CONTACT:

           Tom Steinbauer
           Senior Vice President of Finance, Chief Financial Officer
           Ameristar Casinos, Inc.
           (702) 567-7000

                        AMERISTAR CASINOS, INC. ANNOUNCES
                    AMENDMENT OF ITS SENIOR CREDIT FACILITIES

      LAS VEGAS, NEV., JUNE 17, 2002--Ameristar Casinos, Inc. (Nasdaq-NMS: ASCA)
today announced that it has amended the credit agreement governing its $374.5
million senior credit facilities to significantly reduce its borrowing costs and
to improve its flexibility through the relaxation of a number of covenants
included in the agreement.

      The primary elements of the amendment include:

           -    a reduction in the applicable interest rate margin on all loans;

           -    the consolidation of the term loan C into the term loan B;

           -    a further reduction in the applicable interest rate margin for
                the term loan B upon an improvement in the Company's credit
                rating, or if the Company's leverage ratio falls below 3.50:1;

           -    increased flexibility for capital expenditures generally,
                including an increase in the basket applicable to the new St.
                Charles facility to accommodate the expanded scope of that
                project;

           -    the extension and expansion of the "greenshoe" for additional
                credit commitments; and

           -    significant increases in various covenant allowances.

      "This amendment signifies the market's recognition of our strong
performance and the substantial steps we have taken to improve our liquidity and
balance sheet," said Thomas M. Steinbauer, the Company's Senior Vice President
and Chief Financial Officer. "We have successfully executed on our commitment to
reduce the Company's debt levels, even as we complete substantial capital
improvement projects that will help grow the Company's earnings in future
periods."



      The Company paid an amendment fee of 25 basis points, or $0.9 million, in
connection with the amendment. Based on the expected net savings of
approximately $2 million annually as a result of the amendment, the Company
should recoup the amendment fee in approximately six months.

      This press release contains certain forward-looking information that
generally can be identified by the context of the statement or the use of
forward-looking terminology, such as "believes," "estimates," "anticipates,"
"intends," "expects," "plans," "is confident that" or words of similar meaning,
with reference to Ameristar or its management. Similarly, statements that
describe Ameristar's future plans, objectives, strategies, financial position,
operational expectations or goals are forward-looking statements. It is possible
that the Company's expectations may not be met due to various factors, many of
which are beyond the control of the Company, and the Company therefore cannot
give any assurance that such expectations will prove to be correct. For a
discussion of some of the factors, risks and uncertainties that could materially
affect Ameristar's future results, attention is directed to "Item 1. Business -
Risk Factors" and "Item 7. Management's Discussion and Analysis of Financial
Condition and Results of Operations - Liquidity and Capital Resources" in the
Company's Annual Report on Form 10-K for the year ended December 31, 2001 and
"Item 2. Management's Discussion and Analysis of Financial Condition and Results
of Operations - Liquidity and Capital Resources" in the Company's Quarterly
Report on Form 10-Q for the quarter ended March 31, 2002.

        Ameristar Casinos, Inc. is an innovative, Las Vegas-based gaming and
entertainment company known for its distinctive, quality conscious hotel-casinos
and value orientation. Led by President and Chief Executive Officer Craig H.
Neilsen, the organization's roots go back nearly five decades to a tiny roadside
casino in the high



plateau country that borders Idaho and Nevada. Publicly held since November
1993, the Company owns and operates six properties in Missouri, Iowa,
Mississippi and Nevada, two of which carry the prestigious American Automobile
Association's Four Diamond designation. Ameristar's Common Stock is traded on
the Nasdaq National Market System under the symbol: ASCA.

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 Visit Ameristar Casinos' Web site at www.ameristarcasinos.com (which shall not
        be deemed to be incorporated in or a part of this news release).