Ameristar Casinos

Ameristar Casinos was an American regional gaming company that owned and operated casinos, casino hotels, resorts, restaurants, entertainment venues, and related hospitality facilities. Its corporate roots reached back to 1954, when Cactus Pete Piersanti opened Cactus Pete's Desert Lodge near the Idaho border in what later became Jackpot, Nevada. The business expanded from that local property into a multi-state casino operator under the leadership of the Neilsen family. Ray Neilsen, whose construction company had worked on Cactus Pete's, obtained partial control of the property in 1967. After his death in 1971, his son Craig H. Neilsen assumed day-to-day leadership and became sole owner in 1984. Craig Neilsen continued to lead the company after a 1985 automobile accident left him quadriplegic. During his tenure, the company expanded beyond Jackpot into larger regional gaming markets and adopted the Ameristar name. The business was renamed Ameristar Casinos, Inc. and became a Nasdaq-listed company in 1993. Ameristar's operating model focused on regional casino destinations rather than the Las Vegas Strip. Properties generally combined slot machines and table games with hotels, restaurants, entertainment, meeting facilities, parking, spas, and other amenities. The company entered Mississippi, Iowa, Missouri, Nevada, Colorado, and Indiana, building or acquiring properties in markets such as Vicksburg, Council Bluffs, Kansas City, St. Charles, Black Hawk, East Chicago, and Jackpot. It also pursued development opportunities in Massachusetts and Louisiana. Several properties became substantial destination resorts. The Black Hawk property was expanded through a major renovation and resort project that opened in 2009, adding a 33-story hotel, a spa, meeting space, an enclosed rooftop pool, and hundreds of rooms. Ameristar also invested in expansions and renovations at Vicksburg, Kansas City, and East Chicago. The company benefited from regulatory changes in Missouri and Colorado that expanded gaming limits, operating hours, or permitted games. Following Craig Neilsen's death in 2006, Ray H. Neilsen became chairman and John Boushy became chief executive officer. Boushy left in 2008 and was succeeded by Gordon Kanofsky, who also became vice chairman. Ameristar remained a significant regional operator, but its strategic future was increasingly associated with a potential sale. In August 2013, Pinnacle Entertainment acquired Ameristar for $869 million plus approximately $1.9 billion in assumed debt. The transaction ended Ameristar's existence as an independent public company and transferred its properties into Pinnacle's portfolio. Ameristar is therefore principally a former casino corporation, although the Ameristar name continued to be associated with several casino properties after the acquisition.

Ameristar Casinos developed from a family-owned casino business in Jackpot, Nevada. In 1954, Cactus Pete Piersanti opened Cactus Pete's Desert Lodge on U.S. Route 93 near the Idaho border. The neighboring Horseshu Club later came under the same management, creating the foundation of a small but durable gaming operation. Ray Neilsen, an Idaho construction executive whose company had built structures at Cactus Pete's, acquired partial control in 1967. His son, Craig H. Neilsen, took over daily operations after Ray's death in 1971 and became sole owner in 1984. Craig remained active after a serious automobile accident in 1985 left him quadriplegic. Under his direction, the company moved beyond Jackpot and pursued a broader regional casino strategy. The first major expansion outside Nevada came in 1992, when the company acquired Delta Pointe in Vicksburg, Mississippi. The property reopened as Ameristar Casino Vicksburg in 1994 and was later expanded with an adjoining hotel. In 1993, the corporation was renamed Ameristar Casinos, Inc. and listed on Nasdaq under ASCA. Corporate headquarters moved from Twin Falls, Idaho, to Las Vegas in 1996. Ameristar continued building a portfolio through both development and acquisition. It opened a riverboat casino in Council Bluffs, Iowa, in 1996 and opened the Reserve Hotel Casino in Henderson, Nevada, in 1998. The Reserve was sold to Station Casinos in 2001 and subsequently renamed Fiesta Henderson. Ameristar acquired casino properties in Kansas City and St. Charles, Missouri, from Station Casinos in 2000. It entered Colorado by acquiring Mountain High Casino in Black Hawk in 2004, then invested heavily in a resort expansion that introduced the Ameristar brand to the property and opened a large hotel and spa complex in 2009. The company acquired Resorts East Chicago in Indiana in 2007 and rebranded it as Ameristar Casino Hotel East Chicago in 2008. It also expanded Vicksburg and planned improvements at properties in Kansas City and East Chicago. These projects reflected Ameristar's emphasis on integrated regional destinations offering gaming alongside lodging, dining, entertainment, meetings, and leisure amenities. Ameristar explored further growth during the early 2010s. After Massachusetts legalized casino gaming in 2011, it proposed a hotel and casino on a former industrial site in East Springfield, but withdrew the proposal in 2012 amid competing bids and changing local political preferences. In Louisiana, Ameristar agreed in 2012 to acquire Creative Casinos, developer of the proposed Mojito Pointe resort in Lake Charles, and planned a major casino resort there. The Lake Charles project was still under development when Ameristar was acquired. Craig H. Neilsen died unexpectedly in 2006. Ray H. Neilsen became chairman, while John Boushy moved from president to chief executive officer. Boushy resigned in 2008 and Gordon Kanofsky succeeded him as CEO while also becoming vice chairman. Ameristar continued operating as a public regional casino company, but was reportedly available for sale after Craig Neilsen's death. Pinnacle Entertainment completed its acquisition in August 2013 for $869 million plus approximately $1.9 billion of assumed debt. The transaction dissolved Ameristar as an independent company and placed its casino properties within Pinnacle's operating portfolio. The Ameristar name nevertheless remained connected with several properties after the corporate acquisition.

