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Ameristar Casinos Reports Expected 4th Quarter Results

17 January 2001

LAS VEGAS, Nevada – (Press Release) -- Jan. 17, 2001 -- Ameristar Casinos, Inc. (Nasdaq: ASCA) announced today that it expects fourth quarter earnings per share before extraordinary charges to be approximately $0.02 per share compared to analyst estimates of $0.04 per share. The following factors have contributed to the company's results being lower than expected:

-- The company's Council Bluffs and Vicksburg properties experienced disruption resulting from ongoing renovation projects during the fourth quarter. These projects are expected to be completed during the first half of 2001.

-- Severe winter weather conditions in most of the company's markets adversely affected performance during December.

-- The company completed the acquisition of its Kansas City and St. Charles properties on December 20, 2000. The Missouri properties added revenue and operating income based on their operations for the last eleven days of the quarter. This additional income was largely offset by a $2 million one-time charge related to the acquisition and additional interest and depreciation costs.

Due to an extraordinary charge of $9.9 million associated with the retirement of the company's $100 million Senior Subordinated Notes and $115 million Revolving Credit Facility, the company expects to report a net after-tax loss of approximately $0.31 per share for the fourth quarter.

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