“We would definitely be interested in that, as any gaming company in the state would be,” Jane Bell, the casino’s director of government relations said.

Betting on professional sports is a part of several gambling expansion bills being considered by Iowa lawmakers as a way to close budget gap since sports wagering would not only boost revenue for Iowa casinos, but also could be taxed, benefiting state coffers.

The betting bill was approved unanimously earlier this month by an Iowa Senate subcommittee and was OK’d by the full Senate State Government Committee.

However Congress would need to lift the 1992 federal ban on sports betting before anyone can benefit. Delaware, Montana, Nevada and Oregon were grandfathered in as their laws were in effect before the ban.

That doesn’t stop gaming companies like Ameristar from being excited about the future, Bell added “It would add another dimension, a little excitement and a little buzz.”

However, these initiatives were not enough to prevent the gaming company from posting a loss for the fourth quarter.

While, Ameristar was able to lower expenses from $441.5 million to $363.3 million during the quarter, they still posted a loss of $63.3 million or $1.10 per share.

Excluding $0.16 per share related to a higher interest expense and other items, earnings were posted at $0.11 per share, with quarterly revenue dropping 1% to $291.3 million.

Ameristar was however able to narrow the loss for the year to $4.7 million from $130.7 million, while declining 4% in yearly revenue from $1.27 billion to $1.22 billion.

Executives for the company contribute the loss to continued struggles related to the recession as well as the permanent closure of a main artery bridge near its Ameristar East Chicago casino and bad weather in the Midwest.

Shares for ASCA dropped $0.39 in morning trading to $15.76 from its opening price of $16.15.

The bill is aimed at local casinos collecting debt owed on back-taxes, unpaid child support or court fines on gambling winnings of more than $1,200.

Casinos already run a debt-check for jackpots of over $10,000, but Susan Cameron, a lobbyist for the Ameristar Casino in Council Bluffs, says that not only will it cost them customers but suggests casinos will face security issues with the move.

Cameron told the Senate that if customers come to the counter to collect on winnings and don’t receive prize money they’re going to be frustrated with the cashiers and may act out.

However, Senator Staci Appel who’s been reviewing government reform proposals for the past eight months, told reporters after the meeting that she’s “not interested” in the complaints saying, “Obviously these people owe the state and they need to pay their bills to the state, They probably shouldn’t be there (gambling) in the first place.”

The Global Institute has been supported by Ameristar since 2005, and were among the first wave of doctors flown into Haiti to help earthquake victims with a vast range of injuries, including amputations and spinal cord injuries resulting from falling debris.

“Ameristar is proud to make this donation on behalf of its more than 7,000 team members company-wide. Many of our team members have been directly impacted by this tragedy,” said Gordon R. Kanofsky, Ameristar’s Chief Executive Officer and co-trustee of The Craig H. Neilsen Foundation. “As our charitable giving focus is on helping those who have suffered spinal cord injuries, we can think of no better way to assist in the “healing” than by partnering on our team members’ behalf with an internationally recognized organization like the Miami Project and the University of Miami’s Global Initiative.”

“This donation by the Neilsen Foundation to aid injured victims of the Haiti earthquake is clearly in line with my father’s wishes for his Foundation, and I am confident it will make a positive difference in the quality of the lives of those affected,” said Ray H. Neilsen, co-trustee of the Neilsen Foundation and Chairman of the Board of Ameristar.

Niere attended what he refers to as a “Drinking event” sponsored by Tan Co which advertised that alcohol would be available to anyone, even if under the legal drinking age.

The teen claims he became visibly drunk and Ameristar employees continued to serve him, which lead to him falling off a 90 foot cliff into a quarry, where he suffered from broken bones, a collapsed lung, renal failure, nerve damage, respiratory failure and pneumonia.

The complaint claims that the St. Charles, Missouri casino employees were reckless in its monitoring and supervision of him; and that the casino was negligent in hiring and training of its employees.

Niere will be seeking damages for negligence and recklessness.

Kinkade has been with the gaming company since 2004, where she handled media relations and oversaw the Kansas City property’s community affairs and team member communications.

Senior Vice President of Government Relations and Public Affairs Troy Stremming said, “Kinkade is a superb communications professional who has an extensive understanding of the Ameristar culture and broad experience in all aspects of external communications. Her expertise will enable her to lead Ameristar’s communications operations forward in a strategic and progressive manner.”

