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Ameristar Celebrates Riverboat Expansion With Grand Opening Festivities
COUNCIL BLUFFS, Iowa, Nov. 17 /PRNewswire/ -- Ameristar Casino Council Bluffs is preparing for the long-awaited opening of the Ameristar II riverboat's third deck. This expansion makes the facility the largest riverboat casino in the state of Iowa. Media and community dignitaries are invited to participate in the ceremony, to be held Nov. 22, and celebrate the grand event with a traditional boat launching.
Ameristar will host local elected officials, business leaders, Iowa Racing and Gaming Commission representatives and the media to a VIP luncheon and a tour of the exciting new facility at 11:30 a.m. City of Council Bluffs Mayor Thomas P. Hanafan will be present to give a commemorative proclamation. The highlight of the afternoon will be a vessel christening and champagne toast led by Captain Ed Utterback, in full regalia, and Iowa Racing and Gaming Commissioner Rita Sealock. To further commemorate the event, Ameristar Casino Council Bluffs management will present a check for $12,000 to the Bluffs Art Council and Humanities Iowa.
This donation will be used to bring Chautauqua, a five-day entertaining educational event, to the Council Bluffs area. Bluffs Art Council President Frankie Parrott and Humanities Iowa Executive Director Christopher R. Rossi will attend the luncheon and formally accept the donation from Ameristar General Manager Ray Neilsen.
Later that day, Platinum Players Club members will attend a sneak preview and reception from 5-7 p.m. These guests will receive a $5 limited edition gaming chip to mark the special occasion. Following this invitation-only event, the new third deck officially opens to the community at 7:30 p.m.
The 37,000 square feet of casino space will accommodate 2,830 people, including a crew of 250. A gaming enthusiast's delight, the Ameristar riverboat contains 1,446 slot machines and 51 table games.
The design of the Ameristar II's new addition is extraordinary in its detail. "A unique entertainment experience awaits guests as they depart the escalator to the richly appointed third deck of the Ameristar II," explains Ameristar Casino Council Bluff's General Manager Ray Neilsen. "The wood accents and rich hues of browns and gold create a particularly inviting gaming environment. Guests will also want to visit our new Center Sports Bar featuring four flat plasma televisions which are equipped with the latest in innovative digital technology. Numerous other plasma screens also act as slot signage and provide promotional information and entertainment for guests."
On opening day, the Center Sports Bar will feature plasma screens allowing visitors to access all of their favorite sports games. In addition, the bar will provide 18 high-tech video poker and video reel machines.
Ameristar Casino Council Bluffs, a wholly owned subsidiary of Ameristar Casinos, Inc. (Nasdaq: ASCA), opened in January 1996. Featuring architecture reminiscent of a gateway river town, the resort complements the region with a distinctive presence and offers American Automobile Association (AAA) Four-Diamond culinary, gaming and lodging services.
Ameristar Casinos, Inc., is an innovative, small-cap gaming company known for its distinctive, quality-conscious hotel casinos and good food values. Led by President and Chief Executive Officer Craig H. Neilsen, the organization's roots go back nearly five decades to a tiny roadside casino in the high plateau country that borders Nevada and Idaho. Publicly held since November 1993, the Las Vegas-based corporation operates five properties in Nevada, Mississippi and Iowa.
Visit Ameristar Casinos' Web site at ameristars.com
AMERISTAR CASINO COUNCIL BLUFFS, INC.
AMERISTAR II THIRD DECK EXPANSION
FACT SHEET
-- In 1998, Ameristar Casino Council Bluffs management received Iowa Racing Gaming approval to expand its resort complex located on the Missouri River.
-- Consultations with LeeVac Shipyards in Jennings, Louisiana, the
original builders of the casino boat, concluded that creating a shipyard in Council Bluffs on the Ameristar site was the best option for completion of the third deck.
-- After the cruise season ended, construction of the vessel began. On July 5, 1999 project managers from the LeeVac Shipyards arrived in Council Bluffs to lay out the first shipyard in the state of Iowa-where the third deck was to be fabricated. A 300-ton crane lifted the first piece of steel in place on July 13. All of the work on Ameristar II was completed while the riverboat was open, making it the only vessel in the nation to undergo such extensive new construction during operation.
