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Ameristar Casinos Reports Stock Repurchase Program

LAS VEGAS – (PRESS RELEASE) -- Ameristar Casinos, Inc. (Nasdaq: ASCA) announced today that its Board of Directors has approved the repurchase of up to 2.8 million shares of the Company's common stock, representing approximately 5% of its outstanding common stock, in a stock repurchase program. The shares may be repurchased from time to time over the next three years in open market transactions or privately negotiated transactions at the Company's discretion, subject to market conditions and other factors.

"We believe that our stock at its current price level represents an attractive investment for the Company," said Craig H. Neilsen, Chairman and CEO. "This program will allow us to opportunistically return capital to our shareholders in a manner we anticipate will have a positive effect on our earnings per share."

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