Pinnacle Entertainment plans repurchase of $200 million 8¼% notes using senior notes proceeds

By Jennifer Chiou

New York, April 29 - Pinnacle Entertainment Inc. announced that it intends to redeem its $200 million of 8¼% senior subordinated notes due 2012 using the majority of the net proceeds from a proposed offering of $250 million of senior subordinated notes due 2020.

Any remaining proceeds are earmarked for the repayment of a portion of the outstanding revolving credit borrowings under the company's credit facility.

Pinnacle Entertainment is a Las Vegas-based owner and operator of casinos.

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