• 2013

  Acquired by Pinnacle Entertainment

  [1]Ameristar Casinosen.wikipedia.org

  Pinnacle Entertainment completed its acquisition of Ameristar, ending the company as an independent public operator.

• 2012

  Lake Charles development agreement

  [1]Ameristar Casinosen.wikipedia.org

  Ameristar agreed to acquire Creative Casinos and pursue the proposed Mojito Pointe resort in Lake Charles, Louisiana.

• 2009

  Black Hawk resort expansion opens

  [1]Ameristar Casinosen.wikipedia.org

  The expanded Ameristar Casino Resort Spa Black Hawk opened with a 33-story hotel, spa, pool, and meeting facilities.

• 2007

  Resorts East Chicago acquired

  [1]Ameristar Casinosen.wikipedia.org

  Ameristar acquired the Indiana casino from Resorts International Holdings.

• 2004

  Entry into Black Hawk, Colorado

  [1]Ameristar Casinosen.wikipedia.org

  Ameristar acquired Mountain High Casino and began developing the property into a larger Ameristar resort.

• 1996

  Council Bluffs casino opens

  [1]Ameristar Casinosen.wikipedia.org

  Ameristar opened the first of its Council Bluffs, Iowa, riverboat casino operations.

• 1993

  Ameristar Casinos becomes a public company

  [1]Ameristar Casinosen.wikipedia.org

  The corporation adopted the Ameristar Casinos name and listed on Nasdaq under the symbol ASCA.

• 1992

  First investment outside Jackpot

  [1]Ameristar Casinosen.wikipedia.org

  The company acquired Delta Pointe in Vicksburg, Mississippi, beginning its multi-state expansion.

• 1984

  Craig H. Neilsen becomes sole owner

  [1]Ameristar Casinosen.wikipedia.org

  Craig H. Neilsen obtained sole ownership of the family casino business and led its subsequent expansion.

• 1964

  Horseshu Club enters the operating group

  [1]Ameristar Casinosen.wikipedia.org

  Cactus Pete's took over management of the neighboring Horseshu Club in Jackpot, Nevada.

• 1954

  Cactus Pete's opens near the Idaho border

  [1]Ameristar Casinosen.wikipedia.org

  Cactus Pete Piersanti opened Cactus Pete's Desert Lodge, the business lineage from which Ameristar Casinos developed.

Regional casino and integrated hospitality operator serving local and drive-to gaming markets

• Integrated casino and hospitality properties

  Ameristar casino properties

  Ameristar's principal offering was a portfolio of regional casino destinations rather than a packaged consumer product. Properties typically included slot machines, table games, restaurants, bars, hotel rooms, entertainment, meeting space, and parking. Larger locations also offered spas, pools, and resort amenities. The portfolio served local and drive-to customers in state-regulated gaming markets.

