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Aztar Concludes Share Repurchase Program, Starts Another One21 December 1999Aztar Corp. (NYSE: AZR) said it has completed the repurchase of 3.5 million shares of Aztar common stock in a program begun last May. The company also has begun its new discretionary stock repurchase program, authorized by the board of directors on Dec. 9. Under the new plan, Aztar may purchase up to 4.5 million additional shares, or about ten percent of the common stock currently outstanding. All purchases may be made from time to time in the open market or in privately negotiated transactions, depending upon market prices and other business factors. The purchases of the 3.5 million shares in the initial program were at prices ranging from $6.69 per share to $11.00 per share, at an average price of $9.57 per share. Aztar, based in Phoenix, operates Tropicana Casino and Resort in Atlantic City, N.J.; Tropicana Resort and Casino in Las Vegas, Nev.; Ramada Express Hotel and Casino in Laughlin, Nev.; Casino Aztar in Caruthersville, Mo.; and Casino Aztar in Evansville, Ind. The company's stock closed Tuesday at $10.50, off six cents. Its 52-week high was $11.125 on Oct. 11; the 52-week low was $4.19 on March 22. |