Filed by Bowne Pure Compliance

0001362310-08-007504.txt : 20081120 0001362310-08-007504.hdr.sgml : 20081120 20081119173751 ACCESSION NUMBER: 0001362310-08-007504 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20081120 DATE AS OF CHANGE: 20081119 GROUP MEMBERS: KENMARE OFFSHORE MANAGEMENT, L.L.C. GROUP MEMBERS: KENMARE SELECT MANAGEMENT, L.L.C. GROUP MEMBERS: MARK MCGRATH SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PINNACLE ENTERTAINMENT INC CENTRAL INDEX KEY: 0000356213 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MISCELLANEOUS AMUSEMENT & RECREATION [7990] IRS NUMBER: 953667491 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-33517 FILM NUMBER: 081201970 BUSINESS ADDRESS: STREET 1: 3800 HOWARD HUGHES PRKWY STREET 2: SUITE 1800 CITY: LAS VEGAS STATE: NV ZIP: 89109 BUSINESS PHONE: 702-784-7777 MAIL ADDRESS: STREET 1: 3800 HOWARD HUGHES PRKWY STREET 2: SUITE 1800 CITY: LAS VEGAS STATE: NV ZIP: 89109 FORMER COMPANY: FORMER CONFORMED NAME: HOLLYWOOD PARK INC/NEW/ DATE OF NAME CHANGE: 19920703 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Kenmare Capital Partners, L.L.C. CENTRAL INDEX KEY: 0001324869 IRS NUMBER: 061503286 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 712 FIFTH AVENUE STREET 2: NINTH FLOOR CITY: NEW YORK STATE: NY ZIP: 10119 BUSINESS PHONE: 212.521.5987 MAIL ADDRESS: STREET 1: 712 FIFTH AVENUE STREET 2: NINTH FLOOR CITY: NEW YORK STATE: NY ZIP: 10119 FORMER COMPANY: FORMER CONFORMED NAME: Green River Management I, L.L.C. DATE OF NAME CHANGE: 20050425 SC 13G/A 1 c77547sc13gza.htm SC 13G/A Filed by Bowne Pure Compliance


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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934
(Amendment No. 1)*

PINNACLE ENTERTAINMENT, INC.

(Name of Issuer)

Common Stock, $.10 par value

(Title of Class of Securities)

723456109

(CUSIP Number)

November 14, 2008

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

o Rule 13d-1(b)

þ Rule 13d-1(c)

o Rule 13d-1(d)

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).


