2007 Annual Report - Ameristar Casinos, Inc.

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As we finalize our growth projects in St. Charles, Vicksburg, Black Hawk and East Chicago,we remain keenly aware of the current environment and softening economy. Our expertisein the analysis of fundamentals, coupled with our centralized, hands-on operating approach,will continue to serve us well as we evaluate the further development of properties and ouroperating cost structure in the context of potentially higher costs of capital and a morerestrictive borrowing environment. We are committed to making judicious decisions that willbenefit both the short-term and long-term growth of Ameristar.The first half of 2008 is likely to be a period of difficult same-store, year-over-year comparisons,reflecting the general economic slowdown, the impact of weather in the first quarter andconstruction disruption as we complete our investments. Ameristar is very well positionedto drive market growth, increase market share and report improving operating profitabilitywhen economic conditions begin to improve.THANK YOU!I am, as always, grateful for the passion and dedication of Ameristar’s team members –qualities which were especially important in this first full year after the sad and untimelypassing of our founder, Craig H. Neilsen, in late 2006. Craig left us a great legacy uponwhich we build every day. The daily efforts of our team to create excellent experiences forour guests in all aspects of our operations permeates every level of the Company from thecasino floors, fine-dining restaurants, lobbies and hotel rooms that our guests frequent toour corporate offices. I would also like to thank you, our shareholders, for your support andconfidence. 2007 was a good year; not great, but good. The entire Ameristar team looksforward to delivering a better year in 2008.Sincerely,John M. BoushyChief Executive Officer and President
UNITED STATES SECURITIES AND EXCHANGE COMMISSIONWashington, DC 20549FORM 10-KANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGEACT OF 1934For the fiscal year ended December 31, 2007orTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGEACT OF 1934For the transition period fromtoCommission file number: 0-22494AMERISTAR CASINOS, INC.(Exact Name of Registrant as Specified in Its Charter)Nevada 88-0304799State or Other Jurisdiction of(I.R.S. Employer Identification No.)Incorporation or Organization3773 Howard Hughes ParkwaySuite 490 SouthLas Vegas, Nevada 89169(Address of Principal Executive Offices)Registrant’s Telephone Number, including area code: (702) 567-7000Securities registered pursuant to Section 12(b) of the Act:Title of Each ClassCommon Stock, $.01 par valueName of Each Exchange on Which RegisteredNasdaq Global Select MarketSecurities registered pursuant to Section 12(g) of the Act:None(Title of Class)Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes No Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes No Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filingrequirements for the past 90 days. Yes No Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§ 229.405 of this chapter) is not contained herein, andwill not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form10-K or any amendment to this Form 10-K. Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. Seethe definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):Large accelerated filer Accelerated filer Non-accelerated filer Smaller reporting company (Do not check if a smaller reporting company)Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes No Aggregate market value of voting and non-voting stock held by non-affiliates of the registrant as June 29, 2007: $914,751,898Number of shares of Common Stock outstanding as of February 15, 2008: 57,189,255Portions of the registrant’s definitive Proxy Statement for its 2008 Annual Meeting of Stockholders (which has not been filed as of the date of thisfiling) are incorporated by reference into Part III.
Page 3 and 4: Dear Fellow Shareholders,I am pleas
Page 5: Ameristar Black Hawk, which reporte
Page 9 and 10: Unless the context indicates otherw
Page 11 and 12: Ameristar St. Charles. Ameristar St
Page 13 and 14: Ameristar Vicksburg. Ameristar Vick
Page 16 and 17: Kansas CityAmeristar Kansas City co
Page 18 and 19: Should additional gaming developmen
Page 20 and 21: The Missouri Act provides for a buy
Page 22 and 23: Iowa has a graduated wagering tax e
Page 24 and 25: The Indiana Act provides that the s
Page 26 and 27: after receiving notice that a perso
Page 29 and 30: Pursuant to an amendment to the Col
Page 31 and 32: There are various classes of retail
Page 33 and 34: The Nevada Commission may, at its d
Page 35 and 36: Item 1A. Risk FactorsThe gaming ind
Page 37 and 38: two years, our gaming licenses in I
Page 39 and 40: We have limited opportunities to de
Page 41 and 42: The Ameristar Vicksburg site has ex
Page 43 and 44: PART IIItem 5. Market for Registran
Page 45 and 46: AMERISTAR CASINOS, INC.CONSOLIDATED
Page 47 and 48: the rebranding, improving from an 1
Page 49 and 50: The following table presents detail
Page 51 and 52: Operating IncomeIn 2006, consolidat
Page 53 and 54: At Ameristar St. Charles, we are ne
Page 55 and 56: Historically, we have funded our da
Page 57 and 58:
Customer Rewards ProgramsOur custom
Page 59 and 60:
Item 7A. Quantitative and Qualitati
Page 61 and 62:
(a) 2. Financial Statement Schedule
Page 63 and 64:
ExhibitNumber Description of Exhibi
Page 65 and 66:
SIGNATURESPursuant to the requireme
Page 67 and 68:
MANAGEMENT’S ANNUAL REPORT ON INT
Page 69 and 70:
REPORT OF INDEPENDENT REGISTERED PU
Page 71 and 72:
AMERISTAR CASINOS, INC.CONSOLIDATED
Page 73 and 74:
AMERISTAR CASINOS, INC.CONSOLIDATED
Page 75 and 76:
InventoriesInventories primarily co
Page 77 and 78:
Income taxesIncome taxes are record
Page 79 and 80:
The Company recorded $5.6 million,
Page 81 and 82:
Senior credit facilitiesIn November
Page 83 and 84:
Future minimum lease payments requi
Page 85 and 86:
Years ended December 31,2007 2006 2
Page 87 and 88:
The unaudited pro forma consolidate
Page 89 and 90:
STOCK PRICE PERFORMANCEThe followin
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2007 Annual Report - Ameristar Casinos, Inc.

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