Thursday, March 27, 1997 | 11:59 a.m.
Ameristar Casinos says despite rumors that its president, Craig Neilsen, is seriously ill, he has informed the company that "his medical advisers do not consider his problems to be life-threatening."
Ameristar, which is building the African safari-themed Reserve hotel-casino in Henderson and operates two Northern Nevada casinos, issued the statement this week amid speculation that Neilsen's health problems would result in the company being put up for sale.
"He (Neilsen) has no present intention of selling any of his shares of the company's stock," Ameristar said in a one-page news release dated Tuesday.
"Mr. Neilsen owns or controls 87 percent of the outstanding common stock of the company. Mr. Neilsen remains actively involved in the day-to-day management of the company."
In addition to being president and principal stockholder, Neilsen also serves as executive officer for the Las Vegas-based publicly traded company which is listed on Nasdaq with the trading symbol ASCA.
Ameristar, which owns resorts in two other states, declined to comment further on Neilsen's health. The company did not disclose the nature of his illness.
Ameristar entered the Southern Nevada market last April when it signed a letter of intent to merge with Gem Gaming Co., which at the time was building the Reserve hotel-casino on 55 acres at the southeast corner of U.S. 95 and Lake Mead Drive.
The resort will resemble a big-game hunting reserve, complete with a grand palace, an old world fortress built with hand-carved rock from surrounding mountains and statues of elephants and other jungle animals.
"This is a major milestone for the shareholders of Ameristar and Gem," Neilsen said at the time of the merger. "(It) will enhance shareholder value and allow Ameristar to continue its constant, steady growth by expanding into the largest gaming market in the country."
Two months later, the company announced plans for a 50,000-square-foot expansion, including the addition of a 500-seat buffet, sports bar and other public and warehouse space.
The Reserve, scheduled to open in October, initially will feature 225 rooms, 1,000 slot machines and 35 gaming tables. Included in the expansion plans are another 250 rooms.
Eventually, the resort will feature 1,500 rooms, 2,000 slot machines, 75 gaming tables, restaurants, meeting and convention rooms and recreational amenities, Neilsen said at the time of the merger.
Ameristar, which has a gaming background dating back to 1954, owns Cactus Pete's and the Horseshu in Jackpot, Ameristar Casino in Vicksburg, Miss., and Ameristar Casino Council Bluffs in Iowa.
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