8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 21, 2010

PINNACLE ENTERTAINMENT, INC.
(Exact name of registrant as specified in its charter)

Delaware	001-13641	95-3667491
(State or other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

3800 Howard Hughes Parkway Las Vegas, Nevada	89169
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s telephone number, including area code: (702) 784-7777

N/A

(Former name or former address if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01. Other Events.

On January 21, 2009, Pinnacle Entertainment, Inc. (the “Company”) received a letter from the Executive Director of the Missouri Gaming Commission (the “MGC”) stating that at the MGC’s meeting on January 27, 2010, the MGC staff will recommend that the casino license for the Company’s President Casino be revoked and the casino discontinue operations as of July 1, 2010. The letter stated that the MGC is no longer able to allow licensure of what it believes to be an obsolete and underachieving gaming facility. On January 22, 2010, the Company filed a petition with the Missouri Court of Appeals, Western District, seeking a stay of the MGC’s proceedings. This decision by the MGC does not affect either Lumiére Place or our River City facility in St. Louis County, which we expect to open in March 2010.

A copy of the letter from the Executive Director of the MGC is attached as Exhibit 99.1 to this Current Report.

 Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.	Description
Exhibit 99.1	Letter dated January 20, 2010 from the Executive Director of the Missouri Gaming Commission

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.  

	PINNACLE ENTERTAINMENT, INC. (Registrant)
Date: January 22, 2010	By:	/s/ Steven H. Capp
		Stephen H. Capp Executive Vice President and Chief Financial Officer

 

INDEX TO EXHIBITS

Exhibit No.	Description
Exhibit 99.1	Letter dated January 20, 2010 from the Executive Director of the Missouri Gaming Commission

EX-99.1

Exhibit 99.1

Mr. John V. Giovenco Interim Chief Executive Officer 3800 Howard Hughes Parkway Las Vegas, NV 89169 Dear Mr. Giovenco: On January 22, 2009, I inquired of Pinnacle as to its plans to improve the President Casino. Thereafter, we exchanged correspondence, invited your representatives in for a closed meeting and held an extensive open hearing. The President’s overall performance and future plans were the main topics covered in our communications and the central issues addressed at both hearings. Repeatedly, the Commission has relayed its concerns on this matter and has requested Pinnacle submit plans to address the President’s inadequate declining performance. This past year the Commission ruled out the possibility of moving or replacing the President with another boat. During that time, Pinnacle has continued to operate the President at an unacceptable level through a deliberate minimization of offerings with a resulting decline in performance. The company’s stated policy of trying to “just sustain the losses for as long as we have to” despite the loss of revenue to the State, is contrary to the expectations of the Commission and the people of our State. It has become abundantly clear Pinnacle Intends to hold on to the President’s license as long as possible With no intention of improving its operations. Pinnacle now brings forth a last minute venture to replace the President’s hull. Thus, with regard to this latest proposal, we can only conclude that this is another ploy aimed at retaining the President’s license while its operations continue In decline. Pinnacle’s actions and words, with regard to the future of the President Casino, are indicative of a policy that is unacceptable to the Commission because they are not in the best interests of the State. Consequently, at the Missouri Gaming Commission meeting on January 27, 2010, staff will recommend the President’s license be revoked and the casino discontinue its operations as of July 1, 2010. This will give you approximately five months during which time you will be opening River City and a new revenue stream. Further, it will allow you time to close out the President’s operations.

Mr. John V. Giovenco January 20, 2010 Page 2 As stated on prior occasions, Pinnacle Entertainment is a good corporate citizen and we look forward to a continued good working relationship. We are, however, no longer able to allow the licensure of an obsolete and underachieving gaming facility in the Stale of Missouri. cc: Jack Godfrey Jerry Riffel Todd George Chris Strobbe Commissioners