Aztar Prefers Ameristar Offer - Thursday 27th of April 2006

PHOENIX, Arizona – Aztar Corporation (NYSE: AZR) today said that its Board of Directors has determined that a further revised definitive offer received on April 24, 2006 from Ameristar Casinos, Inc. to acquire Aztar is a superior proposal when compared to the terms of Aztar's current merger agreement, as amended, with Pinnacle Entertainment, Inc. Under the terms of its revised definitive offer, Ameristar would acquire Aztar in a merger transaction in which the holders of Aztar common stock would receive $47.00 per share in cash and the holders of Aztar's Series B preferred stock would receive $497.09 per share in cash. The revised definitive offer included a signed merger agreement. Ameristar also provided a signed financing commitment letter.

Ameristar stated in its revised definitive offer that the offer will remain open until, and will automatically expire if not accepted by, 2:00 p.m. (Las Vegas time) on Friday, April 28, 2006.

Under the terms of Aztar's merger agreement with Pinnacle, Aztar must wait three business days before it can terminate the merger agreement with Pinnacle and enter into a merger agreement with another party. As previously announced, Aztar and Pinnacle amended their merger agreement on April 23, 2006 to increase the purchase price for each share of Aztar common stock to $45.00 in cash. Aztar's Board is not making any recommendation at this time with respect to the revised Ameristar offer, and there can be no assurance that Aztar's Board will approve any such transaction or that a transaction will result.

Other news from around the same time

Harrah's Entertainment Declares Quarterly Cash Dividend - Thursday 27th of April 2006

LAS VEGAS The board of directors of Harrah's Entertainment, Inc. (NYSE:HET) declared a regular q....


MGM Mirage Appoints National Diversity Sales Manager - Thursday 27th of April 2006

LAS VEGAS – MGM Mirage today announced the appointment of Dzidra Junior as the company's Natio....


Progressive Gaming, Ameristar Casinos Sign Deal - Thursday 27th of April 2006

LAS VEGAS Progressive Gaming International Corporation (NASDAQ: PGIC) a leading provider of dive....


Gambling Just Got Better At The Fitz - Wednesday 26th of April 2006

It didn't take long for Fitzgerald's new director of marketing, Glenn Buxton, to inject his heavy c....


Tribal Gambling: Leaving Las Vegas - Wednesday 26th of April 2006

by Howard StutzLas Vegas Gaming WireSAN DIEGO, California After nearly five years working the slot....


Calfornia Gaming: Tribes Fly High - Wednesday 26th of April 2006

by Howard StutzLas Vegas Gaming WireSAN DIEGO, California Joe Welch Sr. has lived his whole life o....


Mega Millions Jackpot Grows to Estimated $30 Million - Wednesday 26th of April 2006

UNITED STATES – The Tuesday, April 25, 2006Mega Millions drawing really brought out the winners....


VendingData to Acquire Casino Chip Maker - Wednesday 26th of April 2006

LAS VEGAS – VendingData(TM)Corporation (Amex: VNX), announced today that it has entered into a ....


UK Gambling Boom Fuels Super-Rich - Tuesday 25th of April 2006

LONDON – As reported by the Peninsula: "Britian's gambling boom has helped fuel a 20% increase in....


Public Consulted on UK Casino Ad Rules - Tuesday 25th of April 2006

UK – As reported by the BBC News: "Casinos and gambling websites could be allowed to advertise on....