September 19, 2014 12:15 PM ET

Hotels, Restaurants and Leisure

Company Overview of Ameristar Casinos Inc.

Company Overview

Ameristar Casinos, Inc. develops, owns, and operates casinos and related facilities in the United States. It primarily offers slot play, as well as a range of table games, including blackjack, craps, roulette, and poker; and hotel, and food and beverage outlets. The company’s signature dining concepts include steakhouses, buffets, and casual dining restaurants with sports bars. It operates a portfolio of eight casinos in seven markets, including Ameristar Casino Resort Spa St. Charles serving the St. Louis, Missouri metropolitan area; Ameristar Casino Hotel Kansas City serving the Kansas City metropolitan area; Ameristar Casino Hotel Council Bluffs serving Omaha, Nebraska, and southwestern I...

3773 Howard Hughes Parkway

Suite 490 South

Las Vegas, NV 89169

United States

Founded in 1954

4,680 Employees

Phone:

702-567-7000

Fax:

702-369-8860

Key Executives for Ameristar Casinos Inc.

Chief Executive Officer and Director
Age: 58
President
Age: 65
Chief Financial Officer
Age: 63
Chief Administrative Officer
Age: 57
Senior Vice President of Information Technology & Human Resources
Age: 65
Compensation as of Fiscal Year 2014.

Ameristar Casinos Inc. Key Developments

Ameristar Casinos Inc.(NasdaqGS:ASCA) dropped from NASDAQ Composite Index

Ameristar Casinos Inc. will be removed from NASDAQ Composite Index.

Ameristar Casinos Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2013

Ameristar Casinos Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2013. For the quarter, the company's net revenues were $291.3 million compared with $296.3 million a year ago. Income from operations was $61.1 million compared with $59.0 million a year ago. Current-year operating income was adversely impacted by $1.3 million of expenses associated with the pending merger and $0.4 million of pre-opening costs associated with its Lake Charles development project. Income before income tax provision was $32.97 million compared with $30.1 million a year ago. Net income was $19.98 million or $0.57 per diluted share compared with $17.6 million or $0.51 per diluted share a year ago. The year-over-year improvement in net income was mostly attributable to enhanced operating efficiencies at all its properties, which more than offset the decrease in net revenues, the merger-related costs and Lake Charles pre-opening costs in the current period. Net cash provided by operating activities was $44.8 million compared with $43.8 million a year ago. Adjusted EBITDA was $91.9 million compared with $90.2 million a year ago. Adjusted diluted earnings per share were $0.60 compared with $0.51 a year ago. Capital expenditures were $88.7 million compared with $20.3 million a year ago. For the six months, the company's net revenues were $586.4 million compared with $608.4 million a year ago. Income from operations was $119.2 million compared with $128.3 million a year ago. Income before income tax provision was $62.4 million compared with $73.4 million a year ago. Net income was $37.95 million or $1.08 per diluted share compared with $58.99 million or $1.73 per diluted share a year ago. Net cash provided by operating activities was $120.5 million compared with $115.8 million a year ago. Adjusted EBITDA was $181.5 million compared with $192.1 million a year ago. Adjusted diluted earnings per share were $1.16 compared with $1.27 a year ago.

Ameristar Casinos Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2013; Provides Earnings Guidance for the Second Quarter of 2013

Ameristar Casinos Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported net revenues of $295,080,000 against $312,134,000 a year ago. Income from operations was $58,050,000 against $69,258,000 a year ago. Income before income tax provision was $29,419,000 against $43,340,000 a year ago. Net income was $17,978,000 or $0.51 diluted earnings per share against $41,366,000 or $1.21 diluted earnings per share a year ago. The year-over-year decline in net income was mostly attributable to the decrease in net revenues, a prior-year reduction in the income tax provision due to certain income tax elections and the incurrence of merger-related costs in the current period. Consolidated adjusted EBITDA was $89,650,000 against $101,975,000 a year ago. Adjusted diluted earnings per share were $0.56 against $0.75 a year ago. Capital expenditures totaled $46.8 million and $31.0 million, respectively. Capital expenditures included $37.0 million associated with the Lake Charles construction project. For the second quarter of 2013, the company expects depreciation to be in the range from $25.0 million to $26.0 million. Capital spending is expected to be in the range of $96.0 million to $101.0 million, including approximately $15.0 million for maintenance capital expenditures and $84.0 million related to Lake Charles design and construction costs. The combined state and federal income tax rate to be in the range of 40% to 42%.

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