Ameristar Releases Impact Study on Missouri's 13th Casino License Location
May 24 2010 - 5:20PM
Marketwired
Ameristar Casinos, Inc. (NASDAQ: ASCA) announced today results of
an analysis of three locations for the 13th Missouri Riverboat
Casino license. The analysis reveals that the State of Missouri
will receive the greatest tax benefit by locating the casino in
Cape Girardeau, a city in southeastern Missouri. This location will
generate substantially more incremental (revenue not already
captured by another Missouri casino) than Chain of Rocks, a suburb
to the north of St. Louis and Sugar Creek, a suburb to the east of
Kansas City.
"This study describes in depth which casino location has the
potential to add the most incremental Adjusted Gross Revenue (AGR)
and maximize the tax revenue needed to provide critical funding for
Missouri's public schools," said Troy Stremming, Ameristar's Senior
Vice President of Government Relations and Public Affairs. "A Cape
Girardeau casino will generate $23.5 million in annual incremental
new tax revenue; almost double the amount generated by a Chain of
Rocks casino and nearly three times the amount generated by the
Sugar Creek casino."
Total forecasted AGR for a new Cape Girardeau facility is $87
million, of which virtually none would be cannibalized from
existing Missouri casinos. The nearest Missouri casino to Cape
Girardeau is 80 miles away in Caruthersville.
Ameristar completed the analysis after Missouri Gaming
Commission officials called for existing and potential casino
operators to conduct economic impact studies to determine which
location will add the most incremental revenue to the state.
ABOUT AMERISTAR Ameristar Casinos, Inc. is
a leading Las Vegas-based gaming and entertainment company known
for its premier properties characterized by state-of-the-art casino
floors and superior dining, lodging and entertainment offerings.
Ameristar's focus on the total entertainment experience and the
highest-quality guest service has earned it leading positions in
the markets in which it operates. Founded in 1954 in Jackpot, Nev.,
Ameristar has been a public company since November 1993. The
Company has a portfolio of eight casinos in seven markets:
Ameristar Casino Resort Spa St. Charles (greater St. Louis);
Ameristar Casino Hotel East Chicago (Chicagoland area); Ameristar
Casino Hotel Kansas City; Ameristar Casino Hotel Council Bluffs
(Omaha, Neb., and southwestern Iowa); Ameristar Casino Hotel
Vicksburg (Jackson, Miss., and Monroe, La.); Ameristar Casino
Resort Spa Black Hawk (Denver metropolitan area); and Cactus Petes
Resort Casino and The Horseshu Hotel and Casino in Jackpot, Nev.
(Idaho and the Pacific Northwest).
Visit Ameristar Casinos' web site at www.ameristar.com (which
shall not be deemed to be incorporated in or a part of this news
release).
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