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Ameristar Increases Earnings Guidance

23 June 2003

LAS VEGAS – (Press Release) -- Ameristar Casinos, Inc. (Nasdaq: ASCA) today announced that, based on preliminary results of operations to date, it is updating its previously issued earnings guidance for the quarter ending June 30, 2003 and the year ending December 31, 2003.

For the quarter ending June 30, 2003, we currently estimate consolidated operating income of $36.5 million to $37.5 million (increased from prior guidance of $30 million to $32 million); EBITDA (1) of $53.5 million to $54.5 million (increased from prior guidance of $46 million to $48 million); and diluted earnings per share of $0.45 to $0.47 (increased from prior guidance of $0.31 to $0.35).

For the year ending December 31, 2003, we currently estimate consolidated operating income of $134 million to $142 million (increased from prior guidance of $125.5 million to $135.5 million); EBITDA of $202 million to $210 million (increased from prior guidance of $190 million to $200 million); and diluted earnings per share of $1.53 to $1.71 (increased from prior guidance of $1.35 to $1.59).

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