Indiana Gaming Commission Approves Columbia's Aztar Acquisition
FT. MITCHELL, KY, November 13, 2006. Columbia Entertainment announced today that the Indiana Gaming Commission has approved its acquisition of Aztar Corp. (NYSE:AZR), paving the way for Columbia to assume ownership and operating control of Casino Aztar in Evansville when the transaction closes.
Columbia Entertainment owner and CEO William J. Yung said that the Commission's 4-1 vote in favor of approval was gratifying. "We appreciate the effort the Commission and the staff put forth to move the process forward in a timely manner," he said, "and we are eager to demonstrate that their confidence in us is well-placed."
During their appearance before the Commission yesterday, Columbia corporate executives, including Yung, CFO Richard M. FitzPatrick and General Counsel Donna B. More, were joined by Evansville Mayor Jonathan Weinzapfel and Casino Aztar President and General Manager Jim Brown.
"Mayor Weinzapfel has been open and candid, and we are grateful for his support," Yung asserted. "We have assured him that we are committed to continuing the tradition of corporate citizenship that Casino Aztar has established in the Evansville area."
Yung told the Commission that Brown, who has managed Casino Aztar since it opened in 1995, would continue as the Evansville casino's general manager after the acquisition. "We're delighted that Jim will continue as GM at the Evansville property and we expect to take advantage of his experience by expanding his role in Columbia's corporate community relations programs."
With the Indiana Commission's action yesterday, Columbia awaits two rulings before it can close on its purchase of Aztar. The Nevada Gaming Commission meets on November 16 to vote on a recommendation from the state's Gaming Control Board to approve the acquisition; and on November 21 the Louisiana Gaming Control Board is expected to review the acquisition financing package.
About Columbia Entertainment
Columbia Entertainment is the gaming affiliate of Columbia Sussex Corporation, one of the largest privately held owners, developers and operators of hotel properties and casinos in the world. Columbia Sussex is the largest licensee of full-service Marriott Hotels in the U.S., and the Company and its affiliates own a total of 81 hotels and 8 casinos with approximately 27,000 rooms, including Marriott, Hilton, Westin, Sheraton, Renaissance and Doubletree branded properties across the United States, Canada and the Caribbean. Founded in 1972, the Company is led by William J. Yung III and owned by Mr. Yung and the Yung family. Columbia Sussex Corporation and Columbia Entertainment are headquartered in Fort Mitchell, Kentucky and have more than 18,000 employees worldwide.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
