Friday, December 21, 2012

Ameristar Kansas City Casino Gets New Owner

Ameristar Kansas City has a new owner after Pinnacle Entertainment Inc. agreed to acquire all of Ameristar Casinos Inc. in a deal worth almost $2.8 billion.
The deal includes $869 million cash for all outstanding common shares in Ameristar, at $26.50 a share, plus assumption of $1.9 billion in debt.
Las Vegas-based Pinnacle also will get an Ameristar casino in the St. Louis area, where it already owns two casinos. Ameristar owns a total of eight casinos in Louisiana, Missouri and Indiana.
Last month, Ameristar outperformed the other three casinos on the Missouri side of the state line, with $18.21 million in revenue and a 0.3 percent uptick in patrons.

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