Big expansion in St. Louis project announced

Tuesday, June 26, 2001 | 10:40 a.m.

Ameristar Casinos Inc. of Las Vegas announced today it is increasing its expansion plans for its St. Louis-area casino in response to heavy demand in that market.

In plans filed with the Missouri Gaming Commission, Ameristar said it now plans to operate two vessels at its St. Charles casino. The vessels will encompass 115,000 square feet of casino space, 3,700 slot machines and 104 table games; Ameristar's original plans called for a total of 70,000 square feet of casino space, 2,400 slot machines and 60 table games. Restaurant and entertainment space will be increased dramatically as well, Ameristar said.

The project's cost will rise from $110 million to $160 million as a result. Ameristar still projects the expansion will open in mid-2002.

Ameristar acquired the St. Charles boat and a casino in Kansas City from Station Casinos Inc. in December for $488 million. In a related deal, Ameristar sold its Reserve hotel-casino in Henderson to Station for $70 million in January.

Station had spent $169 million expanding the St. Charles boat, but suspended construction in 1997. Ameristar resumed the project after its takeover.

Over the first five months of 2001, Ameristar St. Charles posted $56.5 million in gaming revenues, an increase of 17.5 percent.