PINNACLE ENTERTAINMENT, INC.

Pinnacle Entertainment realizes most gamblers don't know when they've reached their peak. The Las Vegas-based gaming company actually has no casinos in Vegas; instead, the regional casino operator owns seven casinos in other locations. Most of its properties cater to locals or those within easy driving distance. Three of Pinnacle's locations operate under the Boomtown banner. Its L'Auberge du Lac Hotel & Casino property in Lake Charles, Louisiana, is the company's largest casino resort. In St. Louis, the company owns Lumière Place (including the Lumière Place Casino, the Pinnacle-owned Four Seasons Hotel St. Louis, and HoteLumière) and the River City Casino. 

Geographic Reach

The company has casinos in Indiana, Louisiana, Missouri, and Reno, Nevada. Four of its eight gaming properties are located in Louisiana. In fiscal 2012 Pinnacle derived 53% of its revenues from these four casinos and 32% from one of them, L'Auberge du Lac in Lake Charles, Louisiana.

Sales and Marketing

Pinnacle spent about $27 million on advertising and marketing promotions in fiscal 2012.

Financial Performance

The company's revenue increased by 5% to $1.197 billion in fiscal 2012 from $1.141 billion in fiscal 2011. The growth was powered by increases in revenue from 6 of 8 casinos. L'Auberge du Lac in Lake Charles, its largest property, had a 2% increase in revenues, as a result of a continued focus on the efficiency of the operation and utilization of assets, and due to a non-recurring charge related to the re-launch of its my choice customer loyalty program in April 2011.

Strategy

Pinnacle is focused on enhancing operating results at its core US properties and to build shareholder value. Improvements made throughout its properties have helped increase gaming revenues. Operating efficiencies have been achieved through consolidating tasks by leveraging shared services where appropriate to do so.

In 2012 Pinnacle made a major investment at its Boomtown Casino New Orleans property with a planned $20 million hotel project. The 150-room five-story hotel will include suites, a fitness center, and meeting space along with 250 additional parking spaces.

Mergers and Acquisitions

In 2012 the company closed on an agreement to purchase substantially all of the assets of Federated Sports & Gaming, Inc. and Federated Heartland, Inc., owners of the Heartland Poker Tour and other related assets and intellectual property, for total consideration of $4.6 million. These entities own the Heartland Poker Tour and other related assets and intellectual property. The Heartland Poker Tour is a live and televised poker tournament series.

Pinnacle also has plans to acquire Ameristar Casinos in an all cash transaction valued at $2.8 billion, including assumed debt. Ameristar operates the following casinos: Ameristar Casino Resort Spa St. Charles (serving the St. Louis, Missouri metropolitan area); Ameristar Casino Hotel Kansas City (serving the Kansas City metropolitan area); Ameristar Casino Hotel Council Bluffs (serving the Omaha, Nebraska metropolitan area and southwestern Iowa); Ameristar Casino Resort Spa Black Hawk (serving the Denver, Colorado metropolitan area); Ameristar Casino Hotel Vicksburg (serving Jackson, Mississippi and Monroe, Louisiana); Ameristar Casino Hotel East Chicago (serving the Chicagoland area); and Cactus Petes Resort Casino and The Horseshu Hotel and Casino in Jackpot, Nevada (serving Idaho and the Pacific Northwest).

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PINNACLE ENTERTAINMENT, INC.


3980 Howard Hughes Pkwy
Las Vegas, NV 89169-0992
Phone: 1 (702) 541-7777
Fax: 1 (702) 7847778
www.pnkinc.com

STATS


  • Employer Type: Public
  • Stock Symbol: PNK,
  • Stock Exchange: , NYSE
  • Chairman: Richard Goeglein
  • Chief Financial Officer; Executive Vice President: Carlos Ruisanchez
  • Chief Executive Officer: Anthony Sanfilippo

Major Office Locations

  • Las Vegas, NV

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Health Service Administrator

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