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Aztar Reports Q2 Results

20 July 2006

PHOENIX, Arizona – (PRESS RELEASE) -- Aztar Corporation (NYSE: AZR) today reported financial results for its 2006 second quarter, including property EBITDA from continuing operations of $60.2 million, compared with $57.9 million in the year-earlier quarter.

Second-quarter 2006 revenue was $221.9 million, compared with $221.4 million in the comparable 2005 quarter. The company reported a net loss of $66.1 million for the 2006 quarter, largely attributable to payment of a fee and associated expenses totaling $78.0 million related to termination of its merger agreement with Pinnacle Entertainment, Inc.; net income was $15.5 million in the 2005 second quarter. Reported diluted net loss per share was $1.84 in the 2006 second quarter, compared with diluted net income per share of 41 cents in the 2005 quarter. Adjusted diluted net income per share was 35 cents in the 2006 second quarter, which is after stock option compensation expense equivalent to two cents per share, compared with 38 cents in the 2005 second quarter.

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