Estate of Ameristar Casinos (ASCA) Founder Neilsen Will Evaluate Strategic Alternatives

In an amended 13D filing on Ameristar Casinos Inc. (Nasdaq: ASCA) this morning, the Estate of Craig H. Neilsen, and its Co-Representatives, disclosed a 55.2% stake in the company. The Estate, and its Co-Representatives noted that since the passing of Craig H. Neilsen, said they have undertaken and will continue to evaluate strategic alternatives that may become available with respect its holdings in the Company. The estate said alternatives may include: (1) a merger or other form of business combination or extraordinary or other negotiated transaction, (2) a transaction involving the Company’s transfer or disposition of a material amount of assets and (3) open market transactions in the Company’s Common Stock.

From the filing:

"While the Co-Representatives are under no current compulsion to engage in any transaction or support any transaction by the Company, on the basis of their ongoing review and evaluation, the Co-Representatives may at any time determine with or without additional notice to support or pursue one or more strategic alternatives to maintaining the Estate’s current ownership of the Shares, including without limitation engaging in sales of all or part of the Estate’s holdings or participating in a transaction or series of transactions or taking other actions with the purpose or effect of influencing or changing control over the Company. Such alternatives may include, without limitation, (1) a merger or other form of business combination or extraordinary or other negotiated transaction, (2) a transaction involving the Company’s transfer or disposition of a material amount of assets and (3) open market transactions in the Company’s Common Stock. There is no assurance, however, whether or when any transaction may result from the Co-Representatives’ ongoing review and evaluation.

In connection with their ongoing review, the Co-Representatives, in their representative capacities, may discuss, evaluate and explore with other members of management and the board of directors of the Company, and express their views and provide advice concerning, the Company’s business and operations, the value of the Company and its businesses, potential strategic alternatives and opportunities that may enhance shareholder value, and other issues that might affect the Co-Representatives’ evaluation of alternatives. In addition, as directors and officers of the Company, Ray H. Neilsen and Gordon R. Kanofsky may have influence over the corporate activity of the Company, including activity which may relate to transactions described in subparagraphs (a) through (j) of this Item 4."