Ameristar Kansas City Announces Plans for Hotel Expansion

2010-06-10
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  • Ameristar Ameristar Casinos, Inc. (NASDAQ: ASCA) announced plans to add 100 rooms and a fitness center to Ameristar Casino Kansas City's existing luxury hotel.

    The expansion is targeted for completion in the fourth quarter of 2011 at a cost of approximately $14 million. The addition will complement the property's existing 184 rooms and hotel lobby, which were extensively renovated in September 2006.

    "This expansion will mirror the elegance everyone has come to expect from Ameristar with the same finishes and furnishings found in our existing rooms," said Sean Barnard, Senior Vice President and General Manager of Ameristar Kansas City. "The timing is perfect; Ameristar has led the market for nearly seven consecutive years, our hotel occupancy is strong and the Missouri Gaming Commission recently approved 24-hour gaming which is scheduled to begin later this summer."

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    "This project reinforces our commitment to assist our team members in delivering an exceptional entertainment and hospitality experience," said Gordon R. Kanofsky, Ameristar Casino, Inc.'s Chief Executive Officer. "Although we have a longstanding commitment to economic development in Kansas City, we have been careful in allocating our free cash flow and capital during the recession. We are moving forward with this hotel addition now because we believe it will produce an attractive return on our investment," explained Kanofsky. 

    The hotel addition will feature 80 deluxe rooms and 20 suites, and connect into the hotel on each floor utilizing the existing infrastructure. An adjoining fitness center with state-of-the-art cardiovascular and strength-training machines will be available to all hotel guests. "We are in the design phase now," said Barnard. "Our goal is to accept construction bids in October and award the project in November."





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