Yesterday’s market rumors that Ameristar Casinos was being put up for sale has been confirmed.
The regional casino operator said in a press release that the company’s Board of Directors have formed a Transaction Committee to “evaluate strategic alternatives to enhance stockholder value” that could include a potential sale of some or all of the company’s assets.
Also confirmed was that investment firm Lazard Bank and Bank of America Merrill Lynch were hired as financial advisors. Gibson, Dunn & Crutcher LLP will serve the board as legal advisors as they evaluate the potential opportunities presented.
Ameristar also said that they will not disclose the findings of the evaluation unless a transaction occurs that would affect the market and that this is strictly an exploration of opportunities and that there is no guarantee that a transaction of any kind will occur.
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