Indiana Gaming Commission Approves Columbia Entertainment's Aztar Acquisition

  
    
  
  
    
      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.
    
  
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.