Isle of Capri agrees to sell Isle Casino Hotel Biloxi - KPLC 7 News, Lake Charles, Louisiana

Isle of Capri agrees to sell Isle Casino Hotel Biloxi

The following is a Press Release from the Isle of Capri Casinos, Inc.:

Isle of Capri Casinos, Inc. (NASDAQ: ISLE) announced today that it has entered into a definitive purchase agreement with Golden Nugget Biloxi, Inc., a wholly owned subsidiary of Landry's, Inc., to sell its Isle Casino Hotel in Biloxi, Mississippi.

Under the terms of the agreement, Golden Nugget Biloxi, Inc. has agreed to pay Isle of Capri Casinos, Inc. approximately $45 million. The transaction is subject to regulatory approval and other customary closing conditions.

Virginia McDowell, president and chief executive officer of Isle of Capri, commented, "This transaction allows us to monetize an asset at a deleveraging price. We have enjoyed 20 years of owning and operating Isle Casino Hotel Biloxi and we appreciate the hard work and dedication of our team. Moving forward we plan to continue implementation of several initiatives to improve the product offering at our properties including the continued roll out of our exciting Farmers' Pick Buffet, and the rebranding of several of our casinos to the Lady Luck Brand including the recently announced rebrand of our casino in Vicksburg, Miss."

ABOUT ISLE OF CAPRI CASINOS, INC.

Isle of Capri Casinos, Inc. is dedicated to providing its customers with an exceptional gaming and entertainment experience at each of its 15 casino properties. The Company owns and operates casinos in Biloxi, Lula, Natchez and Vicksburg, Mississippi; Lake Charles, Louisiana; Bettendorf, Davenport, Marquette and Waterloo, Iowa; Boonville, Caruthersville and Kansas City, Missouri, two casinos in Black Hawk, Colorado, and a casino and harness track in Pompano Beach, Florida. The Company was chosen to develop a new, Isle-branded gaming facility in Cape Girardeau, Missouri, which is expected to open by Thanksgiving 2012. Additionally, the Company and its partner Nemacolin Woodlands Resort were selected to be awarded a "resort license" for a casino at Nemacolin Woodlands Resort in Pennsylvania. More information is available at the Company's website, www.islecorp.com.

This press release may be deemed to contain forward-looking statements, which are subject to change. These forward-looking statements may be significantly impacted, either positively or negatively by various factors, including without limitation, licensing, and other regulatory approvals, financing sources, development and construction activities, costs and delays, weather, permits, competition and business conditions in the gaming industry. The forward-looking statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from those expressed in or implied by the statements herein.

  • More Local NewsNewsMore>>

  • BREAKING

    Twelve to take test to be next Lake Charles Chief of Police

    Twelve to take test to be next Lake Charles Chief of Police

    Friday, July 20 2018 12:38 PM EDT2018-07-20 16:38:10 GMT
    The City of Lake Charles is currently in the hiring process to replace retiring Chief of Police Don Dixon. Dixon is retiring in January 2019. (Source: Spark)The City of Lake Charles is currently in the hiring process to replace retiring Chief of Police Don Dixon. Dixon is retiring in January 2019. (Source: Spark)
    The City of Lake Charles is currently in the hiring process to replace retiring Chief of Police Don Dixon. Dixon is retiring in January 2019. (Source: Spark)The City of Lake Charles is currently in the hiring process to replace retiring Chief of Police Don Dixon. Dixon is retiring in January 2019. (Source: Spark)

    Twelve people have applied to take the Civil Service test to be the next Chief of Police for the Lake Charles Police Department. Current Chief of Police Don Dixon has announced that he intends to retire Jan. 15, 2019. The deadline to apply to take the test was Wednesday, July 18. The dozen people who applied are made up of several former and current LCPD members and law enforcement from agencies in Louisiana and Texas. KPLC's Theresa Schmidt will be interviewing Mayor Ni...

    More >>

    Twelve people have applied to take the Civil Service test to be the next Chief of Police for the Lake Charles Police Department. Current Chief of Police Don Dixon has announced that he intends to retire Jan. 15, 2019. The deadline to apply to take the test was Wednesday, July 18. The dozen people who applied are made up of several former and current LCPD members and law enforcement from agencies in Louisiana and Texas. KPLC's Theresa Schmidt will be interviewing Mayor Ni...

    More >>
  • St. Jude Dream Home tickets officially SOLD OUT

    St. Jude Dream Home tickets officially SOLD OUT

    Friday, July 20 2018 7:50 AM EDT2018-07-20 11:50:15 GMT

    The tickets are gone!

    More >>

    The tickets are gone!

    More >>
  • FIRST ALERT FORECAST: Heat Advisory

    FIRST ALERT FORECAST: Heat Advisory

    Friday, July 20 2018 4:02 AM EDT2018-07-20 08:02:11 GMT
    Heat advisory for much of Louisiana (Source: KPLC)Heat advisory for much of Louisiana (Source: KPLC)
    Heat advisory for much of Louisiana (Source: KPLC)Heat advisory for much of Louisiana (Source: KPLC)

    A heat advisory has been issued for our area through the day today. This advisory begins at 11 am and lasts until 8 pm tonight. This advisory is due to forecast highs in the mid-90s combined with dewpoints in the 70s. These two-combined causes the heat index to soar between 108 and 112. Through the day today expect hot and mostly sunny conditions. Feels-like temperatures expected to reach between 108-112 this afternoon.

    More >>

    A heat advisory has been issued for our area through the day today. This advisory begins at 11 am and lasts until 8 pm tonight. This advisory is due to forecast highs in the mid-90s combined with dewpoints in the 70s. These two-combined causes the heat index to soar between 108 and 112. Through the day today expect hot and mostly sunny conditions. Feels-like temperatures expected to reach between 108-112 this afternoon.

    More >>
Powered by Frankly