BLACK HAWK, CO, Oct. 8, 2009 (Marketwire) --
BLACK HAWK, CO -- (Marketwire) -- 10/08/09 -- Ameristar Casinos, Inc. (NASDAQ: ASCA), will celebrate the opening of its 33-story, 536-room luxury hotel and spa at Ameristar Casino Black Hawk this morning during a ceremony held at the Las Vegas-style gaming and entertainment destination. The new hotel is the tallest structure between Denver and Salt Lake City.
"Ameristar remains very enthusiastic about Black Hawk," said Ameristar Chief Executive Officer Gordon Kanofsky. "Our $235 million investment in this expansion will generate more local economic development by attracting guests who would be spending their leisure dollars elsewhere. We look forward to introducing Ameristar's exceptional guest service, gaming, luxury amenities and food and beverage offerings to an even broader range of guests."
The expansion makes Ameristar one of Gilpin County's largest employers, with more than 720 Team Members. In 2008, Ameristar Casino Black Hawk had a payroll of more than $22 million, and it has increased current staffing levels by approximately 45 percent over the previous year to accommodate the larger facilities and increased guest traffic.
"We are seeing a brand new demographic of guests," said Reggie Fullwood, Senior Vice President and General Manager of Ameristar Casino Hotel Black Hawk. "These are people who are new to our casino and new to our market, and they are bringing a lot of energy and enthusiasm with them."
In January 2009, Black Hawk voters passed a local referendum to implement Amendment 50, a statewide provision that liberalized several Colorado casino regulations. The new hotel and spa enable Ameristar to fully leverage the changes, which included increasing single-bet limits to $100, operating the casino 24 hours daily and adding the games of craps and roulette.
"With the investment we have made in the Black Hawk community, we are very proud of the jobs we have been able to create," Fullwood said. "Along with our industry partners, we are also proud of the benefit that Colorado will receive from increased tax revenues. The state of Colorado is expected to receive millions in gaming tax dollars, the bulk of which will go to cash-strapped community colleges."
In the four years Ameristar has owned the property, the Company has paid more than $63 million in casino and other taxes to Black Hawk, Gilpin County and the state. Amendment 50 is expected to increase guest traffic and spending for all Colorado gaming properties, thus increasing state and local tax revenues while creating more jobs.
With the opening of the new hotel and spa, Ameristar Casino Hotel Black Hawk has undergone a transformational expansion, offering guests:
- A 33-story, four-diamond quality hotel tower with 536 well appointed rooms, including 64 suites.
