Ameristar Casinos
 |
|
| Public company (NASDAQ) | |
| Industry | Gaming and hospitality |
| Fate | Acquired |
| Successor | Pinnacle Entertainment |
| Founded | 1954 in Jackpot, Nevada |
| Founder | Cactus Pete Piersanti |
| Defunct | 2013 (acquisition completed) |
| Headquarters | Paradise, Nevada, United States |
|
Key people
|
Gordon Kanofsky, CEO Larry A. Hodges, President & COO |
| Revenue | $1.22B (FY 2009) |
| $104M (FY 2009) | |
| $-4.67M (FY 2009) | |
| Total assets | $2.21B (FY 2009) |
| Total equity | $336M (FY 2009) |
|
Number of employees
|
7,100 |
| Website | ameristar |
Ameristar Casinos, Inc. was a casino operator based in Paradise, Nevada. It was acquired by Pinnacle Entertainment in 2013. The company had eight properties in seven markets.
The roots of Ameristar Casinos date to 1954 when "Cactus Pete" Piersanti opened Cactus Petes Desert Lodge on U.S. Route 93 just south of the Idaho border in Elko County. The area would later become Jackpot, Nevada. In 1956, Piersanti and others incorporated the property as Cactus Petes, Inc.
The corporation took over management of the neighboring Horseshu Club in 1964. Cactus Petes came under the partial control of Ray Neilsen of Twin Falls, Idaho, in 1967. Neilsen's construction company had built many of the structures at Cactus Pete's. Neilsen's son, Craig, assumed control of day-to-day operations upon the elder Neilsen's death in 1971. Craig H. Neilsen became sole owner in 1984.
A November 1985 automobile accident left Craig H. Neilsen a quadriplegic, but he continued to lead the company and expanded it. Neilsen was named “Best Performing CEO” by the American Gaming Association in 2002, and was inducted into the organization’s “Hall of Fame” in 2005. Craig H. Neilsen remained chairman and CEO until his unexpected death on November 19, 2006.
Ray H. Neilsen succeeded his father, serving as co-chairman with John Boushy, who also was promoted from president to CEO at the time of Craig’s death. Boushy resigned in June 2008 and was succeeded by Gordon Kanofsky, who previously served as the company's executive vice president, and now holds the dual role of CEO and vice chairman. Ray H. was named chairman at the same time.
In August 2013, Pinnacle Entertainment bought Ameristar for $869 million plus $1.9 billion in assumed debt. The company had reportedly been "on the sales block" since Craig Neilsen's death.
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Wikipedia