Ameristar Casino, Inc. announced on Oct. 18 that it was buying two Missouri properties from Station Casino and selling them their Henderson, NV.
The transaction requires Amerista Casino to acquire Station Casino's Kansas City and St. Charles properties for a total cash purchase price of $475 million, while also selling its Reserve Casino in Henderson, NV, to Station Casino for $70 million.
"Amerista has aggressively pursued strategic growth options that fit well within our portfolio," explained Craig Neilson, president and CEO of Amerista Casino. "The Missouri acquisition provides Amerista an ideal opportunity to further leverage the company's expertise in river boat operations. The additional benefits of this transaction are the ability to cross-sell four Amerista-branded Midwest properties at a higher level of efficiency."
St. Charles contains 47,000 square feet of gaming space with 2,008 slot machines, 51 table games, and 15 poker tables. A few years ago, Station Casino began building a large-scale new gaming facility on its St. Charles site. Amerista plans to complete the initial stages of the project with some design modifications.
Upon completion of the initial phase of the project, the property will include a total of 2,300 slot machines and 70 table games in 70,000 square feet of gaming space. Steak houses, buffets, specialty restaurants, deli/cafe ̈ ¿½ ¿½ and entertainment centers, arcades and gift shops are also under consideration.
The completion of these acquisitions requires regulatory and various other approvals. The acquisition is expected to close as soon as Amerista's license is completed by the Missouri Gaming Commission. While it cannot provide a guarantee, the company believes that the license investigation may be completed before the end of 2000. 카지노사이트
The sale of reserves is also subject to regulatory and various other approvals. The sale of reserves is expected to be completed in the fourth quarter of 2000 or the first quarter of 2001.