AMERISTAR CASINOS, INC.CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY(Amounts in Thousands)Capital StockAdditionalNumber Paid-In Treasury Retainedof Shares Amount Capital Stock Earnings TotalBalance, December 31, 2004................. 54,882 $ 549 $ 166,450 $ — $ 154,301 $ 321,300Net income............................................. — — — — 66,285 66,285Exercise of stock options....................... 1,076 11 7,114 — — 7,125Tax benefit of stock option exercises .... — — 6,425 — — 6,425Dividends............................................... — — — — (17,425) (17,425)Balance, December 31, 2005................. 55,958 560 179,989 — 203,161 383,710Net income............................................. — — — — 59,565 59,565Exercise of stock options and issuanceof restricted shares............................... 978 9 7,885 — — 7,894Tax benefit of stock option exercises .... — — 4,266 — — 4,266Dividends............................................... — — — — (21,068) (21,068)Stock-based compensation expense....... — — 7,811 — — 7,811Common stock repurchases ................... (411) — — (8,014) — (8,014)Balance, December 31, 2006................. 56,525 569 199,951 (8,014) 241,658 434,164Net income............................................. — — — — 69,433 69,433Exercise of stock options and issuanceof restricted shares............................... 1,010 10 17,452 — — 17,462Tax benefit of stock option exercises .... — — 5,587 — — 5,587Cumulative effect of change inaccounting principle — adoption ofFIN 48.................................................. — — — — (2,464) (2,464)Dividends............................................... — — — — (23,389) (23,389)Stock-based compensation expense....... — — 11,993 — — 11,993Common stock repurchases ................... (376) — — (9,660) — (9,660)Balance, December 31, <strong>2007</strong>................. 57,159 $ 579 $ 234,983 $ (17,674) $ 285,238 $ 503,126The accompanying notes are an integral part of these consolidated financial statements.F-6
AMERISTAR CASINOS, INC.CONSOLIDATED STATEMENTS OF CASH FLOWS(Amounts in Thousands)Years ended December 31,<strong>2007</strong> 2006 2005Cash Flows from Operating Activities:Net income............................................................................................... $ 69,433 $ 59,565 $ 66,285Adjustments to reconcile net income to net cash provided by operatingactivities:Depreciation and amortization ............................................................. 94,810 93,889 85,366Amortization of debt issuance costs and debt discounts...................... 1,503 990 3,891Stock-based compensation expense..................................................... 11,993 7,811 —Loss on early retirement of debt........................................................... — 26,264 2,074Net change in deferred compensation liability..................................... (773) 71 633Impairment loss on assets .................................................................... 4,758 931 869Net loss (gain) on disposition of assets................................................ 1,408 (683) 1,576Net change in deferred income taxes ................................................... 13,618 1,702 16,424Excess tax benefit from stock option exercises.................................... (5,587) (4,266) 6,425Changes in operating assets and liabilities:Restricted cash ................................................................................. — 49 (1,988)Accounts receivable, net.................................................................. 3,638 (2,083) 1,212<strong>Inc</strong>ome tax refunds receivable ......................................................... (11,375) (2,164) —Inventories ....................................................................................... 54 (315) 1Prepaid expenses.............................................................................. 398 (2,505) (420)Assets held for sale .......................................................................... — — 596Accounts payable............................................................................. 5,633 1,816 (277)<strong>Inc</strong>ome taxes payable....................................................................... — 893 1,806Accrued liabilities............................................................................ 13,235 (12,427) 12,986Net cash provided by operating activities.................................................... 202,746 169,538 197,459Cash Flows from Investing Activities:Net cash paid for Resorts East Chicago acquisition................................. (671,420) — —Capital expenditures ................................................................................ (277,312) (249,123) (177,789)<strong>Inc</strong>rease in construction contracts payable............................................... 5,582 16,157 4,437Proceeds from sale of assets .................................................................... 338 1,368 896<strong>Inc</strong>rease in deposits and other non-current assets .................................... (11,475) (6,083) (3,393)Net cash used in investing activities............................................................ (954,287) (237,681) (175,849)Cash Flows from Financing Activities:Debt borrowings ...................................................................................... 782,000 485,000 410,000Principal payments of debt ...................................................................... (19,384) (384,346) (396,554)Premium on early redemption of senior subordinated notes.................... — (20,425) —Cash dividends paid................................................................................. (23,389) (21,068) (17,425)Proceeds from stock option exercises ...................................................... 17,448 7,878 7,125Purchases of treasury stock...................................................................... (9,660) (8,014) —Excess tax benefit from stock option exercises........................................ 5,587 4,266 —Debt issuance costs .................................................................................. (3,703) (153) (5,134)Net cash provided by (used in) financing activities..................................... 748,899 63,138 (1,988)Net (Decrease) <strong>Inc</strong>rease in Cash and Cash Equivalents......................... (2,642) (5,005) 19,622Cash and Cash Equivalents - Beginning of Year ................................ 101,140 106,145 86,523Cash and Cash Equivalents - End of Year .......................................... $ 98,498 $ 101,140 $ 106,145Supplemental Cash Flow Disclosures:Cash paid for interest, net of amounts capitalized ................................... $ 52,313 $ 65,675 $ 54,015Cash paid for federal and state income taxes (net of refunds received)... $ 45,572 $ 38,294 $ 14,993Non-cash Investing and Financing Activities:Acquisition of Resorts East ChicagoFair value of non-cash assets acquired............................................. $ 681,820 $ — $ —Less net cash paid ............................................................................ (671,420) — —Liabilities assumed........................................................................... $ 10,400 $ — $ —The accompanying notes are an integral part of these consolidated financial statements.F-7
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Dear Fellow Shareholders,I am pleas
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Ameristar Black Hawk, which reporte
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UNITED STATES SECURITIES AND EXCHAN
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Unless the context indicates otherw
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Ameristar St. Charles. Ameristar St
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Ameristar Vicksburg. Ameristar Vick
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Kansas CityAmeristar Kansas City co
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Should additional gaming developmen
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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
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- 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
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- 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
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- Page 85 and 86: Years ended December 31,2007 2006 2
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