Ameristar reports record profits

2007-05-03 16:33:59

Ameristar Casinos has announced a rise in profits for the first quarter of 2007, based in part on the good performance of its Ameristar Black Hawk casino.

The casino, found just outside of Denver, Colorado, reported revenues of $22.1 million for the first three months of 2007 &ndash a year on year increase of 35 per cent. The figures helped Ameristar post a net income of $24 million.

Such an income, equivalent to 41 cents per share, was above analyst expectations of 37 cents per share.

"Ameristar continues to deliver record financial performance as we begin [2007]. Our first quarter in 2007 is our strongest quarter ever," said the firm's chief executive John Boushy.

Last month the firm revealed it was to buy a riverboat casino near Chicago for $675 million.

In recent years Ameristar has also contributed significant sums to medical organisations such as the Nevada Cancer Institute.


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