Ameristar Raises Bid in Contest for Aztar
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Casino owner Aztar Corp. said Ameristar Casinos Inc. had raised its offer to buy the company by $2 to $45 a share in cash.
That tops Pinnacle Entertainment Inc.’s revised offer of $43 a share.
Wimar Tahoe Corp., an affiliate of Columbia Sussex Corp., holds the highest bid, at $47 a share. Aztar also received a bid of $41 a share from real estate investment trust Colony Capital.
Phoenix-based Aztar owns a 34-acre plot on the Las Vegas Strip that holds the Tropicana resort. It also owns the Tropicana in Atlantic City, N.J., and casinos in Missouri and Indiana.
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