SOURCE: Ameristar Casinos, Inc.

Ameristar Casinos, Inc.

December 14, 2010 09:00 ET

Ameristar Casinos Provides Update Regarding Evaluation of Strategic Alternatives

LAS VEGAS, NV--(Marketwire - December 14, 2010) - Ameristar Casinos, Inc. (NASDAQ: ASCA) announced today that as part of its evaluation of strategic alternatives to enhance stockholder value, the Transaction Committee of its Board of Directors is no longer considering a possible sale of the Company since a sale is not in the best interests of the Company and its stockholders at this time. While a sale transaction is no longer actively being considered, the Transaction Committee will continue to explore other avenues to enhance stockholder value, including the continued execution of the Company's existing business plan which the Committee believes will provide meaningful opportunities to maximize profitability and enhance stockholder value going forward. The Company does not intend to disclose developments regarding these matters unless and until its Board of Directors determines there is a material need to update the market.

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 1A. Risk Factors" 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 September 30, 2010.

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 and The Horseshu in Jackpot, Nev. (Idaho and the Pacific Northwest).

Visit Ameristar Casinos' website at www.ameristar.com
 (which shall not be deemed to be incorporated in or a part of this news release).