Lehman Commercial Paper Inc. 745 Seventh Avenue New York, New York 10019

EXHIBIT 10.1

Strictly Confidential

April 18, 2006

AMENDED AND RESTATED COMMITMENT LETTER

PERSONAL AND CONFIDENTIAL

Pinnacle Entertainment, Inc.

3800 Howard Hughes Parkway

Las Vegas, Nevada 89109

Attention:    Daniel R. Lee, Chairman of the Board and Chief Executive Officer

Ladies and Gentlemen:

This amended and restated commitment letter agreement (together with all exhibits and schedules hereto, the “Commitment Letter”) will confirm the understanding and agreement among Lehman Commercial Paper Inc. (“LCPI”), Lehman Brothers Inc. (“Lehman Brothers”), Bear, Stearns & Co. Inc. (“Bear Stearns” together with Lehman Brothers, the “Arrangers”) and Bear Stearns Corporate Lending Inc. (“BSCL”; together with LPCI, the “Initial Lenders”; the Initial Lenders and the Arrangers being referred to herein collectively as the “Commitment Parties”) and Pinnacle Entertainment, Inc., a Delaware corporation (together with each of its subsidiaries, the “Company”), in connection with the proposed financing for the acquisition of all of the issued and outstanding capital stock of Aztar Corporation (together with each of its subsidiaries, the “Acquired Business”). We understand that the Company proposes to acquire all of the issued and outstanding capital stock of the Acquired Business (the “Acquisition”). The date on which the Acquisition is consummated is referred to as the “Closing Date.” This Commitment Letter amends, restates and replaces in full the Commitment Letter, dated March 13, 2006, between us and you (the “Original Commitment Letter”).

You have advised us that the total funds needed to finance the Acquisition (including (i) fees and expenses (which will be approximately $153 million), (ii) the refinancing of approximately $686 million of existing debt of the Acquired Business (the “Acquired Business Existing Public Debt”), (iii) the refinancing of approximately $646 million of existing debt of the Company (the “Company Existing Public Debt”; together with the Acquired Business Existing Public Debt, the “Existing Public Debt”) and (iv) premiums in connection with the redemption of the Existing Public Debt of approximately $73 million) will be approximately $3,211 million and that such funds will be provided from the following sources:

As used below, the defined term “Company” will mean both the Company prior to the Acquisition and, as applicable, the Company together with the Acquired Business, after giving effect to the Acquisition.

1. The Commitments.

(a) You have requested (i) that the Initial Lenders (collectively with each other entity that becomes a lender under the Credit Facilities, the “Senior Lenders”) commit to provide the entire amount of the Credit Facilities upon the terms and subject to the conditions set forth in this Commitment Letter and in the Summary of Terms of Credit Facilities attached hereto as Exhibit A (the “Credit Facilities Term Sheet”) and (ii) that the Initial Lenders (collectively with each other entity that becomes a lender under the Interim Loan Facility, the “Interim Lenders”; the Interim Lenders and the Senior Lenders are referred to herein collectively as the “Lenders”) commit to provide the entire amount of the Interim Loan Facility upon the terms and subject to the conditions set forth or referred to in this Commitment Letter and in the Summary of Terms of Interim Loans attached hereto as Exhibit B (the “Interim Loans Term Sheet” and, together with the Credit Facilities Term Sheet, the “Term Sheets”).

(b) Based on the foregoing, (i) LCPI is pleased to confirm by this Commitment Letter its commitment to you to provide or cause one or more of its affiliates to provide 50% of the Credit Facilities and (ii) BSCL is pleased to confirm by this Commitment Letter its commitment to you to provide or cause one or more of its affiliates to provide 50% of the Credit Facilities (collectively, the “Senior Loan Commitment”).

(c) Based on the foregoing, (i) LCPI is pleased to confirm by this Commitment Letter its commitment to you to provide or cause one or more of its affiliates to provide 50% of the Interim Loan Facility and (ii) BSCL is pleased to confirm by this Commitment Letter its commitment to you to provide or cause one or more of its affiliates to provide 50% of the Interim Loan Facility (collectively, the “Interim Loans Commitment” and, together with the Senior Loan Commitment, the “Commitments”). You agree that if the Initial Lenders determine, in consultation with the Company, that it would be advisable to structure the loans under the Interim Loan Facility (the “Interim Loans”) as securities to facilitate syndication of the Interim Loans Commitment, the documentation contemplated by this Commitment Letter will be modified to the extent necessary to provide for an issuance of securities and otherwise such securities shall have the same terms as those of the Interim Loans.

