Australian Crown denies Ameristar bid interest
Ameristar, which has eight casinos around the United States, has been rumoured as a possible takeover target since founder and former chairman Craig Neilsen died in November 2006, the dailies said. His estate has a stake of about 55 percent. "Crown has not undertaken or commissioned any evaluation of Ameristar and nor is it proposing to do so," Crown said in a statement to the Australian stock exchange.
The media speculation was sparked by a research report from investment bank UBS, which reportedly said Ameristar could be a good fit with Crown’s expanding international gaming business.
Crown owns 19.6 percent of privately held Fontainebleau Resorts LLC, which is building a new us$ 2.9 billion casino resort in Las Vegas and completing a renovation of its landmark Fontainebleau Miami Beach Hotel.
Crown also owns two casinos in Australia and last December bought Cannery Casino Resorts for us$ 1.75 billion, giving it three casinos in Las Vegas and a racetrack in Pittsburgh. In addition, it has a casino joint venture in Macau and nine Canadian casinos.
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