Isle of Capri Casinos, Inc. Will Proceed With Development at Pompano Park
August 08 2006 - 7:02PM
PR Newswire (US)
ST. LOUIS, Mo., Aug. 8 /PRNewswire-FirstCall/ -- Isle of Capri
Casinos, Inc. announced today that it is proceeding with the
development of its slot machine facility at Pompano Park and
currently anticipates that a court decision rendered today will not
impact the opening of its facility now scheduled for early 2007.
The Florida District Court of Appeal First District reversed a
lower court decision granting summary judgment in favor of
Floridians for a Level Playing Field (FLPF), of which Isle of Capri
is a member. The Court ruled that a trial is necessary to determine
whether FLPF obtained the required number of signatures to place
the constitutional amendment on the ballot in November 2004. Isle
believes that today's decision is contrary to existing Florida law
and if a trial were to be held, that FLPF would prevail on the
merits. If FLPF is ultimately unsuccessful in the litigation, the
statewide vote amending the Florida constitution to permit slot
machines at pari-mutuels would be invalidated. Isle expects that
FLPF will explore all available options, including a petition for
rehearing, a rehearing en banc and filing a motion for
certification to the Florida Supreme Court. Isle of Capri Casinos,
Inc., a leading developer and owner of gaming and entertainment
facilities, operates 13 casinos in 11 locations. The company owns
and operates riverboat and dockside casinos in Biloxi, Lula and
Natchez, Mississippi; 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),
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, Walsall 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 most recently ended fiscal year. CONTACTS:
Isle of Capri Casinos, Inc. Allan B. Solomon, Executive Vice
President-561.995.6660 Donn Mitchell, Chief Financial
Officer-314.813.9319 Jill Haynes, Director of Corporate
Communication-314.813.9368 NOTE: Other Isle of Capri Casinos, Inc.
press releases and a corporate profile are available at
http://www.prnewswire.com/ . Isle of Capri Casinos, Inc.'s home
page is 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 Donn Mitchell, Chief Financial Officer,
+1-314-813-9319, or Jill Haynes, Director of Corporate
Communication, +1-314-813-9368, all of Isle of Capri Casinos Web
site: http://www.theislecorp.com/
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