Isle Of Capri Casinos, Inc. Announces Expiration of Consent Date
March 03 2004 - 5:31PM
PR Newswire (US)
Isle Of Capri Casinos, Inc. Announces Expiration of Consent Date
BILOXI, Miss., March 3 /PRNewswire-FirstCall/ -- Isle of Capri
Casinos, Inc. announced today that pursuant to the terms of its
previously announced offer to purchase and consent solicitation for
any and all of its $390.0 million outstanding principal amount of
its 8 3/4% Senior Subordinated Notes due 2009 (the "Notes"), it has
received valid tenders and consents representing greater than a
majority in principal amount of the Notes outstanding as of the
expiration of the consent deadline at 5:00 p.m., New York City
time, on March 2, 2004 (the "Consent Date"). Accordingly, the
supplemental indenture relating to the Notes will be promptly
executed by Isle of Capri and the trustee under the indenture. As
of the Consent Date, approximately $328.2 million in aggregate
principal amount, or approximately 84.2% of the outstanding Notes,
have been validly tendered and accepted by the Company. A portion
of the proceeds from the Company's previously announced sale of
$500,000,000 principal amount of 7% Senior Subordinated Notes due
2014, which was completed today, were used to fund the
consideration in respect of the tendered Notes. The Offer to
Purchase is scheduled to expire at 5:00p.m., New York City time, on
March 16, 2004, although the related Consent Solicitation expired
on the Consent Date. The terms of the offer to purchase, including
the conditions to Isle of Capri Casinos, Inc.'s obligations to
accept the Notes tendered and pay the purchase price, are set forth
in Isle of Capri Casinos, Inc.'s Offer to Purchase and Consent
Solicitation Statement, dated February 18, 2004. Deutsche Bank
Securities Inc. and CIBC World Markets Corp. are the Dealer
Managers for the Offer to Purchase. Questions or requests for
assistance may be directed to Deutsche Bank Securities Inc.
(telephone: (212) 250-4270 (collect)) or CIBC World Markets Corp.
(telephone: (800) 274-2746). Requests for documentation may be
directed to D. F. King & Co., Inc., the Information Agent
(telephone: (800) 669-5550). This press release does not constitute
an offer or solicitation to purchase or a solicitation of consents
with respect to the Notes. That offer or solicitation will be made
only by means of the Offer to Purchase and Consent Solicitation
Statement. This press release does not constitute an offer to sell
or the solicitation of an offer to buy any security. Isle of Capri
Casinos, Inc. owns and operates 17 riverboat, dockside and
land-based casinos at 15 locations, including Biloxi, Vicksburg,
Lula and Natchez, Mississippi; Bossier City and Lake Charles (two
riverboats), Louisiana; Black Hawk (two land-based casinos) and
Cripple Creek, Colorado; Bettendorf, Davenport and Marquette,
Iowa;Kansas City and Boonville, Missouri; Freeport, Grand Bahama
Island; and Dudley, England, UK. The company also operates Pompano
Park Harness Racing Track in Pompano Beach, Florida. As a publicly
held company, we regularly file reports with the Securities and
Exchange Commission (the "SEC"). These reports are required by the
Securities Exchange Act of 1934 and include: -- Annual Reports on
Form 10-K; -- Quarterly Reports on Form 10-Q; -- Current Reports on
Form 8-K; and -- All amendments to those reports. Our Internet
website is http://www.islecorp.com/. We make our filings available
free of charge on our Internet website as soon as reasonably
practical after we electronically file or furnish such reports to
the SEC. You may read and copy the reports, statements and other
information we file with the SEC at the SEC's public reference room
at 450 Fifth Street, N.W., Washington D.C. 20546. You can request
copies of these documents by writing to the SEC but must pay
photocopying fees. Please call the SEC at 1- 800-SEC-0330 for
further information on the operation of the public reference rooms.
Our SEC filings are also available to the public on the SEC's
Internet site (http://www.sec.gov/). Contact: Allan B. Solomon,
Executive Vice President, 561-995-6660 Rex Yeisley, Chief Financial
Officer, 228-396-7052 Lori Hutzler, Director of Corporate
Communications, 228-396-7031 This press release contains
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,
permits, weather, 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 10-K for the fiscal year ended April 27,
2003 and 10-Q for the fiscal quarters ended since that date.
http://www.newscom.com/cgi-bin/prnh/20020502/ISLELOGO
http://photoarchive.ap.org/ DATASOURCE: Isle of Capri Casinos, Inc.
CONTACT: Allan B. Solomon, Executive Vice President,
+1-561-995-6660, or Rex Yeisley, Chief Financial Officer,
+1-228-396-7052, or Lori Hutzler, Director of Corporate
Communications, +1-228-396-7031, all of Isle of Capri Casinos
Website: http://www.theislecorp.com/
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