2007 Annual Report - Ameristar Casinos, Inc.

MANAGEMENT’S ANNUAL REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTINGManagement of Ameristar Casinos, Inc. and subsidiaries (the “Company”) is responsible for establishing andmaintaining adequate internal control over financial reporting, as defined in Rules 13a-15(f) and 15d-15(f) under theSecurities Exchange Act of 1934. The Company’s internal control over financial reporting is designed to providereasonable assurance regarding the reliability of financial reporting and the preparation of financial statements forexternal purposes in accordance with generally accepted accounting principles.The Company’s internal control over financial reporting includes those policies and procedures that: (1) pertain tothe maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions ofthe assets of the Company; (2) provide reasonable assurance that transactions are recorded as necessary to permitpreparation of financial statements in accordance with generally accepted accounting principles, and that receiptsand expenditures of the Company are being made only in accordance with authorizations of management anddirectors of the Company; and (3) provide reasonable assurance regarding prevention or timely detection ofunauthorized acquisition, use or disposition of the Company’s assets that could have a material effect on thefinancial statements.Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements.Projections of any evaluation of effectiveness to future periods are subject to the risk that controls may becomeinadequate because of changes in conditions, or that the degree of compliance with the policies or procedures maydeteriorate.In conducting the Company’s evaluation of the effectiveness of its internal control over financial reporting, theCompany has excluded the Resorts East Chicago acquisition completed on September 18, 2007. The acquisitionconstituted 7% of total assets as of December 31, 2007 and less than 7% of revenues for the year then ended. Referto Note 10 of Notes to Consolidated Financial Statements for further discussion of the Resorts East Chicagoacquisition and its impact on the Company’s consolidated financial statements.The Company’s management assessed the effectiveness of the Company’s internal control over financial reportingas of December 31, 2007. In making this assessment, the Company’s management used the criteria set forth by theCommittee of Sponsoring Organizations of the Treadway Commission (COSO) in Internal Control-IntegratedFramework. Based on its assessment, management believes that, as of December 31, 2007, the Company’s internalcontrol over financial reporting is effective based on those criteria.The Company’s independent registered public accounting firm has audited management’s assessment of theeffectiveness of the Company’s internal control over financial reporting as of December 31, 2007, as stated in theirreport, appearing on page F-2, which expresses unqualified opinions on management’s assessment and on theeffectiveness of the Company’s internal control over financial reporting as of December 31, 2007.Ameristar Casinos, Inc.Las Vegas, NevadaFebruary 29, 2008/s/ John M. BoushyJohn M. BoushyChief Executive Officer and President/s/ Thomas M. SteinbauerThomas M. SteinbauerSenior Vice President of Finance, Chief FinancialOfficer and TreasurerF-1