ST. LOUIS, Feb. 9, 2012
/PRNewswire/ -- Isle of Capri Casinos, Inc. (the "Company")
(NASDAQ: ISLE) announced today that it has completed the sale of
Grand Palais Riverboat, Inc. including the smaller of the Company's
two riverboats in Lake Charles to
Bossier Casino Venture LLC for $15
million. Concurrent with the sale the Company has
consolidated its operations onto the remaining larger riverboat and
will operate with 1,262 slot machines, 40 table games and eight
poker tables.
Virginia McDowell, the Company's
president and chief executive officer commented, "We are pleased to
finalize the sale of our second gaming facility located in
Lake Charles and consolidate our
operations onto our remaining larger riverboat. The sale
allows us to run a more efficient operation and in combination with
recent renovations to the casino including new decor, as well as
renovated bathrooms, significantly enhance our guest experience in
Lake Charles. We expect to begin
room renovations in the Lake
Charles hotel tower in the coming months."
About Isle of Capri Casinos, Inc.
Isle of Capri Casinos, Inc., founded in 1992, 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 and its partner, Nemacolin Woodlands
Resort, were selected to be awarded a "resort license" for a casino
at Nemacolin Woodlands Resort in Pennsylvania. Additionally, the Company was
chosen to develop a new, Isle-branded gaming facility in
Cape Girardeau, Missouri, which is
expected to open in late 2012. More information is available at the
Company's website, www.islecorp.com.
Forward-Looking Statements
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. The risks and uncertainties include, but are not limited
to, competition in the casino/hotel and resorts industries, the
Company's dependence on existing management, levels of travel,
leisure and casino spending, general domestic or international
economic conditions, and changes in gaming laws or regulations.
Additional information concerning potential factors that could
affect the Company's financial results is included in the Company's
Annual Report on Form 10-K/A for the fiscal year ended April 24, 2011 and the Company's other periodic
reports filed with the Securities and Exchange Commission. The
Company is not under any obligation to (and expressly disclaims any
such obligation to) update their forward-looking statements as a
result of new information, future events or otherwise.
CONTACTS:
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Isle of
Capri Casinos, Inc.,
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Dale
Black, Chief Financial Officer-314.813.9327
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Jill
Alexander, Senior Director, Corporate
Communication-314.813.9368
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SOURCE Isle of Capri Casinos, Inc.