Isle of Capri Casinos, Inc. Announces Termination of Agreement to Purchase The Admiral Casino
May 04 2004 - 5:49PM
PR Newswire (US)
Isle of Capri Casinos, Inc. Announces Termination of Agreement to
Purchase The Admiral Casino BILOXI, Miss., May 4
/PRNewswire-FirstCall/ -- Isle of Capri Casinos, Inc. officials
announced today that the agreement to purchase The Admiral casino
riverboat in St. Louis, Missouri from The President Riverboat
Casino-Missouri, Inc. has been terminated by the mutual agreement
of the parties. Timothy M. Hinkley, president and COO of Isle of
Capri, said, "We will continue to monitor the Admiral's ongoing
bankruptcy proceedings; however, we intend to focus our efforts
toward obtaining Missouri Gaming Commission approval of our two St.
Louis-area projects, which we believe will provide approximately
$196 million more in tax revenues over five years than any other
proposal which is currently pending before the gaming commission."
Isle of Capri Casinos, Inc., a leading developer and owner of
gaming and entertainment facilities, operates 16 casinos in 14
locations. The company owns and operates riverboat and dockside
casinos in Biloxi, Vicksburg, Lula and Natchez, Mississippi;
Bossier City and Lake Charles (2 riverboats), Louisiana;
Bettendorf, Davenport and Marquette, Iowa; and Kansas City and
Boonville, Missouri. The company also owns a 57 percent interest in
and operates land-based casinos in Black Hawk (two casinos) and
Cripple Creek, Colorado. Isle of Capri's international gaming
interests include a casino that it operates in Freeport, Grand
Bahama, and a two-thirds ownership interest in casinos in Dudley
and Wolverhampton, England. The company also owns and operates
Pompano Park Harness Racing Track in Pompano Beach, Florida. 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 fiscal year ended April 27, 2003 and Form
10-Q for the fiscal quarters ended since that date. Contacts: 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 Web site:
http://www.islecorp.com/
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 Web site:
http://www.theislecorp.com/
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