Isle of Capri Casinos announced the termination of the lease in connection with its previously announced development project in west Harrison County, Mississippi.
The lease provided for termination in the event that all of the conditions, including those related to permits and approvals, were not satisfied within the timeframe provided.
Following termination of the lease, the company will record a pre-tax charge of approximately USD 5 million related to costs previously capitalized in connection with the proposed development.
Isle of Capri Casinos, founded in 1992, is dedicated to providing its customers with a gaming and entertainment experience at each of its 18 casino properties. The company owns and operates casinos in Biloxi, Lula and Natchez, Mississippi; Lake Charles, Louisiana; Bettendorf, Davenport, Marquette and Waterloo, Iowa; Boonville, Caruthersville and Kansas City, Missouri and a casino and harness track in Pompano Beach, Florida.
The company also operates and has a 57 percent ownership interest in two casinos in Black Hawk, Colorado. Its international gaming interests include a casino that it operates in Freeport, Grand Bahama, a casino in Coventry, England, and a two-thirds ownership interest in casinos in Dudley and Wolverhampton, England.
There are four Isle of Capri Casinos brands including „the isle,“ Isle of Capri, Colorado Central Station and Rhythm City, providing over 16,000 slot machines, 550 table games and 3000 hotel rooms.