Today, Pinnacle Entertainment, Inc. announced that its L'Auberge du Lac 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.

Additionally, to put investors at ease, the gaming company said that it has $400 million of insurance policies for business interruption and property insurance. Such insurance is placed with an assortment of insurance carriers. 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.

The other area casinos near Lake Charles are believed to be doing the same. We wish them all luck.