Craig Neilsen, chief executive officer of Ameristar Casinos Inc., one of the biggest gaming companies in the United States, passed away on Sunday at the age of 65. Neilsen, who is Ameristar's majority shareholder, unexpectedly died in his sleep early in the morning.
His death triggered speculation on whether the company would be sold, which caused its shares to leap to a new height of $31.32. The speculation comes during a time when many talks of merger are happening in the casino industry.
Neilsen took control of the company’s shares in 1971 after the death of his father, Ray, who was a partner at Cactus Petes Inc. after the corporation's ownership was restructured. In 1993 Ameristar Casinos, Inc., went public on NASDAQ and became the parent company of Cactus Pete's.
Today Ameristar operates seven casinos in Missouri, Iowa, Colorado, Nevada and Mississippi. Analysts said Ameristar's casinos, located in five states, could be attractive as part of a larger casino group.
Neilsen was Ameristar's largest shareholder, with 55 percent of the company's shares. In his will he stated that he his shares will be transferred to the Craig H. Nielsen Foundation, which donates to spinal-cord research and treatment.
Email this page
Print this page
Bookmark with del.icio.us
