SOURCE: Ameristar Casinos, Inc.

Ameristar Casinos, Inc.

May 24, 2010 17:21 ET

Ameristar Releases Impact Study on Missouri's 13th Casino License Location

Cape Girardeau Location Will Result in Most Gaming Tax Revenue

LAS VEGAS, NV--(Marketwire - May 24, 2010) -  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.

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 (which shall not be deemed to be incorporated in or a part of this news release).