Ameristar Casinos Completes $2.2 Billion Financing to Repay Existing Debt and Fund Stock Repurchase

Ameristar Casinos, Inc. ASCA today announced that it has obtained $2.2 billion of new debt financing that has been or will be used (i) to repurchase its outstanding 9 1/4% Senior Notes due 2014 tendered pursuant to the tender offer announced on March 29, 2011, including payment of the tender premium and accrued interest, (ii) to prepay and permanently retire all of the indebtedness under Ameristar's existing senior secured credit facilities, (iii) to repurchase 26,150,000 shares of Ameristar common stock from the Estate of Craig H. Neilsen as previously announced, (iv) to pay related fees and expenses and (v) for Ameristar's general corporate and working capital purposes. Ameristar expects to close the stock repurchase transaction on April 19, 2011. Approximately 99.9% of the $650 million aggregate principal amount of 9 1/4% Senior Notes due 2014 were tendered and repurchased pursuant to an early settlement date under the tender offer, and the tender offer will remain open until April 25, 2011.