Sale of Casino Aztar Caruthersville Terminated; Aztar and Missouri Gaming Commission Enter Into Supervisory Agreement

PHOENIX, Nov. 3 /PRNewswire-FirstCall/ -- Aztar Corporation today announced that its agreement to sell Casino Aztar Caruthersville to Fortunes Entertainment, LLC has been terminated pursuant to a mutual termination, release and settlement agreement reached by the parties. Aztar today also announced that it and the Missouri Gaming Commission entered into an agreement under which the Commission will appoint a supervisor of Casino Aztar Caruthersville. The appointment will become effective upon the date of closing of Aztar's previously announced merger with Wimar Tahoe Corporation d/b/a Columbia Entertainment, which is presently expected to close in the fourth quarter of 2006. Pursuant to the supervisory agreement, the Commission approved the change in control of Casino Aztar Caruthersville to be effected by the merger.

About Aztar Corporation

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.

Forward-Looking Statements

This press release includes statements that do not directly or exclusively relate to historical facts. Such statements are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, including statements regarding Columbia Entertainment's pending acquisition of Aztar, are based on current expectations of management of Aztar and are subject to risks, uncertainties and changes in circumstances that could significantly affect future results. Accordingly, Aztar cautions that the forward-looking statements contained herein are qualified by important factors that could cause actual results to differ materially from those reflected by such statements. Such factors include, but are not limited to: (a) the risk that Columbia Entertainment may be unable to obtain regulatory approvals required for the transaction with Aztar; (b) the risk that conditions to the closing of the transaction may not be satisfied or the merger agreement with Columbia Entertainment may be terminated prior to closing; and (c) other risks, including those as may be detailed from time to time in Aztar's filings with the Securities and Exchange Commission (the "SEC"). For more information on the potential factors that could affect Aztar's financial results and business, review Aztar's filings with the SEC, including its Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q and its Current Reports on Form 8-K.

Contact: Joe Cole Aztar Corporation 602-381-4111