2

(d) Pursuant to an Amended and Restated Engagement Letter, dated the date hereof (the “Engagement Letter”), among you and the Arrangers (which amends and restates the Engagement Letter, dated March 13, 2006, among you and the Arrangers (the “Original Engagement Letter”)), as further consideration for the Interim Loans Commitment, you have engaged the Arrangers to act as your exclusive joint underwriters, exclusive joint initial purchasers and/or exclusive joint placement agents and joint book managers in connection with the sale of the Permanent Securities (as defined in the Engagement Letter).

(e) It is agreed that the Arrangers will act as the sole joint book-runners and sole joint lead arrangers for the Credit Facilities and the Interim Loan Facility and that LCPI will act as the sole and exclusive Administrative Agent (acting in such role, the “Administrative Agent”) for the Credit Facilities and the Interim Loan Facility and BSCL will act as the sole and exclusive Syndication Agent (the “Syndication Agent”; and together with the Administrative Agent, the “Agents”) for the Credit Facilities and the Interim Loan Facility. Each of the Commitment Parties will have the rights and authority customarily given to financial institutions in such roles, but will have no duties other than those expressly set forth herein. You agree that no other agents, co-agents, arrangers or book-runners will be appointed, no other titles will be awarded and no compensation (other than that expressly contemplated by the Credit Facilities Term Sheet or the Fee Letter referred to below) will be paid in connection with the Credit Facilities or the Interim Loan Facility unless you and we so agree.

(f) The commitments and agreements of the Commitment Parties described herein are subject to (i) there not having been a Material Adverse Effect (as defined below) since December 31, 2005 (the date of the most recent audited financial statements delivered to the Arrangers as of the date hereof) or any change, effect, event, development or occurrence or state of facts since December 31, 2005 that individually or in the aggregate has had or would reasonably be expected to have a Material Adverse Effect, (ii) the Arrangers having been afforded a period of at least 30 consecutive days following the delivery of indicative ratings and the launch of the general syndication of the Facilities and immediately prior to the Closing Date to syndicate the Facilities, which the Arrangers agree shall be launched promptly after the availability of the applicable confidential information memorandum, and (iii) the other conditions set forth below or referred to in the Funding Conditions attached hereto as Exhibit D. “Material Adverse Effect” shall mean any change, effect, event or occurrence or state of facts (A) that is materially adverse to the business, assets, properties, financial condition or results of operations of the Acquired Business taken as a whole but excluding any of the foregoing resulting from (I) changes in international or national political or regulatory conditions generally (in each case, to the extent not disproportionately affecting the Acquired Business as compared to other gaming companies), (II) changes or conditions generally affecting the U.S. economy or financial markets or generally affecting the industry in which the Acquired Business operates (in each case, to the extent not disproportionately affecting the Acquired Business as compared to other gaming companies), (III) changes in tax rates in any state in which the Acquired Business operates, (IV) the introduction of gaming in any state adjoining any state in which the Acquired Business operates, (V) any change in law that legalizes other forms of gaming in any state in which the Acquired Business operates, as long as such change in law does not reduce or alter the scope, manner of operation, type, nature or timing of any permitted gaming activities which the Acquired Business is permitted to conduct, (VI) any change in state law, as long as such change in law does not reduce or alter the scope, manner of operation, type, nature or timing of any permitted gaming activities which the Acquired Business is permitted to conduct and as long as such change in law does not disproportionately affect the Acquired Business as compared to other gaming companies in the state) and/or (VII) any matters disclosed in Section 8.03(e) of the disclosures schedules to the Merger Agreement of the Acquired Business or (B) that prevents or materially delays the Acquired Business from performing its material obligations under the Merger Agreement or the consummation of the transactions contemplated thereby.

