Ameristar Casinos Announces Closing of Purchase of Creative Casinos of Louisiana
July 16 2012 - 12:39PM
Marketwired
Ameristar Casinos, Inc. (NASDAQ: ASCA) announced today it has
completed the previously announced purchase of all of the equity
interests of Creative Casinos of Louisiana, L.L.C. ("Creative")
from Creative Casinos, LLC. for $32.5 million. Ameristar expects to
commence construction on July 20, 2012 and to complete the project
in the third quarter of 2014.
Ameristar Casino Resort Spa Lake Charles will include a casino
with approximately 1,600 slot machines and 60 table games, a hotel
with 700 guest rooms (including 70 suites), a variety of food and
beverage outlets, an 18-hole golf course, a tennis club, swimming
pools, a spa and other resort amenities. It will also include 3,000
parking spaces, 1,000 of which will be in a garage. The resort will
be developed on a 242-acre site leased from the Port of Lake
Charles. Ameristar has retained Bergman, Walls & Associates as
the architect, Meyer & Associates as the civil engineer and
W.G. Yates & Sons as the general contractor.
"We're excited about the growth this opportunity will bring to
our Company, and for the thousands of construction and permanent
jobs we will create in Lake Charles," said Gordon R. Kanofsky,
Chief Executive Officer. "In just two years, Ameristar Casino
Resort Spa Lake Charles will begin serving southwestern Louisiana
and southeastern Texas, including the Houston metropolitan
area."
Forward-Looking Information This release
contains certain forward-looking information that generally can be
identified by the context of the statement or the use of
forward-looking terminology, such as "believes," "estimates,"
"anticipates," "intends," "expects," "plans," "is confident that,"
"will," "would," "should," "could" or words of similar meaning,
with reference to Ameristar or our management. Similarly,
statements that describe our future plans, objectives, strategies,
financial results or position, operational expectations or goals
are forward-looking statements. It is possible that our
expectations may not be met due to various factors, many of which
are beyond our control, and we therefore cannot give any assurance
that such expectations will prove to be correct. For a discussion
of relevant factors, risks and uncertainties that could materially
affect our future results, attention is directed to "Item 1A. Risk
Factors" and "Item 7. Management's Discussion and Analysis of
Financial Condition and Results of Operations" in our Annual Report
on Form 10-K for the year ended December 31, 2011 and "Item 2.
Management's Discussion and Analysis of Financial Condition and
Results of Operations" in our Quarterly Report on Form 10-Q for the
quarter ended March 31, 2012.
ABOUT AMERISTAR Ameristar Casinos is an
innovative casino gaming company featuring the newest and most
popular slot machines. Our 7,500 dedicated team members pride
themselves on delivering consistently friendly and appreciative
service to our guests. We continuously strive to increase the
loyalty of our guests through the quality of our slot machines,
table games, hotel, dining and other leisure offerings. Our eight
casino hotel properties primarily serve guests from Colorado,
Idaho, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi,
Missouri, Nebraska and Nevada. We have been a public company since
1993, and our stock is traded on the Nasdaq Global Select Market.
We generate more than $1 billion in net revenues annually.
Visit Ameristar Casinos' website at www.ameristar.com (which
shall not be deemed to be incorporated in or a part of this news
release).
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CONTACT: Roxann M. Kinkade, APR Director of
Communications Ameristar Casinos, Inc. 816-414-7007
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