CUSIP No.		723456109


1	NAMES OF REPORTING PERSONS Kenmare Capital Partners, L.L.C.


2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
	(a) o
	(b) o

3	SEC USE ONLY



4	CITIZENSHIP OR PLACE OF ORGANIZATION

	Delaware

		5	SOLE VOTING POWER

NUMBER OF			1,603,758

SHARES		6	SHARED VOTING POWER
BENEFICIALLY
OWNED BY			0

EACH		7	SOLE DISPOSITIVE POWER
REPORTING
PERSON			1,603,758

WITH:		8	SHARED DISPOSITIVE POWER

			0

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

	1,603,758

10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

	o

11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

	2.6%**

12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

	OO

**SEE ITEM 4(b).

2 of 10


CUSIP No.		723456109


1	NAMES OF REPORTING PERSONS Kenmare Select Management, L.L.C.


2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
	(a) o
	(b) o

3	SEC USE ONLY



4	CITIZENSHIP OR PLACE OF ORGANIZATION

	Delaware

		5	SOLE VOTING POWER

NUMBER OF			60,000

SHARES		6	SHARED VOTING POWER
BENEFICIALLY
OWNED BY			0

EACH		7	SOLE DISPOSITIVE POWER
REPORTING
PERSON			60,000

WITH:		8	SHARED DISPOSITIVE POWER

			0

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

	60,000

10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

	o

11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

	0.1%**

12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

	OO

**SEE ITEM 4(b).

3 of 10


CUSIP No.		723456109


1	NAMES OF REPORTING PERSONS Kenmare Offshore Management, L.L.C.


2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
	(a) o
	(b) o

3	SEC USE ONLY



4	CITIZENSHIP OR PLACE OF ORGANIZATION

	Delaware

		5	SOLE VOTING POWER

NUMBER OF			1,321,207

SHARES		6	SHARED VOTING POWER
BENEFICIALLY
OWNED BY			0

EACH		7	SOLE DISPOSITIVE POWER
REPORTING
PERSON			1,321,207

WITH:		8	SHARED DISPOSITIVE POWER

			0

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

	1,321,207

10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

	o

11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

	2.2%**

12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

	OO

**SEE ITEM 4(b).

4 of 10


CUSIP No.		723456109


1	NAMES OF REPORTING PERSONS Mark McGrath


2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
	(a) o
	(b) o

3	SEC USE ONLY



4	CITIZENSHIP OR PLACE OF ORGANIZATION

	U.S. Citizen

		5	SOLE VOTING POWER

NUMBER OF			2,984,965

SHARES		6	SHARED VOTING POWER
BENEFICIALLY
OWNED BY			0

EACH		7	SOLE DISPOSITIVE POWER
REPORTING
PERSON			2,984,965

WITH:		8	SHARED DISPOSITIVE POWER

			0

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

	2,984,965

10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

	o

11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

	4.9%**

12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

	IN

**SEE ITEM 4(b).

5 of 10

SCHEDULE 13G/A

This Amendment No. 1 to Schedule 13G (the “Amendment”) is being filed on behalf of Kenmare Capital Partners, L.L.C., a Delaware limited liability company (“Kenmare Capital Partners”), Kenmare Select Management, L.L.C., a Delaware limited liability company (“Kenmare Select Management”) and Kenmare Offshore Management, L.L.C., a Delaware limited liability company (“Kenmare Offshore Management,” and together with Kenmare Capital Partners and Kenmare Select Management, “Kenmare”), and Mr. Mark McGrath, principal of Kenmare (together with Kenmare, the “Reporting Persons”).

This Amendment relates to the shares of Common Stock, $.10 par value (the “Common Shares”), of Pinnacle Entertainment, Inc., a Delaware corporation (the “Issuer”), purchased by Kenmare for the account of (i) Kenmare Fund I, L.P. (“Kenmare I”), of which Kenmare Capital Partners is the general partner, (ii) Kenmare Select Fund, L.P. (“Kenmare Select”), of which Kenmare Select Management is the general partner, and (iii) Kenmare Offshore Fund, Ltd. (“Kenmare Offshore”), for which Kenmare Offshore Management acts as investment manager.

This Amendment is being filed to report that the Reporting Persons no longer beneficially own the more than 5% of the Issuer’s Common Shares.


Item 1(a)		Name of Issuer.

Pinnacle Entertainment, Inc.


Item 1(b)		Address of Issuer’s Principal Executive Offices.

3800 Howard Hughes Parkway
Las Vegas, Nevada 89169


Item 2(a)		Name of Person Filing.

Kenmare Capital Partners, L.L.C., Kenmare Select Management, L.L.C.,
Kenmare Offshore Management, L.L.C. and Mark McGrath


Item 2(b)		Address of Principal Business Office, or, if none, Residence.

712 5^th Avenue, 9^th Floor
New York, NY 10019


Item 2(c)		Citizenship or Place of Organization.

Kenmare Capital Partners, Kenmare Select Management and Kenmare Offshore Management are each a limited liability company organized under the laws of the State of Delaware. Mark McGrath is the principal of Kenmare and a United States citizen.

6 of 10


Item 2(d)		Title of Class of Securities.

Common Stock, $.10 par value


Item 2(e)		CUSIP Number.

723456109


Item 3		Reporting Person.

Inapplicable.


Item 4		Ownership.

	(a)		Kenmare and Mr. McGrath are the beneficial owners of 2,984,965 Common Shares.

