Issue 255
August 1 - August 7, 2005
Volume 5
page 2

Pinnacle Entertainment Opens Spectacular New Casino in Neuquen, Argentina
Press Release

NEUGEN, Argentina - Pinnacle Entertainment, Inc. announced that, on July 27, the Company opened its replacement casino in Neuquen, Argentina. The new Casino Magic Argentina facility includes a larger and much more lavish casino; a major, upscale restaurant; a wine bar; three other casino bars; and a large entertainment venue, located approximately one mile from the former, antiquated leased facility. The project was completed approximately on budget, at US$15 million, and was funded almost entirely with Casino Magic Argentina's cash resources and retained earnings.

Pinnacle currently has a concession agreement with the Province of Neuquen, which provides for the Company's exclusive operation of casinos within approximately 33 miles of its facilities. With the opening of the new facility, Pinnacle's concession agreement will extend until 2016 instead of expiring in December 2006. The Company is also planning to build a small hotel within the Province of Neuquen, which under the concession agreement further extends the term to 2021.

"I am proud of the many people who have designed and prepared this new casino for opening, and honored to share the ribbon cutting with Governor Jorge Sobisch and Mayor Horacio Quiroga," said Daniel R. Lee, Chairman and CEO of Pinnacle Entertainment. "Neuquen is a growing, prosperous and stable part of Argentina and the commercial capital of the Patagonia region. We are excited to have built in Neuquen what I believe is now the leading casino facility in Latin America."




IGT Moves to buy Online Casino Software Company

As Reported by

One of the world's leading gaming manufacturers, International Game Technology (IGT), has confirmed its intent to acquire WagerWorks by August 2005, for around $90 million. WagerWorks is an online gaming business that has an impressive portfolio of clients including BSkyB, Sony and Virgin.

Chief Executive Officer of IGT, TJ Matthews, commented, "The acquisition of WagerWorks will help the distribution of IGT game content across new channels and mediums including the internet, mobile devices, and interactive television. WagerWorks' adherence to a strict compliance policy ensures that operators offer the company's products and services to end users in a responsible manner. We are very excited to work with their customer base, content providers and management team to accelerate and enhance WagerWorks' growth prospects."WagerWorks offer IGT an extensive range of casino based online games such as poker rooms, "Wheel of Fortune" and "The Price is Right".

Landmark hotel closing expansion
As Reported by The Sun Herald

BILOXI, Mississippi - The landmark Broadwater Hotel, which was the Coast's premier resort in its heyday, will shut its doors for good on Sunday.The new owners of the hotel have applied for a demolition permit, but the city of Biloxi had not issued one as of Friday afternoon. Roy Anderson III, who owns the property with W.C. "Cotton" Fore, said the structure probably won't be demolished until later this year or early next year. A lifestyle mall, an open-air configuration of upscale specialty stores, is proposed for the site.

Anderson and Fore's company, Broadwater Development LLP, plan to sell the 38 acres occupied by the hotel and its cottages to an Atlanta company that specializes in retail development. The two Coast businessmen own the entire 240-acre Broadwater Resort, including its golf course and marina. They purchased the property in a bankruptcy auction.

The President Casino, which will be moved to Hancock County next year, will continue to operate. Nor is the Broadwater Tower, which has different ownership, closing at the present time. But the Tower hotel, built many years after the original Broadwater opened, will also be demolished to make way for a high-rise condominium.

Many Biloxians have fond memories of the Broadwater Beach Hotel, which opened in 1939. Its first owner was Pete Martin Sr., a legendary Coast gambler and rum runner, who operated a casino in the hotel when gambling was illegal. Joe Brown, a Texan who had made millions in the oil business, bought the property in 1958. When he died, his widow, Dorothy Brown, upgraded the property. She hired architects to give it a modern look, had the marina built and developed golf packages to attract tourists.Over the last decade, the hotel faded from its former glory. Its last owner, President Casinos Inc., made no major improvements to the property as other casino companies built new hotels along the Coast. President Casinos had to sell its two casinos in Biloxi and St. Louis after filing for bankruptcy.

Josh Gracin

Tropicana Casino & Resort: Former American Idol 2 contestant, Josh Gracin performs songs from his self-titled, debut album. The Michigan native captures the world-class voice and performing magic that made him such a star on American Idol 2.

Date: September 30 & October 1

Ticket Price: Starting at $35

For more information please call: 1-800-736-1420
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