Gaming Strategy
Featured Stories
Legal News Financial News Casino Opening and Remodeling News Gaming Industry Executives Search News Subscribe
Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter!
Search Our Archive of Gaming Articles 

Ameristar Casinos Prices Common Stock

12 December 2001

LAS VEGAS, Nevada – (Press Release) --Dec. 12, 2001 -- Ameristar Casinos, Inc. (Nasdaq: ASCA) today announced the pricing of a public offering of an aggregate of 6,000,000 shares of its common stock at $20.50 per share. Of these shares, 4,000,000 are being offered by the company and 2,000,000 are being offered by the company's Chairman, President and Chief Executive Officer Craig H. Neilsen.

Assuming the completion of the offering, there will be approximately 24.9 million shares of Ameristar's common stock outstanding (excluding the over-allotment described later in this release), of which Neilsen will own 15.7 million shares, or 63 percent, and non-affiliates will own approximately 9.2 million shares, or 37 percent.

Ameristar intends to use the net proceeds from the offering, which are expected to be approximately $76.8 million after underwriting discounts and related expenses, 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 Neilsen.

Bear, Stearns & Co Inc. and Merrill Lynch & Co. are acting as the joint book-running managers of the offering, and CIBC World Markets 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.

A registration statement relating to these securities has been filed with and has been declared effective by the Securities and Exchange Commission. These securities may only be offered by a prospectus relating to the offering. A copy of the final prospectus related to the offering may be obtained by contacting 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. 417 5th Avenue, New York, NY 10016, (212) 667-8100.

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.

< Gaming News