Pinnacle Board Focused on Creating Shareholder Value
Pinnacle Will Respond Promptly
LAS VEGAS, July 7, 2015 (GLOBE NEWSWIRE) -- Pinnacle Entertainment, Inc. (NYSE:PNK) ("Pinnacle" or "the Company") today confirmed that its Board of Directors has received a letter from Gaming and Leisure Properties, Inc. ("GLPI") regarding a revised proposal to acquire Pinnacle's real estate assets. The Pinnacle Board of Directors and management team are focused on creating shareholder value, and to that end have engaged in ongoing negotiations with GLPI in order to provide appropriate value to Pinnacle shareholders, while at the same time working through Pinnacle's REIT separation plan. Pinnacle's Board will review GLPI's revised proposal and respond promptly.
Skadden, Arps, Slate, Meagher & Flom LLP and Gibson, Dunn & Crutcher LLP are acting as Pinnacle's legal advisors, and Goldman, Sachs & Co. is serving as its financial advisor.
About Pinnacle Entertainment
Pinnacle Entertainment, Inc. owns and operates 15 gaming entertainment properties, located in Colorado, Indiana, Iowa, Louisiana, Mississippi, Missouri, Nevada, and Ohio. The Company also holds a majority interest in the racing license owner, as well as a management contract, for Retama Park Racetrack outside of San Antonio, Texas.
CONTACT: Investor Relations Vincent J. Zahn, CFA Vice President, Finance, Investor Relations & Treasury (702) 541-7777 or firstname.lastname@example.org Media Relations Tracy West Vice President, Communications (702) 541-7777 or email@example.com Dan Katcher / Sharon Stern / Joe Berg Joele Frank, Wilkinson Brimmer Katcher (212) 355-4449Source:Pinnacle Entertainment