LAS VEGAS, NV and SPRINGFIELD, MA--(Marketwire - Oct 23, 2012) -
- More jobs, more tax revenue and more economic impact
- More casino games, hotel rooms, resort amenities and commitments from world-renowned, nationally recognized restaurateurs and locally-owned restaurants
- Fastest to open, with a 12 to 18 month construction head start, providing the quickest economic lift to Springfield
- Easiest access and least impact on local traffic with $58 million Ameristar-funded I-291 interchange improvements
Ameristar Casinos, Inc. (NASDAQ: ASCA) unveiled specific details about its plan to develop a $910 million casino resort spa just minutes from downtown Springfield, Mass, on its 40-acre site at I-291 and Page Blvd. that is immediately ready for construction.
Ameristar's plan includes a 150,000-square-foot casino featuring 3,300 slot machines, and 110 table games, including a poker room. Ameristar Springfield will include a 500-room luxury hotel with 50 suites. The property will feature indoor and outdoor resort swimming pools, a spa, a fitness center and retail amenities. There will be a diverse offering of food and beverage options, offering everything from upscale dining to casual quick bites. Also included will be a conference and entertainment center, along with garage parking for 4,300 vehicles. The resort is master-planned to accommodate significant future expansions of the casino, hotel and parking garages.
Ameristar also announced that its casino resort will include world-renowned, nationally recognized restaurateurs and locally-owned hometown-favorite restaurants. The lineup will include upscale dining restaurants overseen by celebrity chefs Wolfgang Puck and Martin Yan, and a more casual Asian restaurant also overseen by Chef Yan. Massachusetts' own former all-star Red Sox second baseman and current New England Sports Network color analyst, Jerry Remy, will feature his Jerry Remy's Sports Bar & Grill.
Additionally, the resort will include Frigo's Market and Deli, and Schermerhorn's Seafood; both popular local restaurants with long traditions of delivering high quality food and exceptional service to New Englanders. Ameristar will offer its award-winning Horizons Buffet. And there will be a Blue Martini Lounge and Nightclub, a nationally-recognized venue known for its outstanding array of specialty drinks, tapas and live entertainment. The local Dunkin' Donuts franchisee will also establish a location within the Ameristar resort.
Ameristar Casino Resort Spa Springfield will be developed on 40 acres located near the Massachusetts Turnpike and Interstate 291, just minutes from downtown Springfield. "Ameristar owns all 40 acres, which have been cleared and are immediately ready for construction," said Gordon Kanofsky, Ameristar's Chief Executive Officer. "With no displacement of existing residents or businesses, we will have a 12 to 18 month head start on other proposals. We will more quickly begin creating the desperately needed 2,000 union construction jobs, 2,300 permanent jobs and thousands of additional indirect jobs.
"Further, since significantly less of our capital investment will be spent on land acquisition, site preparation and infrastructure, more of our investment will be utilized creating the world-class resort experience that will attract more visitors to Springfield and keep them coming back time and time again. Ameristar will generate the most tax revenue and act as the best catalyst for further economic development citywide.
"Finally, our $58 million Ameristar-funded I-291 interchange will not only provide quick and easy access to the property, it will help reduce local traffic congestion that exists today."
Ameristar announced this proposal for its 40-acre site to a group of business, civic and community leaders, as well as local residents. In January 2012, Ameristar purchased the site, which was home to one of Springfield's largest employers during most of the 20th Century before becoming dormant four decades ago. "We look forward to these 40 acres once again becoming a vibrant economic engine of the community," said Kanofsky.
About Wolfgang Puck
The name Wolfgang Puck is synonymous with the best of restaurant hospitality and the ultimate in all aspects of the culinary arts. The famous chef has built an empire that encompasses three separate Wolfgang Puck entities: Wolfgang Puck Fine Dining Group, Wolfgang Puck Catering, and Wolfgang Puck Worldwide, Inc.
Central to all of Wolfgang Puck's endeavors is his Wolfgang's Eat, Love, Live™ (WELL) philosophy. This stands for culinary passion for eating and dining WELL, which means a commitment to provide food made with only the freshest and most natural and organic ingredients available, to celebrate local farmers and seasonal ingredients, and to use only humanely raised animal products.
About Martin Yan
The celebrated host of over 3,000 cooking shows, broadcast worldwide, Martin Yan enjoys distinction as a certified Master Chef, a highly respected food consultant, a cooking instructor and a prolific author. His diverse talents have found expression in 30 cookbooks, including the award-winning Martin Yan's Feast, Martin Yan's Asian Favorites, Chinese Cooking for Dummies, Martin Yan's Chinatown Cooking (intro by Julia Child), Martin Yan's Quick & Easy, and his latest, Martin Yan's China (a cookbook that documents his travels throughout the far reaches of China, and his culinary discoveries).
About Jerry Remy's Sports Bar & Grill
Jerry Remy's Sports Bar & Grill(s), named after former all-star Red Sox second baseman and current New England Sports Network color analyst Jerry Remy, has two Boston locations, one of which overlooks Fenway Park. The third is in Fall River, Mass. Since the first restaurant opened its doors in March 2010, Remy's restaurants have been established as premier destinations, blending a laid-back atmosphere with that of an upscale sports bar.
About Frigo's Market and Deli
From the northern village of Dolo, Italy to the banks of the Connecticut River, the Frigo family has upheld many traditions and family recipes. Serving Western Massachusetts since the 1950's with highest quality service and specialty foods, Frigo's is a small family-run business in downtown Springfield offering catering services, gourmet food and gift baskets.
About Schermerhorn's Seafood
Schermerhorn's has been providing western Massachusetts with fresh Maine Lobsters since 1912. All of their seafood, including Steamer Clams, North Atlantic Swordfish and lobster all come in live and fresh directly from Maine. They pride themselves on providing the Holyoke & Springfield area with excellent food, friendly service, and most importantly, a place where the community can count on for that extra personal dining experience.
About Blue Martini Lounge
Blue Martini has locations in Bellevue, Boca Raton, Fort Lauderdale, Kendall - Miami, Las Vegas, Miami - Brickell, Naples, Orlando, Phoenix, Plano, Tampa, and West Palm Beach. They offer 42 superior martinis guaranteed to excite your taste buds and elevate your spirit. Listen or dance to the best in live entertainment while enjoying the tapas food menu, the perfect complements to their fine wine and spirits selection. They strive to provide their guests with the finest staff and service available.
About Dunkin' Donuts
Founded in 1950, Dunkin' Donuts is America's favorite all-day, everyday stop for coffee and baked goods. Dunkin' Donuts is a market leader in the regular/decaf coffee, iced coffee, hot flavored coffee, donut, bagel and muffin categories. Dunkin' Donuts has earned the No. 1 ranking for customer loyalty in the coffee category by Brand Keys for six years running. The company has more than 10,000 restaurants in 32 countries worldwide. For the full-year 2011, Dunkin' Donuts' restaurants had global franchisee-reported sales of approximately $6.4 billion. Based in Canton, Mass., Dunkin' Donuts is part of the Dunkin' Brands Group, Inc. (NASDAQ: DNKN) family of companies.
Ameristar Casinos is an innovative casino gaming company featuring the newest and most popular slot machines. Our 7,200 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 began construction on our ninth property, a casino resort in Lake Charles, La., in July 2012, which we expect will open in the third quarter of 2014. 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.
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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," "could," "would," "will" 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 June 30, 2012.