from the riverfront by bike or
by foot with ease. Additional improvements to the connections
between Lumiere Place, the Washington Avenue and the Mercantile
Exchange (MX) entertainment districts, Laclede's Landing and the
Arch grounds will provide simplified and welcoming vehicular and
pedestrian access.
"Pinnacle Entertainment and Lumiere Place are great neighbors to
the Gateway Arch. This contribution will enable us to keep pace
with our work to transform the Arch grounds and weave our region
and the Arch together, as they should be," said Walter Metcalfe,
chairman of the CityArchRiver 2015 Foundation.
The National Blues Museum, a 501(c)(3) organization,
will receive a $6 million donation, which is the
foundational contribution for the Museum's soon to be announced
campaign to raise the remainder of the funds. The
23,000-square-foot National Blues Museum will offer an
interactive experience that includes a mix of artifacts and
technology-driven exhibits. This emerging cultural attraction
will showcase the Blues as the foundation of modern American music
and illustrate its rich history. Upon opening, projected for
2014, the Museum will include an intimate performance venue, highly
interactive touch screen exhibits and educational programming that
will include onsite and in-classroom opportunities to explore the
history of Blues music and its influence on rock and roll, hip hop,
jazz, gospel, and R&B. Public programs will feature intimate
performances, lectures, screenings of documentaries and other
films, and Q&A sessions with national artists and music
industry professionals. The museum will be located on
Washington Avenue within the new MX District in the heart of
downtown St. Louis, within walking distance of a variety of
attractions including the Gateway Arch, Busch Stadium, and Lumiere
Place.
"Thanks to Pinnacle Entertainment and Lumiere Place's generous
donation, the National Blues Museum will be able to begin
construction much sooner than anticipated," said Robert Endicott,
chairman of the National Blues Museum and partner at Bryan Cave.
"This contribution is a tremendous start for our
capital campaign. We are extremely appreciative to Pinnacle
Entertainment for helping make the National Blues Museum a reality
for St. Louis and for Blues music fans everywhere."
Great Rivers Greenway will receive the donation of
a parcel of real estate currently owned by Pinnacle
Entertainment, which is a key link
in GRG's plans for a continuous River
Ring greenway system to more fully connect the St.
Louis region. The land is located east of Lumiere Place,
bounded by Carr Street, Lenore K. Sullivan Boulevard,
Dr. Martin Luther King Drive and North Commercial
Street. The donation of this land will also help
with GRG's plans to raise the grade level of Lenore K.
Sullivan Boulevard, designed to alleviate flooding of the
street during most high water incidents common to
this part of the Mississippi River and
provide opportunities to enjoy the river on a promenade and a
dedicated trail. The connection of the Confluence
and Mississippi River Greenways at the Arch will provide the
backbone of the River Ring, allowing people to ride, walk and
enjoy the river.
"The Pinnacle Entertainment land is a key link in our plans
to build out the River Ring; it will allow development of a public
park north of Eads Bridge and adjacent to the trail." said Susan
Trautman, executive director of Great Rivers Greenway. "Thanks
to Pinnacle Entertainment and Lumiere Place, people will have
an opportunity to not only ride the trail, but will be able to
spend time with friends and family in a vibrant public park
adjacent to the Mississippi. We are deeply appreciative of
their generosity."
The City of St. Louis will receive an additional
$500,000 to fund supplemental police activities in the
area, the nature of which will be determined by the City and the
St. Louis Police. This donation will be paid in $100,000 increments
over a period of five years.
In total, these donations fulfill a portion of the Redevelopment
Agreement between Pinnacle Entertainment and the City of St. Louis,
which called for the company to make additional investments and
spur development in the area around Lumiere Place within five years
of the property's opening. Lumiere opened on December 19, 2007.
"Lumiere Place has been an important part of downtown since it
opened in 2007. Today, by making significant commitments to
Downtown, the Arch and to improving public safety, Pinnacle
Entertainment has once again demonstrated their commitment to St.
Louis," said Mayor Francis G. Slay. "These donations will
make a big difference for Downtown, the City, and entire region. I
am grateful for Pinnacle Entertainment's corporate
citizenship."
"We see each of these projects as a positive way to strengthen
our downtown community, creating a more dynamic place for our team
members to live and work and our guests to enjoy," said Neil
Walkoff, Executive Vice President of Regional Operations for
Pinnacle Entertainment. "These partnerships are a rewarding way to
significantly improve quality of life in our neighborhoods and to
attract new visitors to the region."
About Lumiere Place Casino & Hotels
Lumiere Place includes a 75,000-square-foot casino with 2,000
slot machines, more than 55 table games, and a dedicated poker
room. The resort boasts several restaurants including Stadium
Sports Bar and Grill, Cielo, Asia, The Kitchen Buffet & Bistro
and Peet's Coffee & Tea. Nightlife attractions include
the piano bar, Aqua, and the high-energy lounge, Globar.
Lumiere Place also features a large VIP lounge available to select
casino customers.
Lumiere Place also includes Lumiere Link, a 400-foot tunnel
featuring two sections of moving walkway. It provides an easy
and secure pedestrian link between St. Louis' central business
district, the Lumiere Place resort and the Mississippi
Riverfront. Also located on the Lumiere Place complex are the
luxurious Four Seasons Hotel St. Louis, the first and only AAA Five
Diamond property in Missouri and the all-suite, upscale HoteLumiere
which features a four-story waterfall inside the atrium. To
learn more about Lumiere Place, please visit
http://www.lumiereplace.com, or follow us on Twitter @Lumiere
Place.
About Pinnacle Entertainment
Pinnacle Entertainment, Inc. owns and operates seven casinos,
located in Louisiana, Missouri, Indiana, and is redeveloping a
racetrack in Ohio. In addition, Pinnacle 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.
Pinnacle Entertainment, Inc. is publicly traded on the New York
Stock Exchange under the ticker symbol PNK. To learn more
about Pinnacle Entertainment, please visit www.pnkinc.com .
The Pinnacle Entertainment, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=13121
CONTACT: PRESS CONTACT:
Candice Coleman
Candice.Coleman@lumiereplace.com
314.881.7574
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