3

2. Fees and Expenses. In consideration of the execution and delivery of this Commitment Letter by the Commitment Parties, you agree to pay the fees and expenses set forth in Annex A-I to the Credit Facilities Term Sheet and in the Amended and Restated Credit Facilities and Interim Loans Fee Letter dated the date hereof (the “Fee Letter”, which amends and restates the Credit Facilities and Interim Loans Fee Letter, dated March 13, 2006, among us and you (the “Original Fee Letter”)) as and when payable in accordance with the terms thereof. In consideration of the execution and delivery of this Commitment Letter by the Initial Lenders as Interim Lenders, you agree to pay the fees and expenses contemplated by the Fee Letter as and when payable in accordance with the terms thereof.

3. Indemnification.

(a) The Company hereby agrees to indemnify and hold harmless each of the Commitment Parties, the other Lenders and each of their respective affiliates and all their respective officers, directors, partners, trustees, employees, shareholders, advisors, agents, attorneys and controlling persons and each of their respective heirs, successors and assigns (each, an “Indemnified Person”) from and against any and all losses, claims, damages and liabilities to which any Indemnified Person may become subject arising out of or in connection with the Original Commitment Letter, this Commitment Letter, the Credit Facilities, the Interim Loan Facility, the Extended Term Loans (as defined in the Interim Loans Term Sheet), the Exchange Notes (as defined in the Interim Loans Term Sheet), the use of the proceeds therefrom, the Acquisition, any of the other transactions contemplated by the Original Commitment Letter, this Commitment Letter or the Engagement Letter, any other transaction related thereto or any claim, litigation, investigation or proceeding relating to any of the foregoing, regardless of whether any Indemnified Person is a party thereto, and to reimburse each Indemnified Person promptly upon demand for all out-of-pocket and documented legal and other expenses reasonably incurred by it in connection with investigating, preparing to defend or defending, or providing evidence in or preparing to serve or serving as a witness with respect to, any lawsuit, investigation, claim or other proceeding relating to any of the foregoing (including, without limitation, in connection with the enforcement of the indemnification obligations set forth herein); provided, however, that no Indemnified Person will be entitled to indemnity hereunder in respect of any loss, claim, damage, liability or expense to the extent that it is found by a final, non-appealable judgment of a court of competent jurisdiction that such loss, claim, damage, liability or expense resulted from the gross negligence or willful misconduct of such Indemnified Person. In no event will any Indemnified Person be liable on any theory of liability for indirect, special or consequential damages, lost profits or punitive damages as a result of any failure to fund any of the Credit Facilities or the Interim Loan Facility contemplated hereby or otherwise in connection with the Credit Facilities or Interim Loan Facility. No Indemnified Person will be liable for any damages arising from the use by unauthorized persons of information, projections or other materials sent through electronic, telecommunications or other information transmission systems that are intercepted by unauthorized persons.

(b) The Company further agrees that, without the prior written consent of each of the Commitment Parties, which consent will not be unreasonably withheld, it will not enter into any settlement of a lawsuit, claim or other proceeding arising out of the Original Commitment Letter, this Commitment Letter or the transactions contemplated by the Original Commitment Letter or this Commitment Letter unless such settlement includes an explicit and unconditional release from the party bringing such lawsuit, claim or other proceeding of all Indemnified Persons. The Company shall not be liable for any settlement effected without its consent, such consent not to be unreasonably withheld.

(c) In case any action or proceeding is instituted involving any Indemnified Person for which indemnification is to be sought hereunder by such Indemnified Person, then such Indemnified Person will promptly notify the Company of the commencement of any action or proceeding; provided, however, that the failure so to notify the Company will not relieve the Company from any liability that it may have to

4

such Indemnified Person pursuant to this Section 3 or from any liability that it may have to such Indemnified Person other than pursuant to this Section 3. Notwithstanding the above, following such notification, the Company may elect in writing to assume the defense of such action or proceeding, and, upon such election, it will not be liable for any legal costs subsequently incurred by such Indemnified Person (other than reasonable costs of investigation and providing evidence) in connection therewith, unless (i) it has failed to provide counsel reasonably satisfactory to such Indemnified Person in a timely manner, (ii) counsel provided by the Company reasonably determines that its representation of such Indemnified Person would present it with a conflict of interest or (iii) the Indemnified Person reasonably determines that there may be legal defenses available to it which are different from or in addition to those available to the Company. In connection with any one action or proceeding, the Company will not be responsible for the fees and expenses of more than one separate law firm (in addition to local counsel) for all Indemnified Persons.

