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Ameristar Casinos to Sell 6 Million Shares of Stock

13 November 2001

LAS VEGAS -– (Press Release) -- Ameristar Casinos, Inc. (Nasdaq: ASCA) today announced that it has filed a registration statement with the Securities and Exchange Commission for a proposed offering of 6,000,000 shares of its common stock. Of these shares, 4,000,000 will be offered by Ameristar and 2,000,000 will be offered by Craig H. Neilsen, the Company's Chairman, President and Chief Executive Officer. Assuming the completion of the offering, Mr. Neilsen will own approximately 15,700,000 shares of Ameristar's outstanding common stock.

Ameristar intends to use the proceeds from the offering to repay term loans under its senior credit facilities, as required by the terms of the governing credit agreement. Ameristar will not receive any proceeds from the sale of the shares of common stock being offered by Mr. Neilsen.

Bear, Stearns & Co. Inc. and Merrill Lynch & Co. are acting as the joint book-running managers of the offering, and CIBC World Markets Corp. is acting as a co-manager. Ameristar has granted the underwriters a 30-day option to purchase up to 900,000 additional shares of common stock.

Copies of the written prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, may be obtained from Bear, Stearns & Co. Inc., 245 Park Avenue, New York, NY 10167, (212) 272-2000, Merrill Lynch & Co., 4 World Financial Center, New York, NY 10080, (212) 449-1000 or CIBC World Markets Corp., 425 Lexington Avenue, New York, NY 10017, (212) 856-4000.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy these securities be accepted, prior to the time the registration statement becomes effective. This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there by any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

Ameristar Casinos, Inc. is a multi-jurisdictional developer, owner and operator of casinos and related hotel and entertainment facilities in five markets located in Missouri, Iowa, Mississippi and Nevada.

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