n a filing with the Securities and Exchange Commission, the estate of company founder Craig Neilsen, which owns 31.5 million shares, said it may consider a sale of all or part of its holdings in the company, or participate in a merger or other business transaction that could change control of Ameristar.
Neilsen founded the Las Vegas-based company and served as its chairman and chief executive until his death in November 2006. His son, Ray Neilsen, and Gordon R. Kanofsky serve as co-chairmen of the company and co-executors of the estate.
The estate said it continues to evaluate on an ongoing basis the company’s financial condition, operations, prospects, capital structure, value and price of the stock and other business developments and factors.
In response to the filing, Ameristar issued a release saying it is committed to its current growth strategy of making capital investments in Ameristar properties, and implementing improvement projects at its recently acquired Resorts East Chicago casino and hotel.
"We continue to operate our business as usual and our management team remains focused on delivering outstanding operating results," said President and CEO John Boushy in the release.
Ameristar shares jumped us$ 2.74, or 11.1 percent, to us$ 27.40 in afternoon trading. Shares have traded between us$ 23.32 and us$ 38 in the past 12 months.