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updated 11:16, Tue November 06, 2007

Ameristar Casinos Cuts Full-Year Profit Forecast to Include Costs for 2 Casino Hotels

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LAS VEGAS (AP) -- Ameristar Casinos Inc. lowered its earnings forecast for the year to include costs for two casino hotels.

The company now expects yearly earnings of $1.19 to $1.22 per share, down from its prior forecast of $1.25 to $1.29 per share.

The new outlook includes a loss of 6 cents to 7 cents per share related to the company's acquisition of the Resorts East Chicago casino hotel on Sept. 18, 4 cents in pre-opening costs for a new hotel in St. Charles, Mo., and 13 cents in stock-based compensation costs.

Analysts polled by Thomson Financial are expecting profit of $1.37 per share, on average. Wall Street estimates typically exclude charges.

For the fourth quarter, Ameristar expects to earn 14 cents to 17 cents per share, including charges. Analysts expect earnings of 27 cents per share, according to Thomson.

Ameristar shares fell 32 cents to $30.19 in after-hours trading.

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