Pinnacle Amends Merger Agreement with Aztar
Press Release

LAS VEGAS – Pinnacle Entertainment, Inc. (NYSE: PNK) today announced that its board of directors has unanimously approved an increase in the per-share price under the Company's merger agreement with Aztar Corporation (NYSE: AZR) to $51.00 per share in cash and stock, subject to adjustment. The consideration consists of $47.00 per share in cash and $4.00 per share of Pinnacle common stock, subject to a collar provision. The purchase price for each share of Aztar Series B preferred stock has been increased to $497.09 in cash and $42.31 in Pinnacle common stock, subject to a collar provision. The fully financed transaction is valued at $2.58 billion, including approximately $1.97 billion in equity on a fully diluted basis and approximately $677 million of indebtedness.

All other aspects of the merger agreement remain unchanged, except for the termination fee, which has been increased to $52.16 million, plus reimbursement of expenses up to $25.84 million.

As announced on March 13, 2006, Pinnacle and Aztar entered into a definitive merger agreement under which Pinnacle would acquire all of the outstanding common shares of Aztar for $38.00 per share in cash. In raising the proposed merger price to $51.00 per share, Pinnacle exercised its right under the merger agreement to respond to a third-party proposal.

Oregon Tribe Applies for Casino
As Reported by KBCI News

OREGON – "The Treasure Valley could become home to casino-style gambling--possibly bringing hundreds of jobs to Ontario, Oregon.

"The Burns Peiute tribe has applied to the Bureau of Indian Affairs (BIA) to build a casino off the reservation.

"…The tribe hasn't purchased the land yet, but the casino could be located just outside Ontario city limits where survey crews are already working on plans to build a cloverleaf near a new Interstate 84 exchange. As a county judge, a position similar to a county commission seat in Idaho, Russ Hursh says he started talking to tribal members from three tribes about the plans more than three years ago…"