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                                                                    EXHIBIT 99.1

        AMERISTAR CASINOS COMPLETES SALE OF THE RESERVE HOTEL AND CASINO

LAS VEGAS, January 29, 2001 -- Ameristar Casinos, Inc. (NASDAQ: ASCA) announced
today that it has completed the sale of The Reserve Hotel and Casino located in
Henderson, Nevada, a suburb of Las Vegas, to a subsidiary of Station Casinos,
Inc. for an aggregate cash sales price of approximately $71.8 million. Ameristar
acquired the property in 1996 while it was under construction and opened the
facility in February 1998. As part of the transaction, Ameristar has retained
several members of The Reserve's management team at both its corporate office
and at other properties of the company. Ameristar intends to use the net
proceeds from The Reserve's sale to repay indebtedness under its senior credit
facility and for working capital purposes.

This press release contains certain forward-looking statements that generally
can be identified by the context of the statement or the use of words such as
Ameristar or its management "believes," "anticipates," "intends," "expects,"
"plans," or words of similar meaning. Similarly, statements that describe
Ameristar's future plans, objectives, strategies or goals are forward-looking
statements. Attention is directed to "Item 1. Business - Risk Factors" in the
Annual Report on Form 10-K of Ameristar Casinos, Inc. for the fiscal year ended
Dec. 31, 1999 and "Item 2. Management's Discussion and Analysis of Financial
Condition and Results of Operations - Liquidity and Capital Resources" in the
Quarterly Report on Form 10-Q on Ameristar Casinos, Inc. for the fiscal quarter
ended September 30, 2000 for a discussion of some of the factors, risks and
uncertainties that could affect Ameristar's future results.

Ameristar Casinos, Inc. is an innovative, Las Vegas-based 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 corporation owns and operates six properties in Nevada,
Missouri, Iowa and Mississippi, 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.