(d) The Company and the Commitment Parties agree that if any indemnification or reimbursement sought pursuant to this Section 3 is judicially determined to be unavailable for a reason other than the gross negligence or willful misconduct of such Indemnified Person, then the Company will contribute to the amount paid or payable by such Commitment Party, as a result of such losses, claims, damages, liabilities and expenses for which such indemnification or reimbursement is held unavailable (i) in such proportion as is appropriate to reflect the relative benefits to the Company, on the one hand, and such Commitment Party, as the case may be, on the other hand, in connection with the transactions to which such indemnification or reimbursement relates, or (ii) if the allocation provided by clause (i) above is judicially determined not to be permitted, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) but also the relative faults of the Company, on the one hand, and such Commitment Party, on the other hand, as well as any other equitable considerations.

4. Expiration of Commitment. The Commitments will expire at 5:00 p.m., New York City time, on April 30, 2006 unless on or prior to such time you have executed and returned to the Arrangers a copy of this Commitment Letter, the Fee Letter and the Engagement Letter. If you do so execute and deliver to the Arrangers this Commitment Letter, the Fee Letter and the Engagement Letter, each Initial Lender agrees to hold its Commitments available for you until the earliest of (i) the consummation of the Acquisition with or without the funding of the Credit Facilities or the Interim Loan Facility, (ii) the termination of any definitive executed agreement in respect of the Acquisition (an “Acquisition Agreement”) and (iii) 5:00 p.m., New York City time, on March 13, 2007. The Commitments will terminate on the Closing Date, and you agree to rely exclusively on your rights and the commitments set forth in the Credit Documentation and Interim Loan Agreement in respect of all loans and extensions of credit to be made after the Closing Date.

5. Confidentiality.

(a) The Original Commitment Letter, this Commitment Letter, the Original Fee Letter, the Fee Letter, the Original Engagement Letter and the Engagement Letter and the terms and conditions contained herein and therein may not be disclosed by the Company to any person or entity without the prior written consent of the Commitment Parties, such consent not to be unreasonably withheld or delayed other than (i) to the Acquired Business and such of your and their agents and advisors, (ii) other than the Fee Letter and the Engagement Letter, to the rating agencies, (iii) in any filing in any public record in which it is required by law (or deemed advisable by the Company in connection with the Acquisition) to be filed, (iv) at the request of any regulatory body, and (v) such other disclosures required by a judicial or administrative proceeding or as otherwise required by law or regulation.

(b) You acknowledge that each Commitment Party and its affiliates (the term “Commitment Party,” when used in this paragraph, includes all such affiliates) may be providing debt

5

financing, equity capital or other services (including financial advisory services) to other companies in respect of which you may have conflicting interests regarding the transactions described herein and otherwise. The Commitment Parties will not use confidential information obtained from you by virtue of the transactions contemplated by this Commitment Letter or their other relationships with you in connection with the performance by the Commitment Parties of services for other companies, and the Commitment Parties will not furnish any such information to other companies. You also acknowledge that the Commitment Parties have no obligation to use in connection with the transactions contemplated by this Commitment Letter, or to furnish to you, confidential information obtained from other companies.

