ASCA - Ameristar Casinos Inc

Ameristar Casinos, Inc. is a Nevada based casino operator. Their head office is in Clark County, Nevada. The company owns eight casinos across the United States including 2 of the nation's largest casinos situated in St. Charles and Kansas City. The company is one of the market dominators in the casino business with businesses covering almost all of the United States' gambling markets.

It all started with Cactus "Pete" Piersanti back in 1954 with him opening the Cactus Pete's Desert Lodge, just off Route 93 in Elko County near the Idaho border. This area would later be known as 'Jackpot', Nevada. Piersanti took in some companions and started the company Cactus Pete's, Inc. in 1956.

The company went on to gradually buy out the Horseshoe Club in 1964 and took over the management. Then Ray Nielsen from Idaho, came into the control of the corporation, following a close relationship with Pete during the construction of many buildings at the Cactus Pete's, by his construction company. Craig Nielsen, the son of Ray gained control of the business after Ray passed away in 1971 and gradually gained sole ownership of the company in 1984.

The purchase of Delta Pointe in Vicksburg, Mississippi, marked the start of the company's future ventures outside of Jackpot. The property was reopened as the Ameristar Casino Vicksburg after the redevelopment of the property in 1994. The company continued the expansion by constructing an adjoining hotel and went on to make another expansion of $100 million in 2008. Ameristar also has made successful ventures into the riverboat casino business, starting with the first in 1996 at Council Bluffs, Iowa. The Reserve Hotel casino was opened in 1998 at Henderson, Nevada, to continue with the entire boom in the business.

After the regulatory reform in Missouri by voters in 2008-09, the table limits capped at $500 were repealed and the betting cap relaxation the business went into an even bigger boom. Even though the financial performance of casinos and other gaming businesses have been severely damaged by the present economic recession on the Las Vegas Strip, Ameristar as well as other regional casino operators have fared much better, as customers have opted for entertainment and gaming venues closer to home. This has ensured that even though the profits have reduced many folds still they are making enough profits to stay afloat unlike, the other gaming corporations who were forced to declare Chapter 11 for protection against bankruptcy.

www.gamblinginfo.com
07/10/2009
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