US-based operator Ameristar Casinos could be put up for sale, the company has revealed.

The publicly-listed company, which operates eight casinos across the US, said it is "evaluating strategic alternatives" to enhance stockholder value - including a possible sale of its assets.

Ameristar’s Transaction Committee of its Board of Directors has drafted in Lazard and Bank of America Merrill Lynch to provide financial advice but noted that the decision to explore new strategies may ultimately not result in any transaction.

Earlier this month, the company reported that its second quarter net revenues fell $15.9m and adjusted EBITDA declined $7.2m, compared with the same period a year ago. As of June 30, the company’s outstanding debt stood at $1.63bn, having repaid $62m under its existing credit facility during the first six months of the year. A further $118.6m is due in November.

"All of our properties performed quite well during the second quarter, with the exception of Ameristar East Chicago," said Gordon Kanofsky, Ameristar’s chief executive officer.  "Although our East Chicago property’s financial results were adversely affected by a nearby bridge closure to a degree much greater than originally anticipated, the rest of our property portfolio produced solid year-over-year results that were consistent with our expectations going into the second quarter.

"As we look into the third quarter, we are optimistic regarding the performance of the properties in our more stable markets, including Kansas City, Council Bluffs and Vicksburg. We anticipate Black Hawk will continue to produce year-over-year growth based on the new hotel and related amenities despite reaching the July anniversary of the regulatory changes."

The board said it would not disclose the details of any developments in strategy unless it feels there is a "material need" to provide the market with an update.