Ameristar Casinos, Inc. announced October 18 that they were buying two Missouri properties from Station Casino and selling their Henderson, NV to them.

The transactions calls for Ameristar Casinos to acquire Station Casinos’ Kansas City and St. Charles properties for an aggregate cash purchase price of $475 million while selling The Reserve Casino, in Henderson, NV to Station Casino for $70 million.

“Ameristar has aggressively pursued strategic growth options that fit well within our portfolio,” explained Ameristar Casinos President and Chief Executive Officer Craig H. Neilsen. “The Missouri acquisitions provide Ameristar with the ideal opportunity to further leverage the company’s expertise in riverboat operations. An additional benefit gained from the transaction will be the ability to cross-market the combined four Midwest properties under the Ameristar brand at higher levels of efficiency.”

The St. Charles includes 47,000 square feet of gaming space with 2,008 slot machines, 51 table games and 15 poker tables. Several years ago, Station Casinos began construction of a large, new gaming facility at the St. Charles site. Ameristar plans to complete the initial phase of this project, with some design modifications.

When the initial phase of the project is finished, the property will encompass 70,000 square feet of gaming space with a total of 2,300 slot machines and 70 table games. A steakhouse, buffet, specialty restaurant, deli/café and entertainment center, an arcade and gift shop are also under consideration by Ameristar.

The completion of these acquisitions is subject to regulatory and various other approvals. The acquisitions are expected to close as soon as licensure of Ameristar is completed by the Missouri Gaming Commission. While no assurances can be given, the company believes the licensure investigation may be completed before the end of 2000. 파워볼게임

The sale of The Reserve is also subject to regulatory and various other approvals. This sale is expected to close in the fourth quarter of 2000 or the first quarter of 2001.

Leave a Reply

Your email address will not be published. Required fields are marked *