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Ameristar Makes Purchase

Ameristar Casinos, Inc. is pleased to announce that they have decided to purchase Resorts International Holdings, a riverboat casino in East Chicago, Indiana. The Las Vegas casino operator has decided to expand its holdings to outside the state of Nevada.

Ameristar has signed the papers and Resorts is now theirs. They are planning on expanding the operation and adding more slot machines so that there is double the number that there are now. They are also planning on making the riverboat a four story slot machine casino, so that there is plenty of room for the slots.

The company still has to complete their due diligence, and the deal is subject to approval from the State Gaming Control Board, but when all is said and done the riverboat slot machine casino will be theirs for $675 million. They are hoping to be done with all of the formalities by the end of the year. Once complete, they will start an expansion that should be completed by the end of 2010.

When finished, it will have 4,000 slot machines and 120 tables, as well as renovated restaurants and entertainment venues to bring in even more people than they anticipate with just the addition of the slots. They were looking for a way to break into the Chicagoland gambling market, and this is the perfect opportunity for the company. There are five casinos in the area, and they bring in more than $2.5 billion annually.

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