6. Assignment and Syndication.

(a) The parties hereto agree that the Arrangers will have the right, in consultation with you, to syndicate the Facilities and the Commitments to one or more groups of financial institutions or other investors; provided, that the commitments hereunder may not be assigned, in whole or in part, prior to the Closing Date without your prior written consent. The Arrangers will have the right, in consultation with you, to manage all aspects of any such syndication, including decisions as to the selection of financial institutions or other investors to be approached and when they will be approached, the acceptance of commitments, the amounts offered, the amounts allocated and the compensation provided. Upon the reasonable request of the Arrangers, the Company shall use its commercially reasonable efforts to assist the Arrangers in such syndication process, including, without limitation: (i) ensuring that the syndication efforts benefit from the existing lending relationships of the Company (and, to the extent practicable, the Acquired Business); (ii) arranging for direct contact between senior management and other representatives and advisors of the Company (and, to the extent practicable, the Acquired Business) and the proposed Lenders; (iii) assisting in the preparation of Confidential Information Memoranda and other marketing materials to be used in connection with any syndication, including causing such Confidential Information Memoranda to conform to market standards for similar transactions as reasonably determined by the Arrangers and, at the reasonable request of the Arrangers, the preparation of versions of the Confidential Information Memoranda that do not contain material non-public information concerning the Company or the Acquired Business, their respective affiliates or their securities for purposes of United States federal and state securities laws; and (iv) hosting, with the Arrangers, one or more meetings of prospective Lenders, and, in connection with any such Lender meeting, consulting with the Arrangers with respect to the presentations to be made at such meeting, and making available appropriate officers and representatives of the Company (and, to the extent practicable, the Acquired Business) to rehearse such presentations prior to such meetings, as reasonably requested by the Arrangers. You also agree that, at your expense, you will work with the Arrangers to procure a rating for the Credit Facilities and the Interim Loan Facility by Moody’s Investors Service, Inc. and Standard & Poor’s Ratings Group prior to the commencement of the general syndication of the Facilities.

(b) To assist the Arrangers in their syndication efforts, you agree promptly to prepare and provide to the Arrangers such information with respect to the Company, the Acquired Business, the Acquisition and the other transactions contemplated hereby as it may reasonably request, including all financial information and projections as it may reasonably request, including a reasonably detailed business plan for fiscal 2006 through fiscal 2011 in form and substance consistent with what the Company has delivered to the Arrangers in prior financing transactions (the “Projections”). You hereby represent and covenant that to the best of your knowledge (i) all information other than the Projections (the “Information”), that has been or will be made available to the Arrangers by you or any of your representatives is or will be, when furnished, and when taken as a whole, complete and correct in all material respects and does not or will not, when furnished, contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements contained therein, taken as a whole, not materially misleading in light of the circumstances under which such statements are made and (ii) the Projections that have been or will be made available to the Arrangers by you or any of your

6

representatives, in connection with the transactions contemplated hereby, have been or will be prepared in good faith based upon assumptions believed to be reasonable at the time made. You understand that in arranging and syndicating the Facilities and the Commitments we may use and rely on the Information and Projections without independent verification thereof. If, at any time from the date hereof until the Closing Date, any of the representations and covenants in this section would be, to your knowledge, incorrect if the information or Projections were being furnished, and such representations and warranties were being made, at such time, then you will use your commercially reasonable efforts to promptly supplement the Information and the Projections so that such representations and warranties will be correct under those circumstances.

(c) To ensure an orderly and effective syndication of the Facilities and the Commitments, you agree that, from the date hereof until the earlier of the termination of the syndication as determined by the Arrangers and 45 days following the Closing Date, you will not, and will not permit any of your affiliates to, syndicate or issue, attempt to syndicate or issue, announce or authorize the announcement of the syndication or issuance of, or engage in discussions concerning the syndication or issuance of, any debt facility, or debt or equity security of the Company or any of its subsidiaries (other than the syndication of the Facilities and the offering of the Notes, in each case, as contemplated hereby, and any equity securities the proceeds from which would be used to prepay the Tranche X Term Loans (as defined in the Credit Facilities Term Sheet)), including any renewals or refinancings of any existing debt facility, that would in the Arrangers judgment be expected to have an adverse impact on the syndication of the Facilities.

7. Survival. The provisions of this Commitment Letter relating to the payment of fees and expenses, indemnification and contribution and confidentiality and the provisions of Sections 6 and 8 hereof will survive the expiration or termination of the Commitments or this Commitment Letter (including any extensions) and the execution and delivery of definitive financing documentation provided, that the provisions hereof relating to indemnification will be superseded on the Closing Date to the extent replaced by the provisions of the financing documentation.

8. Choice of Law; Jurisdiction; Waivers.

(a) This Commitment Letter will be governed by and construed in accordance with the laws of the State of New York. The Company and the Commitment Parties hereby irrevocably submit to the non-exclusive jurisdiction of any New York State court or Federal court sitting in the County of New York in respect of any suit, action or proceeding arising out of or relating to the provisions of this Commitment Letter or the Fee Letter and irrevocably agree that all claims in respect of any such suit, action or proceeding may be heard and determined in any such court. The parties hereto hereby waive any objection that they may now or hereafter have to the laying of venue of any such suit, action or proceeding brought in any such court, and any claim that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum. The parties hereto hereby waive, to the fullest extent permitted by applicable law, any right to trial by jury with respect to any action or proceeding arising out of or relating to this Commitment Letter or the Fee Letter.

