Isle of Capri Casinos announced that the company has executed a definitive agreement pursuant to which it will acquire the 43% interest in Isle of Capri-Black Hawk, which is currently owned by an affiliate of Nevada Gold & Casinos.
Isle of Capri Casinos currently owns 57% of Isle of Capri-Black Hawk. Under the terms of the agreement, the company has agreed to pay USD 64.6 million for the remaining 43% interest.
Isle of Capri-Black Hawk, LLC owns Isle of Capri-Black Hawk and Colorado Central Station, both of which are in Black Hawk, Colorado.
Bernard Goldstein, chairman and CEO, said, „We are pleased that we have been able to come to an agreement that is beneficial to both parties. We have enjoyed our relationship with Nevada Gold, and wish them well in future endeavors.“
The transaction is subject to certain significant conditions, including approval of the agreement by Nevada Gold shareholders, as well as customary closing conditions.