Ameristar Set To Enter Their Seventh Casino Market

Five months ago a deal was in place for Ameristar to purchase the Resorts East Chicago Riverboat casino. On late Tuesday, the deal was finalized, meaning Ameristar will now enter its seventh casino market.

Mississippi, Colorado, Iowa, Missouri, and Nevada all have casinos operated by Ameristar running already, the Indiana casino they just bought just adds to the list.

The company has been talking about expansion, but not by building, by acquisition. Chief Executive Officer John Boushy had this to say, "The Purchase of Resorts East Chicago provides access to one of the nation's most attractive gaming markets, diversifies our cash flow, and greatly enhances our distribution channels. As a result, this acquisition represents a significant milestone in achieving our growth objectives."

The newly acquired casino will be upgraded by $20 to $30 million. Money will also be spent to change the operating system to one compatible with Ameristar's operating structure.

It will be difficult for the company to compete in a market that is already occupied by Harrah's entertainment, but there are plenty of gambling dollars to go around, and that will benefit Ameristar as they compete for a share of that money.

September 20, 2007
Posted By Larry Rutherford
Staff Editor, CasinoGamblingWeb.com
Submit News!

Pinnacle Bringing Casino Gambling To New Level in Louisiana
UK Gambling Problem Speculation Way Off According to Study
Chicago Could Turn To Casino Money For Transit Help
Florida Supreme Court Could Take Slots Away Over Fraud Issue
Bidding War For Massachusetts Casino Set To Attract Big Names