Ameristar Casinos, Inc. (NASDAQ:ASCA)

On-line gaming!

Company is carrying a massive amount of debt, incredibly dangerous in this economic environment

Loss making, current ratio below 1, huge long term debt.

UNDERVALUED... Trading at -25 P/E ratio...

Gaming stocks beaten severely, look for the upswing.

Creating a portfolio based on calling outperform on every alcohol, tobacco, pornography and gambling stock I can find.

Good running casino. No major foreseeable troubles. Casino-lots of cash!

This stock beat the estimates for the last 3 quarters. Their fundamentals are questionable. But at this price, I have to put them at a buy.

Casino's make money, remember the house always wins!

This stock is worth the gamble!

Just opened a 400 suite luxury hotel and casino in St. Charles along with state of the art machines, a bar, a night club and a luxury spa. Currently building a large skyscraper hotel in Blackhawk, CO with an already open casino.

I am new to the game here and am not approaching this from a financial analysis standpoint (as I don't have the tools quite yet), but more of a basic economic one. Hope my first rating goes off alright. Here goes.

I live in downtown Chicago. The Chicago Transit Authority (the CTA) is the government entity that provides funding for the city's public transportation. The CTA is severely underfunded. Last week, the Illinois government was forced to intervene and provide emergency funding to avoid a shut down of some 81 bus lines and increasing transportation fares by some 50-75% (from approximately $2.00 to $3.25 per trip). That is a significant rise for those who don't spend their time on the CAPS board. More importantly, the money provided by the Illinois government was only a stop-gap measure. The CTA is already looking at repeating the above cuts and rate hikes come January 11th. So what does this have to do with ASCA you ask?

ASCA's main assets are in "Chicagoland". For the uninitiated, Chicagoland includes the sprawling suburbs around the city of Chicago itself, which includes northern Indiana. All of the casinos in Chicagoland are located in northern Indiana (on quasi-boats), about 45 minutes from downtown Chicago, as Illinois does not allow casinos. So spill it already.

There has been talk for many years now of allowing casinos in downtown Chicago. The current administration has been opposed to casinos. However, faced with needing a permanent solution to the CTA problem the Illinois government is now considering a downtown casino. Don't believe me: http://www.suntimes.com/news/metro/642036,cta110807.article

Now I don't know actual figures (though I do know a few gamblers), but my guess is that a significant portion of the patrons of the Indiana casinos come from downtown Chicago or the surrounding suburbs. In addition, any casino licenses granted in the city are likely going to result in massive Vegas style attractions (how many cities/destinations the size of Chicago have casinos DOWNTOWN?!). Having been to the existing casinos, they will not stand a chance against such a behemoth/s. And I, for one, will never drive 45 minutes to get my gambling fix if I can travel 10 minutes in a cab. I would guess that the legislature agreeing to grant a Chicago license would severely damage this stock's value. Better hope they sell soon.

Gaming in the US is dead outside of Vegas. The internet has killed it.

55% owner says "no sale" and p/e is excessive

Multiple opportunities for this company to grow as insiders release shares to the market.

Am familiar with the blackhawk casino and am impressed.

“The Rising Star” Ameristar Casinos founded way back in mid-50s, is one of the oldest operators of casinos in the US. The business is spread over five states where it also runs hotels, entertainment and other facilities. Missouri generates over 60% of the revenue, where half of the company’s property, including the famous Ameristar St. Charles and Ameristar Kansas City, is located. The company’s major drivers have always been casinos, which contribute to over 80% of the tally. Most of the casino revenue is generated by slot machines.

Shares of Ameristar are presently seeing a big rally. The sudden demise of the company’s CEO and majority stake holder, Mr. Craig Neilsen, led to speculation that the stock will go on the auction block. The recent acquisition boom in the casino industry, as we saw in the case of Harrah and Casino Station, backed the speculation. However, looking at Ameristar fundamentals it is also a good bet. The company is witnessing a steady growth in the top line, enhanced by the good performance of its latest casino, Black Hawks. Revenue will further grow thanks to the expansion project of Ameristar Vicksburg with 800 new gaming positions, and renovations and enhancements of 400 new rooms at Ameristar St. Charles. They are estimated to open in 2007. Additionally, the recently completed principal highway connecting Black Hawk and Denver will also help Black Hawk in attracting more guests and in establishing a healthy market share in the Colorado market. So, considering the company’s operations in diversified markets, a healthy pipeline, and improved margins due to recent cost cutting measures, Ameristar could be the next rising star of the stock market.

possible takeover target-have load debt load & nice earnings

Although competition is growing, Ameristar is still well positioned to improve their numbers. American greed will keep this pick in positive territory for a long time.

Ameristar Casinos is benefiting from a backlash against on-line gambling. Recent legislation and criminal action taken against one on-line gambling owner result in an aura of legitimacy for a well run location-based casino