L'Auberge
du Lac Temporarily Suspends Operations
Pinnacle Entertainment,
Inc. announced today that L'Auberge du Lac,
the Company's casino resort in Lake Charles,
Louisiana, is in the process of closing in preparation
for Hurricane Rita, which is expected to pass
through or near Lake Charles within the next
48 hours. L'Auberge du Lac is approximately
30 miles from the Gulf of Mexico along the Calcasieu
River. Management is also monitoring the situation
carefully vis-a-vis the Company's properties
in Bossier City and Harvey, Louisiana.
In response to investor inquiries,
Pinnacle noted, as it had indicated following
Hurricane Katrina, that the Company has in force
some $400 million of insurance policies for
business interruption and property insurance.
Such insurance is placed with an assortment
of insurance carriers, all of which currently
are rated A- or better. The insurance is underwritten
on a basis that any claims pursuant to one named
hurricane do not diminish the potential $400
million claim from a subsequent, different hurricane.
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