Sean Barnard served as General Manager of Odawa Casino Resort in Petoskey, Michigan, Assistant General Manager for Bally’s Casino in Tunica, Mississippi, Vice President and General Manager of Isle of Capri Resort and Casino in Lula, as well as Senior Director of Marketing for that property. Barnard has also worked for gaming properties in Nassau, Bahamas and Brighton, England, as both an administrator and pit manager.

Senior Vice President of Operations Michelle Shriver said in response to the announcement, “Sean’s innovative approaches to creating measurable results, both in increased guest loyalty and positive player experiences will further enhance the efforts of the strong team we have in Kansas City. His successes include building growth-oriented leadership teams and enhancing Team Member engagement. Sean’s involvement in the community makes him a great fit for Ameristar’s culture of giving. He has been active in many charitable organizations, including the Ronald McDonald House Charities for which he served as both Vice President and as a member of the board of directors.”

According to the Missouri Gaming Commission, the region’s six casinos currently opened for business brought in a combined total revenue of $83.2 million in December 2009.

Although this is only an increase of 1% from December 2008 revenue totals of $82.2 million, the commission’s data reported that the regions biggest casino by revenue is Ameristar Casino St. Charles.

Ameristar St. Charles saw business improve by 1.5% for the year, passing Harrah’s in Maryland Heights, former first place revenue generator.

The casino also had a revenue increase of 2% last month to $23.9 million as compared to the $23.5 million earned in December 2008.

In a court action filed on Monday, Ameristar is attempting to appeal values on improvements at the area’s largest gaming venue placed by the board and the assessor for 2009.

The company is alleging discriminatory treatment for the $90,3787,370 true value set by county officials for the connecting structure between the casino and parking garage and the formerly floating unused, cemented cofferdam.

Taxes on the structures were charged at $1,662,359 which the casino argues is $437,842 too high, compared to its own calculations presented to supervisors during an administrative appeal earlier this year.

In September the supervisors approved Assessor Richard Holland’s recommended $92.4 million true value on the improvements, a total which was higher than that mentioned in the casinos formal appeal and 24% less than the value placed by the county before the formal objection period ended in July.

County officials argue that Ameirstar provided the information after the deadline and called a special county board meeting in September, where the casino made arguments that the properties value was between $66.5 million and $82.7 million.

Appeal documents say the casino improvements true value was closer to the low end of that estimate.

The tax value was calculated when Holland prompted a 5.9% increase in land values in the county, despite plummeting property values nationwide. One fourth of all parcels are revalued in Warren County annually often resulting in higher assessments and taxes even if the tax rates remain unchanged and market prices fall.

Property taxes, due by the casino are the largest source of funds for the county and the second largest for city operations.

Senior Vice President and General Manager, Pete Savage said he was disappointed with Indiana Department of Transportation’s decision to permanently close and demolish the bridge over the Indiana Harbor and Ship Canal as they have already suffered an impact from the closure.

The bridge was initially closed as a temporary precaution after state bridge inspectors advised they found significant corrosion that could be potentially dangerous to the 30,000 daily travelers.

On Monday INDOT said, “The structural integrity of the bridge is in such a diminished state that any combination of repair or reconstruction…would cost in the tens of millions of dollars and offer a lifespan that would be a fraction of that justified by the investment.”

The gaming company has said they would work with city officials and INDOT to come up with alternative routes for patrons.

“We understand this very difficult decision and support INDOT’s concern for safe passage, as the safety of our guests and employees is always of the utmost importance.”

Among those effected by the mid November road closure, Ameristar Casino (ASCA: 17.05 0.00%) is stressing the importance of keeping some of the lanes opened, as it is a major arterial road to Northwest Indiana.

If the state decides to tear down the bridge and rebuild, it is estimated that it could be closed for up to three years and cost approximately $90 million.

Peter Savage, Senior Vice President and General Manager of the casino pointed out that the road closure not only effects Ameristar but the Horseshoe Hammond and Majestic Star casinos as well as the ArcelorMittal’s steel making facility and research center.

When asked by the press if the casino would help cover the expensive cost of repairs to allow parts of the bridge to remain open Savage responded that “Those types of discussion are premature based on the latest information we have from INDOT.”

The gaming resort was opened in St. Charles Missouri in 2008, and is the only hotel in the area to win the elite honor.

The AAA Four Diamond Destination recognition is bestowed only to lodging and restaurants that consistently achieve a high level of quality and service. Less than 4 percent of lodging establishments in North America have attained this level of excellence.

Ameristar CEO and Vice Chairman Gordon Kanofsky acknowledged the award by saying, “Ameristar is honored by the designation, which affirms the dedication to excellence at our eight properties.”