(b) No Senior Lender or Interim Lender will be liable in any respect for any of the obligations or liabilities of any other Senior Lender or Interim Lender under this letter or arising from or relating to the transactions contemplated hereby.

9. Miscellaneous.

(a) This Commitment Letter may be executed in one or more counterparts, each of which will be deemed an original, but all of which taken together will constitute one and the same

7

instrument. Delivery of an executed signature page of this Commitment Letter by facsimile transmission will be effective as delivery of a manually executed counterpart hereof. This Commitment Letter may not be amended or waived except by an instrument in writing signed by each of the Commitment Parties and you.

(b) The Company may not assign any of its rights, or be relieved of any of its obligations, without the prior written consent of each of the Lenders (and any purported assignment without such consent will be null and void).

(c) This Commitment Letter and the attached Exhibits and Schedules set forth the entire understanding of the parties hereto as to the scope of the Commitments and the obligations of the Lenders and the Commitment Parties hereunder. This Commitment Letter supersedes all prior understandings and proposals, whether written or oral, between any of the Lenders and you relating to any financing or the transactions contemplated hereby. This Commitment Letter is in addition to the agreements of the parties contained in the Engagement Letter and the Fee Letter.

(d) This Commitment Letter has been and is made solely for the benefit of the parties signatory hereto, the Indemnified Persons, and their respective heirs, successors and assigns, and nothing in this Commitment Letter, expressed or implied, is intended to confer or does confer on any other person or entity any rights or remedies under or by reason of this Commitment Letter or the agreements of the parties contained herein.

(e) You acknowledge that the Lenders and the Commitment Parties may be (or may be affiliated with) full service financial firms and as such from time to time may effect transactions for their own account or the account of customers, and hold long or short positions in debt or equity securities or loans of companies that may be the subject of the transactions contemplated by this Commitment Letter. You hereby waive and release, to the fullest extent permitted by law, any claims you have with respect to any conflict of interest arising from such transactions, activities, investments or holdings, or arising from the failure of any Commitment Party or one or more Lenders or any of their respective affiliates to bring such transactions, activities, investments or holdings to your attention.

(f) You agree to provide us, prior to the Closing Date, with all documentation and other information required by bank regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including, without limitation, the U.S.A. Patriot Act.

8

If you are in agreement with the foregoing, kindly sign and return to us the enclosed copy of this Commitment Letter.

EXHIBIT A TO COMMITMENT LETTER

SUMMARY OF TERMS OF CREDIT FACILITIES

Set forth below is a summary of certain of the terms of the Credit Facilities and the documentation related thereto. Capitalized terms used and not otherwise defined herein have the meanings set forth in the Commitment Letter to which this Summary of Terms is attached and of which it forms a part.

A-1

A-2

A-3

A-4

A-5

A-6

A-7

A-8

A-9

A-10

Annex A-I

Interest and Certain Fees

A-I-1

A-I-2

EXHIBIT B TO COMMITMENT LETTER

SUMMARY OF TERMS OF INTERIM LOANS

Set forth below is a summary of certain of the terms of the Interim Loan Facility and the documentation related thereto. Capitalized terms used and not otherwise defined herein have the meanings set forth in the Commitment Letter to which this Summary of Terms is attached and of which it forms a part.

B-1

B-2

B-3

B-4

B-5

EXHIBIT C TO COMMITMENT LETTER

SUMMARY OF TERMS OF EXTENDED TERM LOANS AND EXCHANGE NOTES

Capitalized terms used but not defined herein have the meanings assigned to them in the Commitment Letter to which this Exhibit C is attached.

C-2

C-2

C-3

C-4

EXHIBIT D TO COMMITMENT LETTER

FUNDING CONDITIONS

Capitalized terms used but not defined herein have the meanings assigned to them in the Commitment Letter to which this Exhibit D is attached and of which it forms a part. The availability of the Credit Facilities and Interim Loan Facility is conditioned upon satisfaction of the conditions precedent summarized below.

D-1

D-2