Press Release: Aztar Corporation
December 12, 2001
PHOENIX, AZ -- Aztar Corporation (NYSE: AZR) announced yesterday that its consent solicitation that commenced on
November 27, 2001 and was scheduled to expire at 5:00 p.m., New York City time, on December 11, 2001, has been
extended to expire on December 20, 2001, in order to allow sufficient time for holders to respond to the solicitation.
The company is soliciting consents from the holders of its 8-7/8% Senior Subordinated Notes due 2007 (CUSIP No.
054802AD5) to amend the Notes' Indenture to increase the amount of the so-called ``restricted payments basket''
from $30 million to $75 million, as described in a consent solicitation statement sent by the company to all holders
of the Notes as of November 26, 2001, the record date for the solicitation. The amendment of this basket is the
only amendment proposed by the company and would conform the restricted payment amount to the corresponding amount
in the Indenture governing the Company's 9% Senior Subordinated Notes due 2011. The proposed amendment requires
the consent of the holders of more than 50% of the aggregate principal amount of the Notes. Since the requisite
consents had not been received from a limited number of holders as of the originally scheduled expiration date,
the deadline for responding to the offer has been extended. Upon the successful completion of the solicitation,
a fee of $2.50 for each $1,000 principal amount of Notes will be paid to the holders who validly delivered a consent
prior to 5:00 p.m., New York City time, on December 20, 2001, the expiration time. A consent may be revoked by
a holder of the Notes at any time prior to the expiration time by delivering a written notice of revocation in
accordance with the procedures set forth in the consent solicitation statement. The company is not obligated, and
does not intend, to accept consents from any holders after the expiration time. Additional terms of the consent
solicitation are set forth in the consent solicitation statement.
MacKenzie Partners will act as information and tabulation agent. Requests for assistance in filling out and delivering
any consents or for additional documentation should be directed to MacKenzie Partners at 156 Fifth Avenue, New
York, NY 10010 or by telephone at (212) 929-5500 (call collect) or (800) 322-2885 (toll free).
Aztar is a publicly traded company that operates Tropicana Casino and Resort in Atlantic City, New Jersey, Tropicana
Resort and Casino in Las Vegas, Nevada, Ramada Express Hotel and Casino in Laughlin, Nevada, Casino Aztar in Caruthersville,
Missouri, and Casino Aztar in Evansville, Indiana.
For more information contract: Joe Cole, Vice President, Corporate Communications, +1-602-381-4111.
SOURCE: Aztar Corporation