Nemacolin Woodlands Intends to Apply for PA Casino License; Isle of Capri Casinos to Manage New Facility
January 07 2010 - 1:08PM
PR Newswire (US)
FARMINGTON, Pa., Jan. 7 /PRNewswire/ -- Nemacolin Woodlands Resort
located in Farmington, Fayette County, Pennsylvania today announced
it intends to file an application with the Pennsylvania Gaming
Control Board for a resort gaming license. Additionally, Nemacolin
Woodlands announced that it has reached a casino management and
marketing agreement with Isle of Capri Casinos, Inc. (NASDAQ:ISLE),
one of the country's most respected gaming operators, to manage the
casino. Nemacolin Woodlands indicated that it intends to formally
apply to the Pennsylvania Gaming Control Board for the remaining
Category 3 resort gaming license, as authorized under the 2004
Gaming Act, in the immediate future. Legislation signed into law
today by Pennsylvania Governor Rendell made certain changes to the
Gaming Act governing the state's resort casinos. Nemacolin
Woodlands President and Owner Maggie Hardy Magerko noted that
significant changes made to the parameters of the resort casino
license over the past three years; including reduction of the
patron amenity expenditure requirement from twenty-five to ten
dollars, the addition of more slot machines and the expansion into
table games make operating a casino at Nemacolin Woodlands a very
attractive opportunity. "Add to this the management and marketing
expertise of Isle of Capri, one of the most recognizable and
experienced names in the gaming industry, and we believe we have
the best venue in terms of resort amenities and management to
effectively and profitably operate a casino," said Hardy Magerko.
The casino would be housed at the resort's Wild Side entertainment
complex located at the corner of Route 40 and Smith School Road.
The facility formerly was the Woodlands World outdoor store which
relocated to downtown Uniontown four years ago. "We believe
Nemacolin Woodlands Resort with our vast array of amenities ranging
from the Woodlands Spa, to Mystic Rock Golf Course, to sporting
clays, off road course, skiing, fine dining and many other
activities offers the premiere resort venue in the state and with
the expertise of Isle of Capri will result in a casino that offers
a unique experience for our patrons and maximizes the economic
benefits for the state," said Hardy Magerko. Isle of Capri Casinos
President and Chief Operating Officer Virginia McDowell noted,
"Since we first began our discussions with Nemacolin Woodlands and
visited the facility, our team has been convinced that this is the
right opportunity in the perfect location to build a resort casino
in Pennsylvania. Nemacolin Woodlands is Pennsylvania's premier
resort destination, and the plans we are building together will
situate the property to produce maximum benefits for the state and
the community." Nemacolin Woodlands Resort is one of North
America's premier resort destinations earning a Forbes Travel Guide
(formerly Mobil Travel Guide) Four-Star rating and a AAA Four
Diamond Rating. Nemacolin Woodlands has also been honored as one of
Travel + Leisure magazine's 500 Best Hotels in the World. Situated
on over 3,000 acres, the resort features 335 luxurious guestrooms,
suites, townhouses, and private luxury homes, including the AAA
Five Diamond Falling Rock boutique hotel and clubhouse. In addition
to the internationally acclaimed Woodlands Spa, the resort features
the AAA Five Diamond and Forbes Travel Guide Five Star Lautrec
Restaurant and offers 36 holes of golf on two championship courses
-- the Pete Dye designed Mystic Rock and the traditional Links
Course. For additional information, visit our websites at
http://www.nemacolin.com/ http://www.falling-rock.com/ or call
724-329-8555. Isle of Capri Casinos, Inc creates value for
customers, clients, shareholders and employees by providing
regional gaming and leisure experiences matched to customer
preferences, focused on operational effectiveness and organic
growth for the company's properties. With solid regional
diversification across the U.S., Isle of Capri has a seasoned
management team who believes in strategic business plan to increase
value through strong fiscal discipline and targeted operating
strategies. The Company owns and operates 14 casino properties in
six states. Collectively, these properties boast over 15,000 slot
machines and nearly 400 table games, over 3,100 hotel rooms and
more than three dozen restaurants. The company's properties are in
Biloxi, Lula and Natchez, 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. One of the largest publicly-traded gaming companies in the
United States, Isle of Capri is traded on the NASDAQ stock exchange
under ticker symbol ISLE. More information is available at the
Company's website, http://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. Additional information concerning potential factors that
could affect the Company's financial condition, results of
operations and expansion projects, is included in the filings of
the Company with the Securities and Exchange Commission, including,
but not limited to, its Form 10-K for the most recently ended
fiscal year. DATASOURCE: Nemacolin Woodlands Resort CONTACT: For
Nemacolin Woodlands Resort, Jeff Noberts, VP Marketing & Public
Relations, +1-724-228-8820, ext. 1585, ; or For Isle of Capri
Casinos, Inc., Dale Black, Chief Financial Officer,
+1-314-813-9327, ; or Jill Haynes, Sr. Director Corporate
Communication, +1-314-813-9368, Web Site: http://www.nemacolin.com/
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