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Ameristar Casinos Announces Pricing for Debt Tender Offer

15 December 2000

LAS VEGAS, Nevada – (Press Release) --Dec. 15, 2000 -- Ameristar Casinos, Inc. announced today the pricing for its previously announced tender offer (the ``Tender Offer'') for all of its 10 1/2 percent Senior Subordinated Notes due 2004, Series B (the ``Notes''). Ameristar Casinos has received tenders and consents representing 100 percent of the aggregate principal amount of Notes.

Based on the yield on the reference treasury security at 2:00 p.m., New York City time, on Dec. 14, 2000, and assuming the Notes are accepted for purchase on Dec. 20, 2000, the consideration to be paid in connection with the Tender Offer, determined in accordance with the pricing formula set forth in the Offer to Purchase and Consent Solicitation Statement dated Nov. 20, 2000, will be $1,074.22 per $1,000 principal amount of the Notes. In addition, tendering noteholders will receive accrued and unpaid interest to, but not including, the date on which the Notes are accepted for purchase.

Unless extended, the Tender Offer will expire at midnight, New York City time, on Monday, Dec. 18, 2000. Ameristar Casinos' obligation to accept the Notes for payment is subject to the terms and conditions set forth in the Offer to Purchase and Consent Solicitation Statement dated Nov. 20, 2000, including completion of Ameristar Casinos' acquisition, through its subsidiaries, of gaming and entertainment facilities in Kansas City, Missouri and St. Charles, Missouri from subsidiaries of Station Casinos, Inc. These acquisition transactions are subject to a number of conditions, including gaming and other regulatory approvals.

This announcement is not an offer to purchase, a solicitation of an offer to purchase or a solicitation of consents with respect to the Notes. The Tender Offer is being made solely by, and remains subject to, the Offer to Purchase and Consent Solicitation Statement dated Nov. 20, 2000.

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