PRESS RELEASE
LAS VEGAS, NV, Jun 09, 2010 (MARKETWIRE via COMTEX) -- Ameristar Casinos,
Inc. (ASCA 17.50, +0.13, +0.75%) announced plans to add 100 rooms and a fitness
center to Ameristar Casino Kansas City's existing luxury hotel. The expansion is
targeted for completion in the fourth quarter of 2011 at a cost of approximately
$14 million. The addition will complement the property's existing 184 rooms and
hotel lobby, which were extensively renovated in September 2006.
"This expansion will mirror the elegance everyone has come to expect from
Ameristar with the same finishes and furnishings found in our existing rooms,"
said Sean Barnard, Senior Vice President and General Manager of Ameristar Kansas
City. "The timing is perfect; Ameristar has led the market for nearly seven
consecutive years, our hotel occupancy is strong and the Missouri Gaming
Commission recently approved 24-hour gaming which is scheduled to begin later
this summer."
"This project reinforces our commitment to assist our team members in delivering
an exceptional entertainment and hospitality experience," said Gordon R.
Kanofsky, Ameristar Casino, Inc.'s Chief Executive Officer. "Although we have a
longstanding commitment to economic development in Kansas City, we have been
careful in allocating our free cash flow and capital during the recession. We
are moving forward with this hotel addition now because we believe it will
produce an attractive return on our investment," explained Kanofsky.
The hotel addition will feature 80 deluxe rooms and 20 suites, and connect into
the hotel on each floor utilizing the existing infrastructure. An adjoining
fitness center with state-of-the-art cardiovascular and strength-training
machines will be available to all hotel guests. "We are in the design phase
now," said Barnard. "Our goal is to accept construction bids in October and
award the project in November."
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," "should," 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,
2009 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, 2010.
About Ameristar Casinos, Inc. 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).
Return to Missouri Casinos.
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