Isle of Capri Casinos Inc. said Thursday that it will sell its Coventry, U.K., casino for approximately USD 940,000 in order to concentrate more on its U.S. properties. The casino operator sold the casino to The Rank Group PLC, which also bought out Isle's existing lease requirement for the Ricoh Arena for about USD 11.2 million.

Isle of Capri Casinos said consultation had begun with employees with regard to the possible sale or closure of the site at the Ricoh Arena. It is blaming the "restrictive regulatory landscape in the UK" after only being granted the license in 2005 and opening the casino a year later. The Ricoh Arena said it is confident of finding a new domestic operator.

Coventry's Isle Casino is set for a major boost next month after government changes to the law. It means that from Sunday, June 1, anyone entering the venue at the Ricoh Arena will no longer have to produce ID or become a member. Val Saunders, marketing director at casino, said: "The law changes have allowed us to implement an open access policy instead of requiring everyone to become a member or show ID.