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St. Louis Business & Technology News
www.slfp.com/SLFPBIZp.htm "When you think Saint Louis, think Saint Louis Front Page," a weekly publication covering the news and events in the greater St. Louis area. 
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 ST. CHARLES, MO - Established in 1994 as the first gaming facility in Missouri, Ameristar Casino St. Charles will unveil its all-new $360 million, gaming and entertainment destination Aug. 6, 2002 replacing its original riverboat casino. SLFP.com File photo $340 Million Ameristar Casino St. Charles Will Bring New Jobs, Las Vegas-Style Entertainment and Economic Boom to the St. Louis Region ST. CHARLES, (PRNewswire), August 4, 2002 - Bringing more than 800 new jobs and a windfall of commerce and tourism to the region, the all-new, $360-million Ameristar Casino St. Charles will infuse the entire St. Louis metropolitan area and the state of Missouri with significant economic benefits. In addition to the facility's seven cutting-edge restaurants and live entertainment venues, guests will have an opportunity to experience a completely new 130,000-square- foot casino. Providing more than 3,300 state-of-the-art slot and video poker machines, 95 table games, including a 12-table live poker area, and a VIP players lounge near the high-limit slots, the casino will be the largest in the market and the newest in Missouri. According to industry sources, casinos have increased wages throughout the entertainment industry in towns with gaming. The average wage for a casino service position is $26,000, plus benefits. A Wall Street Journal article noted that casinos have even triggered the spread of health care insurance to other industries such as day-care and fast food. Ameristar St. Charles will also generate significant tax dollars for the City of St. Charles and the state of Missouri. According to the Missouri Riverboat Gaming Association, St. Charles received $9.2 million from the casino in fiscal year 2002. Records show that $6.1 million came from admissions fees and $3.1 million was generated from gaming taxes. Tax revenues generated from gaming revenues and admissions are the fifth largest source of tax dollars for the state of Missouri. Only individual income taxes, sales taxes (including the Proposition C sales tax), gasoline tax, and corporate income taxes rank higher. The state of Missouri receives $1 per admission and 18 percent of adjusted gross revenue from gaming operators. In fiscal year 2002, Missouri gaming tax and admission tax totaled $267 million. Missouri dedicates the 18 percent tax on AGR to the School Foundation Formula. During the last eight years, riverboat gaming has generated a total of approximately $1.2 billion for the School Foundation Formula. Of the $48 million in admission taxes received by the state in 2002, $3 million was used to fund veterans programs, $3 million paid for National Guard scholarships, $31 million supported the Early Childhood Education Fund and $4.5 million funded the Missouri College Guarantee Program. Overall, riverboat gaming has generated nearly $1.4 billion for the state of Missouri over the last eight years. In addition, host cities, such as St. Charles, also receive $1 per admission, equaling $48 million, plus two percent of the AGR or approximately $24 million, for a total of $72 million during the same time period. At the end of this eight-year cycle, the total gaming and admission taxes for host cities equaled $421 million. In a statement, Ameristar St. Charles General Manager Tony Raymon, explained, "Riverboats also pay sales, property and income taxes. Unlike most other start-up businesses, riverboats are denied property tax abatement. In several areas they represent the largest source of property tax within a community." Missouri riverboats also reimburse the state for the full cost of the highway patrolmen who are assigned to the regulatory agency. These reimbursements total approximately $7 million per year. In addition to these contributions, Ameristar St. Charles currently has an annual purchasing expenditure of nearly $38 million, and works with approximately 800 vendors and suppliers. Following the introduction of the new facility, Mike Gorczynski, vice president of finance for Ameristar St. Charles, estimates there will be significant increases in both the number of Missouri-based organizations with whom the company does business and the total dollars spent. Ameristar Chairman, President and CEO Craig H. Neilsen said, "Through the extension of Ameristar's high standards and distinctive approach, we have created a premier gaming and entertainment facility which complements the strong heritage of St. Charles," he said. "This property further extends our brand in one of the most dynamic gaming markets in the country and strengthens Ameristar's ability to serve local St. Louis residents and Midwestern tourists with a vast array of amenities that provide the excitement, entertainment options and quality for which our organization is known." Ameristar acquired the partially completed St. Charles property in 2000 and immediately pledged to complete the permanent facility initiated by the original owner. "We are pleased to say that not only did we fulfill that promise to the community, we have exceeded it both in the scope and amenity base provided to guests of the new Ameristar St. Charles," said Neilsen. "When Ameristar purchased the property, they promised a first-class facility," stated St. Charles City Mayor Patti York. "They have certainly followed through on their commitment. The project, one of the largest in the greater metropolitan area, is so much bigger and better than we originally anticipated. It says a great deal about Ameristar." In addition to the monetary investment, York said she is "thrilled" with the substantial increase in employment opportunities provided by Ameristar St. Charles. The property will be supported by 1,800 team members, which officially makes the company the largest employer in St. Charles. Nancy Stuenkel, executive director of the St. Charles Chamber of Commerce said, "The 800-plus jobs created by the project offer new opportunities for workers in St. Charles and the region. The potential multiplier of new dollars plus added taxes coming into our community offer our residents continued opportunities for economic growth and development."  See related story on St. Charles News: Ameristar Casino St. Charles Brings Las Vegas-Style Entertainment to St. Louis Archived story: Ameristar Rolls Out New Master Plan Archived story: Station Casino St. Charles Sold Return to St. Louis Front Page 
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