Friday, August 22, 2003
Copyright © Las Vegas Review-Journal

Riverboat owner still fielding offers

Horseshoe Gaming Holdings Chairman Jack Binion, shown here in 1999, on Thursday said he's received inquiries from at least one company interested in buying his three-riverboat operation. Photo by Amy Beth Bennett/REVIEW-JOURNAL FILE PHOTO.

Horseshoe Gaming Holdings Corp. Chairman Jack Binion said Thursday he's received inquiries from at least one company interested in buying his three-riverboat operation.

Sources recently said Las Vegas-based Ameristar Casinos offered $1.39 billion for Horseshoe Gaming Holdings' riverboat casinos in Hammond, Ind.; Bossier City, La.; and Tunica, Miss.

Binion said one potential buyer is still in the due diligence phase of a possible purchase.

"They were looking at our (operations)," he explained. "But there's no deal."

The gaming executive said he has no intention of selling the three properties separately.

"If I sell, I'm going to sell the whole company," Binion said. "People have approached us (about buying the entire company). But we're just in the (preliminary stage)."

Ameristar Chief Executive Officer Craig Neilsen visited all three Horseshoe properties last week, sources said.

"He also visited (Horseshoe's) nearby competitors," one informed source said.

Binion declined to say what companies are interested in his Las Vegas-based Horseshoe Gaming Holdings, which is unrelated to Binion's Horseshoe in downtown Las Vegas.

Binion owns a small slice of the downtown casino he used to run as a way to maintain his Nevada gaming license.

Ameristar spokeswoman Kathy Callahan declined to comment on the company's reported offer for Horseshoe, or on Nielsen's reported visit to Horseshoe properties.

Ameristar shares closed at $22.55 Thursday, up 26 cents or 1.2 percent.