Idaho Casino Firm Joins Vegas Project

Ameristar Casinos Inc. on Tuesday announced it has finalized an agreement to merge with privately held Gem Gaming Inc., which is developing The Reserve Hotel & Casino near Las Vegas.

Craig Neilsen, president and chief executive officer of Ameristar, said the Twin Falls-based company would exchange 7.5 million shares of common stock for The Reserve.

Neilsen said the resort will be the first major hotel-casino to open in the Henderson-Green Valley, Nev., area, southeast of Las Vegas. The first phase is scheduled to open late this year.

Ameristar owns and operates Cactus Petes Resort Casino and The Horseshu Hotel & Casino in Jackpot, Nev., and riverboat casinos in Vicksburg, Miss., and Council Bluffs, Iowa.