On Monday, Ameristar Casinos
Neilsen's controlling stake will be transferred to his private foundation, the Craig H. Neilsen Foundation, which is primarily focused on spinal cord injury research and treatment. The successor co-trustees of the foundation are Neilsen's son, Ray Neilsen, and Ameristar Executive Vice President and Co-Chairman of the Board Gordon R. Kanofsky.
Company President John M. Boushy -- who had just joined the company this past August while defecting from rival Harrah's Entertainment
Interestingly, Ameristar's stock is up 20% this morning, to a new all-time high of $30.82. This likely has little to do with Neilsen's position as CEO; Neilsen was named "Best Performing CEO" by the American Gaming Association in 2002, and he was inducted into the American Gaming Association's Gaming Hall of Fame in 2005. This morning's spike is more likely related to the fact that Neilsen held a controlling interest in the company and was determined to grow Ameristar as a stand-alone company, despite Ameristar's value as a buyout candidate.
Neilsen's death would seem to open the door to potential acquirers such as Pinnacle Entertainment
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Ameristar is a Motley Fool Hidden Gems recommendation.