-- The third deck was officially unveiled to the public on Nov. 22, 1999. Ceremonies included a champagne toast and traditional vessel christening performed by Captain Ed Utterback, who was adorned in full regalia, and Iowa Racing and Gaming Commissioner Rita Sealock.
-- The opening of the third deck of the Ameristar II brings the total capacity of the vessel to 2,830 people, including a crew of 250. The facility offers 37,000 square feet of casino gaming on three decks. Now Iowa's largest riverboat casino, the Ameristar II, features over 1,850 gaming positions with 51 table games and l,446 slots. The Center Sports Bar will feature nineteen magnificent 40-inch by 25-inch plasma screens to provide promotional information and entertainment for guests.
SOURCE Ameristar Casinos
Web Site: ameristars.com
prnewswire.com
steve
ps, The Times-News, Twin Falls, Idaho, Business Briefs Column
November 15, 1999 8:43pm
Source: Knight-Ridder/Tribune
Business News
Nov. 14 (The Times-News/KRTBN)--LAS
VEGAS--Ameristar Casinos Inc. (Nasdaq: ASCA) this
week announced net revenues of $77.6 million,
income from operations of $6.7 million and earnings
per share of 1 cent for the three months ended Sept.
30.
Those results are improved from the third quarter of
1998, when net revenues were $69.3 million, income
from operations was $4.4 million and loss per share
was 6 cents, said the company with a Twin Falls
office.
For the nine months ended Sept. 30, net revenues
were $223.8 million, income from operations was
$20.4 million and earnings per share were 5 cents.
For the nine months ended Sept. 30, 1998, net
revenues were $197.5 million, income from
operations before preopening costs -- related to the
opening of The Reserve Hotel Casino in Las Vegas --
was $11.2 million and loss per share before
preopening costs was 15 cents.
"I am particularly pleased with the improved market
share positions of our Vicksburg (Miss.), Council
Bluffs (Iowa) and Las Vegas facilities," said
Ameristar President and CEO Craig H. Neilsen.
"Construction continues on schedule for the
third-level casino addition in Council Bluffs, with the
opening planned for Nov. 22."
The company's Jackpot properties, Cactus Petes
Resort Casino and The Horseshu Hotel & Casino,
increased net revenues to $15.9 million and $44.3
million for the three and nine months ended Sept. 30,
compared with $15.3 million and $42.0 million for the
same periods in 1998. Those properties had
operating income of $3 million and $8.9 million,
respectively, for the three and nine months ended
Sept. 30, compared with $3.7 million and $8.2 million
for the corresponding periods in 1998, the company
said.
Most of the revenue enhancement in Jackpot "is
attributable to increased casino revenues due to a
higher hold percentage on table games and
enhanced slot product," Ameristar said.
PORTLAND, Ore.--Elmer's Restaurants Inc. (Nasdaq:
ELMS) this week announced its second-quarter
earnings for the three months ended Sept. 30.
Elmer's -- which has a pancake and steak house in
Twin Falls -- reported record net income of $237,000,
or 15 cents per share, on revenues of $5.6 million.
That compares with net income of $51,000, or 7
cents per share, for the same period a year ago. For
the six months ended Sept. 30, the company said it
earned $431,000, or 27 cents per share, compared
with net income of $84,000, or 11 cents per share,
for the year-ago period. The quarterly results
compare with net income of $194,000, or 12 cents
per share, on revenues of $5.3 million on a pro forma
basis for the same period a year ago. Pro forma
results represent the combined earnings of Elmer's
and its subsidiaries CBW Inc. and Grass Valley
Limited, as if all three businesses had been owned
by Elmer's for the three months ended Sept. 30,
1998.
"Our strong operational and financial performance
demonstrates that our new management team's
strategy of revitalizing and growing Elmer's is on
target," said a joint statement by Chairman Bruce
Davis and Chief Executive Officer William Service.
The company also announced the issuance of a 5
percent stock dividend payable to holders of record
on Nov. 30 -- the first dividend payable to Elmer's
shareholders. |