	(b)		Kenmare and Mr. McGrath are the beneficial owners of 4.9% of the outstanding Common Shares. This percentage is determined by dividing 2,984,965 by 59,981,181, the number of Common Shares issued and outstanding as of November 5, 2008 as reported in the Form 10-Q filed on November 11, 2008 with the Securities and Exchange Commission.

	(c)		Kenmare Capital Partners, as the general partner of Kenmare I, has the sole power to vote and dispose of the 1,603,758 Common Shares held by Kenmare I. Kenmare Select Management, as the general partner of Kenmare Select, has the sole power to vote and dispose of the 60,000 Common Shares held by Kenmare Select. Kenmare Offshore Management, as the investment manager of Kenmare Offshore, has the sole power to vote and dispose of the 1,321,207 Common Shares held by Kenmare Offshore. As the principal of Kenmare, Mr. McGrath may direct the vote and disposition of the 2,984,965 Common Shares beneficially owned by Kenmare.

The filing of this Amendment shall not be construed as an admission that any of the Reporting Persons is, for the purposes of Section 13(d) or 13(g) of the Securities Exchange Act of 1934, the beneficial owner of any of the 3,053,596 shares of Common Shares owned by Kenmare I, Kenmare Select or Kenmare Offshore. Pursuant to Rule 13d-4, each of the Reporting Persons disclaims all such beneficial ownership.


Item 5		Ownership of Five Percent or Less of a Class.

If this statement is being filed to report the fact that as of the date hereof the Reporting Persons have ceased to be the beneficial owners of more than five percent of the class of securities, check the following [X].


Item 6		Ownership of More Than Five Percent on Behalf of Another Person.

Inapplicable.

7 of 10


Item 7		Identification and Classification of the Subsidiary which Acquired the Security Being Reported On by the Parent Holding Company.

Inapplicable.


Item 8		Identification and Classification of Members of the Group.

Inapplicable.


Item 9		Notice of Dissolution of Group.

Inapplicable.


Item 10		Certification.

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.


Exhibits		Exhibit 1

Joint Filing Agreement dated November 18, 2008, between Kenmare and Mark McGrath.

8 of 10

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date: November 18, 2008


	Kenmare Capital Partners, L.L.C.
	By:	/s/ Mark McGrath
		Mark McGrath, Principal


	Kenmare Select Management, L.L.C.
	By:	/s/ Mark McGrath
		Mark McGrath, Principal


	Kenmare Offshore Management, L.L.C.
	By:	/s/ Mark McGrath
		Mark McGrath, Principal



	/s/ Mark McGrath
	Mark McGrath

9 of 10

EXHIBIT INDEX


Exhibit No.		Description
1		Joint Filing Agreement dated November 18, 2008, between Kenmare and Mark McGrath.

10 of 10

EX-1 2 c77547exv1.htm EXHIBIT 1 Filed by Bowne Pure Compliance

EXHIBIT 1

JOINT FILING AGREEMENT

In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, the undersigned agree to the joint filing on behalf of each of them of a Statement on Schedule 13G (including any and all amendments thereto) with respect to the Shares of Common Stock, $.10 par value, of Pinnacle Entertainment, Inc., and further agree that this Joint Filing Agreement shall be included as an Exhibit to such joint filings.

The undersigned further agree that each party hereto is responsible for the timely filing of such Statement on Schedule 13G and any amendments thereto, and for the accuracy and completeness of the information concerning such party contained therein; provided, however, that no party is responsible for the accuracy or completeness of the information concerning any other party, unless such party knows or has reason to believe that such information is inaccurate.

This Joint Filing Agreement may be signed in counterparts with the same effect as if the signature on each counterpart were upon the same instrument.

IN WITNESS WHEREOF, the undersigned have executed this Agreement as of November 18, 2008.


	Kenmare Capital Partners, L.L.C.
	By:	/s/ Mark McGrath
		Mark McGrath, Principal


	Kenmare Select Management, L.L.C.
	By:	/s/ Mark McGrath
		Mark McGrath, Principal


	Kenmare Offshore Management, L.L.C.
	By:	/s/ Mark McGrath
		Mark McGrath, Principal



	/s/ Mark McGrath
	Mark McGrath