Following Ameristar Casinos posting a second quarter loss of $25.9 million, rumors have begun to surface that the regional casino operator maybe looking to sell off some of its assets.
Reuters and The New York Post have reported that an unnamed source close to the situation has said that Ameristar has hired investment banker Lazard to look into potential sale opportunities.
The source said that the firm has already begun contacting potential bidders and that the sale process would officially begin this fall. However a spokesperson for Ameristar only said that the company does not comment on market rumors.
The idea of a potential sale, has gaming analyst concerned that financial conditions have not improved enough to result in a wholesale buyout that should be valued at more than $2.5 billion with some noting that Ameristar Casinos is an economically viable company and that the only take over’s being seen these days are those of distressed companies.
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