UNLV Gaming Abstract: Pinnacle Entertainment

UNLV Gaming Abstract
Pinnacle Entertainment Company Profile

Why the company matters Pinnacle Entertainment, Inc. (Pinnacle) is a diversified, multi-jurisdictional owner and operator of gaming entertainment facilities. The Company owns and operates five domestic casinos located in Nevada, Louisiana and Indiana. It also owns a hotel in St. Louis, Missouri. The Company owns a hotel casino site and has significant insurance claims related to a hotel casino previously operated in Biloxi, Mississippi. Outside the United States, Pinnacle currently operates casinos in Argentina.

1938: Hollywood Park Turf Club organized in California, to operate the Hollywood Park racetrack in Inglewood

1981: HPTC incorporated as Hollywood Park Realty Enterprises, Inc.

1992: Company name changed to Hollywood Park, Inc.

1994: Company acquired Sunflower Racing, Inc., a greyhound and thoroughbred racing facility located in Kansas

1994: Turf Paradise, Inc., a thoroughbred racing facility located in Arizona.

1994: Hollywood Park Casino, a card room, opens at the Hollywood Park racetrack

1996: Crystal Park Hotel and Casino, a card room and hotel, opens in Compton, California

1997: Hollywood Park, Inc. merges with Boomtown Casinos, and acquires properties in Verdi, Nevada ("Boomtown Reno"), Biloxi, Mississippi ("Boomtown Biloxi"), Harvey, Louisiana ("Boomtown New Orleans"), though it sold off Boomtown Las Vegas, which became the Silverton

1998: Hollywood Park, Inc. merges with Casino Magic, acquiring properties in Bay St. Louis, Mississippi, ("Casino Magic Bay St. Louis") Biloxi, Mississippi ("Casino Magic Biloxi") and Bossier City, Louisiana, ("Casino Magic Bossier"), and concession agreements for two Argentinian casinos (Casino Magic San Martin de los Andes and Casino Magic Neuquén)

1998: Hollywood Park agrees to build and manage the Legends Casino for the Yakama Tribe in Yakima, Washington

1999: Hollywood Park sells its bankrupt Sunflower subsidiary, which had operated the Woodlands racetrack in Kansas City, Kansas

1999: Hollywood Park Race Track and Hollywood Park-Casino sold

1999: The company leases Hollywood Park Casinoand enters into an agreement with Leo & Ivy Chu (Century Gaming Management) in September 1999 to operate it as a sublessee

2000: Hollywood Park, Inc. becomes Pinnacle Entertainment

2000: Pinnacle opens the Belterra Casino Resort, a hotel and riverboat casino resort in Switzerland County, Indiana

2000: Pinnacle sells Turf Paradise, Inc. (Arizona)

2000: Pinnacle sells Casino Magic Bay St. Louis to Penn National Gaming

2001: Lease agreement with the Yakama Indians terminated

2002: Boomtown New Orleans completes $10 million expansion

2002: Casino Magic Bossier City is renovated and rebranded Boomtown Bossier City

2002: Indiana law changed to allow dockside gambling

2003: Ground broken on Lake Charles casino project

2003: Casino Magic Junin de los Andes (Argentina) opens

2005: L'Auberge du Lac resort opens in Lake Charles, Louisiana

2005: Casino Magic Biloxi closed by Hurricane Katrina