Other Ameristar properties to hold this honor are in Council Bluffs, Iowa and Jackpot, Nevada.

The revolving loans maturing on November 10, 2010 have been restructured for extension until August 10, 2012.

$514.4 million of the extended revolving loans are currently outstanding and have been priced 37.5 basis points higher than the preexisting loan tranche.

The $150 million of non-extending revolving commitments of which $128.6 million are currently outstanding remain priced at 287.5 basis points over LIBOR.

The extensions have cost the company $6.7 million in one time fees paid to joint lead arrangers and extending lenders.

“This 21-month extension provides us with the flexibility to continue to successfully operate our business and defer the complete refinancing of our bank credit facilities in these difficult economic times,” said Gordon Kanofsky, CEO “We are grateful for the support of our lenders and believe it reflects the confidence they have in our Company. We expect the Company will generate sufficient operating cash flow to retire the 2010 tranche of the revolving loan commitments upon their maturity.”

The gaming company will be honored for their outstanding corporate philanthropic program at the group’s annual National Philanthropy Day awards event. The ceremony will be held on Thursday November 19 at the St. Louis Airport Hilton.

Ameristar Casinos, develop, own and operate eight casino entertainment facilities in Missouri, Colorado, Mississippi, Iowa, Indiana, and Nevada.

The casino operator joins the ranks of other recipients including Lewis and Clark Boat House and Nature Center, the Foundry Art Centre, the American Liver Foundation, the Muscular Dystrophy Association, SSM Healthcare and Special Olympics Missouri, who have previously been awarded this top corporate honor.

Ameristar Casinos (ASCA: 17.05 0.00%) Colorado based Resort Spa, Black Hawk, has cashed in on the opportunity. The facility reported a 24 percent increase in revenue during the third quarter.

Black Hawk was the only property for the Las Vegas based gambling company to post a gain for the quarter. Overall, Ameristar reported a 6.8 percent sales decline.

The company reported revenue for the third quarter at $26.2 million up from the $21.1 million last year.

Ameristar Casinos, develop, own and operate eight casino entertainment facilities in Missouri, Colorado, Mississippi, Iowa, Indiana, and Nevada.

According to Stephen Altebrando of Sidoti and Company, experts who once underrated Ameristar’s local casino operations now have upgraded the company beyond its ability to perform.

“We think revised estimates have overshot to the upside,” Altebrando said in a client note.

Sidoti lowered its Ameristar rarting from “buy” to “neutral.”

The company cites cost-cutting and spending reductions last year by Ameristar as examples of changes that will only have a one-time effect, and will be unlikely for the company to reproduce over the course of 2009.

While concerns that economic worries are returning caused a market plummet, Ameristar rose as Morgan raised its evaluation of the gaming company from overweight to neutral. Morgan said the change is due to higher expectations for regional casinos in the short term.

Morgan gambling experts also cited Ameristar’s “ability to deliver peak margins,” and mentioned second-quarter performance as promising good results in the future.

JPMorgan also raised the price target for Ameristar, taking the price from $20 to $24 per share.

The Wall Street Journal notes that Ameristar is up one hundred twenty percent since the beginning of the year. Investors have been far kinder to regional gaming operators than owners of destination casinos.

The community enhancement project came about from a development deal arranged between the gaming operator and the state agency in 2006. Financing comes from Ameristar, the Port Authority, the Missouri Department of Transportation, and Kansas City.

The heritage trail will eventually provide a walking connection between the park and the restored riverfront ecosystem zone operated by the port.

“It has taken years of negotiations, redesign and fund raising, to get to this point,” Trey Runnion, chairman of the Port Authority board of commissioners.

Of the notes, $500 million were sold at just over 97 percent of the principal. Another $150 million were sold at 100 percent of principal amount.

Cash generated was used to pay off existing rotating loans and debt commitments. As a private offering, the notes are not registered with the Securities and Exchange Commission.

Ameristar will also use funds for continuing operations of its eight regional casinos. Ameristar casinos are expecting an earnings bump as new gambling laws in Colorado and Missouri come into effect.

In Cripple Creek, as many as five hundred new jobs will be available at town casinos. Dealer positions are by far the most numerous being offered.

Hiring is also expected to jump at Black Hawk and Central City, the other two legal gambling areas in Colorado.

The addition of roulette and craps means even existing employees will most likely need additional training. Other new laws include the raising of maximum bets from five to one hundred dollars, and the extension of operating hours to allow twenty-four hour business.

Colorado is coming off one of its worst years for casino gambling revenue, but hopes are that the new rules will reverse the state’s gaming fortunes.