The 53,000-sf casino generated $325.6 million in gross gamingrevenue in 2006. Ameristar says it plans to double the space, witha new, single-level gaming facility, and to expand on the3,000-space parking garage. The firm says it will also considerchanges to the current food and beverage options, but plans toleave the 291-room hotel, built in 2002, as-is.

"We will start the expansion promptly following the close of theproperty," said John Boushy, CEO and president of Ameristar in aconference call Wednesday, April 4, about the deal. "We expectcompletion in the third year of our ownership, sometime in2010."

He said casino demand is high in northwest Indiana and thesouthern Chicagoland area. "There's a significant potential due toa large population and a limited gaming supply," Boushy said,referring to the eight casinos currently operating in Illinois andIndiana. "The area has the best demographics in the US, there's 6.4million adults in a 50 mile radius. It's a most dynamicmarket."