• Casino resort · 2009

  Ameristar Casino Resort Spa Black Hawk

  The Black Hawk property originated as Mountain High Casino, acquired by Ameristar in 2004. After a major renovation and expansion, it opened under the Ameristar brand in 2009 as a destination resort with a 33-story hotel, 536 rooms, 64 suites, a day spa, enclosed rooftop pool, casino, and approximately 15,000 square feet of meeting and event space.

• Casino hotel · 1994

  Ameristar Casino Vicksburg

  Ameristar entered Vicksburg through its 1992 acquisition of Delta Pointe. The property opened as Ameristar Casino Vicksburg in 1994 and later received an adjoining hotel and a substantial expansion completed in 2008. It represented the company's early move from its Nevada roots into a broader regional gaming portfolio.

• Casino hotel · 2008

  Ameristar Casino Hotel East Chicago

  Acquired as Resorts East Chicago in 2007, the Indiana property was rebranded in June 2008. It combined casino gaming with hotel accommodation and entertainment programming. Ameristar subsequently announced plans to renovate its guest rooms and add further hospitality amenities.

• Casino resort · 1954

  Cactus Petes Resort Casino and Horseshu Hotel and Casino

  These Jackpot, Nevada, properties formed the historical base of Ameristar's business. Cactus Pete's began in 1954, while the neighboring Horseshu Club came under common management in 1964. Together they linked the company's later multi-state public-company identity to its original family-operated casino business.

• 2012Ameristar Cares workplace giving campaign

  United States

  Ameristar operated an employee giving and charitable participation program known as Ameristar Cares, supporting charitable organizations through company and employee fundraising.

  Outcome. The company reported that it and its employees raised nearly $7 million for charitable organizations in 2012.

  Source
• 2008East Chicago rebranding concert series

  East Chicago, Indiana

  To support the conversion of Resorts East Chicago into Ameristar Casino Hotel East Chicago, the company promoted an outdoor summer concert series featuring Lionel Richie, Smokey Robinson, and Reba McEntire.

  Outcome. The property was publicly relaunched under the Ameristar name.

  Source

• 2013

  Acquired by Pinnacle EntertainmentM&A

  Background

  Ameristar had become a multi-state regional casino operator and had reportedly been available for sale after Craig H. Neilsen's death.

  Action taken

  Pinnacle Entertainment completed the acquisition for $869 million and assumed approximately $1.9 billion in debt.

  Aftermath

  Ameristar ceased to operate as an independent public company, and its properties became part of Pinnacle's portfolio.

  Acquisition consideration and assumed debt. $869 million purchase price; approximately $1.9 billion debt assumed (August 2013 acquisition)

  Source

• 2012

  Withdrew the East Springfield casino proposalStrategy

  Background

  After Massachusetts legalized casino gaming, Ameristar proposed a hotel and casino on a former Westinghouse site, but faced competing bids and changing local preferences.

  Action taken

  Ameristar withdrew its proposal for the Western Massachusetts gaming license.

  Aftermath

  The company abandoned the East Springfield project rather than continue competing for the license.

  Source

• 2012

  Agreed to acquire Creative CasinosM&A

  Background

  Creative Casinos was developing the proposed Mojito Pointe casino resort in Lake Charles, Louisiana.

  Action taken

  Ameristar agreed to acquire Creative Casinos and planned to invest at least $500 million in the proposed resort.

  Aftermath

  The project remained under development when Pinnacle acquired Ameristar in 2013.

  Purchase price. $32.5 million (2012 announced transaction)

  Source

• 2009

  Opened the expanded Black Hawk casino resortProduct launch

  Background

  Ameristar sought to turn its Black Hawk gaming property into a destination resort rather than a casino-only operation.

  Action taken

  The company opened a large Casino Resort Spa complex with a high-rise hotel, spa, pool, meeting space, and expanded gaming and hospitality facilities.

  Aftermath

  The property became the first destination resort casino in Colorado according to the cited reference.

  Source

• 1993

  Adopted the Ameristar corporate identity and entered public marketsStrategy

  Background

  The company was expanding beyond its original Jackpot, Nevada, properties into regional gaming markets.

  Action taken

  It renamed the corporation Ameristar Casinos, Inc. and listed on Nasdaq under ASCA.

  Aftermath

  The new identity supported the development of a multi-state regional casino portfolio.

  Source

1. 1Ameristar Casinosen.wikipedia.org