LAS VEGAS, Dec. 14 /PRNewswire-FirstCall/ -- Ameristar Casinos, Inc. today announced a delay in the planned opening of its new luxury hotel and spa in St. Charles, Mo. Other elements of the facility, including a new state-of-the-art nightclub, remain on schedule to open at the end of this month. In addition, four of the five lanes of the new boulevard leading to the property have been opened, with the fifth lane on target for completion by the end of December.
Casino and restaurant operations are unaffected by the delay.
"We continue to try to work with our general contractor on the hotel and spa to complete the project as quickly as possible while still meeting Ameristar's high standards of quality and cost expectations," said John Boushy, Ameristar CEO and President. "I look forward to sharing a revised project timeline with our valued guests, team members and shareholders in the near future."
The 400-room luxury hotel and 7,000-square-foot spa initially were slated to open at the end of December. Most of the new five-lane boulevard is already opened and is improving access to the facility; completion of all lanes and the landscaping remains on schedule for the end of December as do numerous facility enhancements.
On December 27, HOME, a state-of-the-art nightclub, is scheduled to open with a world-renowned list of DJ's and celebrities who will celebrate nightly through New Year's Eve. And Lixx, a new, chic circle bar located on the gaming floor, is scheduled to open in time for the holiday festivities.
Boushy added, "All combined, the enhancements that will be completed in December, as well as the luxurious hotel and spa, will position Ameristar St. Charles as the premier regional destination where our guests can enjoy Ameristar's unique blend of luxury and fun."
Forward Looking Statement
This document 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" 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, 2006 and "Item 1A. Risk Factors" in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2007.
About Ameristar
Ameristar Casinos, Inc. is a leading Las Vegas-based gaming and entertainment company known for its premier properties characterized by innovative architecture, 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 a leading market share position in each of the markets in which it operates. Founded in 1954 in Jackpot, Nevada, Ameristar has been a public company since November 1993. The Company has a portfolio of eight casinos in seven markets: Ameristar St. Charles (greater St. Louis); Ameristar Kansas City; Ameristar Council Bluffs (Omaha, Nebraska and southwestern Iowa); Ameristar Vicksburg (Jackson, Mississippi and Monroe, Louisiana); Ameristar Black Hawk (Denver metropolitan area); Cactus Petes and The Horseshu in Jackpot, Nevada (Idaho and the Pacific Northwest); and Resorts East Chicago (Chicagoland area), which was acquired on Sept. 18, 2007.
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