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 reported yesterday financial results for the third fiscal quarter ended January 27, 2008, and announced that Jim Perry, a seasoned gaming industry executive, will become the company’s CEO on March 10, replacing Bernard Goldstein in that position. Bernard Goldstein, chairman of the board and CEO, commented: „Since joining our board last July, Jim Perry has served as the chair of a joint strategic committee…
New York (AP) — Shares of Isle of Capri Casinos Inc. slumped to a multi-year low Monday as an analyst downgraded the casino operator, citing economic concerns and a possible Iowa smoking ban. Ryan Worst of Brean Murray, Carret & Co. expects the St. Louis-based company will continue to look to lower costs, but believes sales growth will be harder to achieve in the next few quarters, which will likely keep the stock from rising much.
Isle of Capri Casinos informed that the company has completed the acquisition of the 43% interest in Isle of Capri-Black Hawk LLC previously owned by an affiliate of Nevada Gold & Casinos, Inc. Isle of Capri Casinos, Inc. previously owned 57% of Isle of Capri-Black Hawk LLC and completed the transaction at the previously announced purchase price of USD 64.6 million. Through Isle of Capri-Black Hawk, LLC., the company operates Isle of Capri-Black Hawk and Colorado Central Station, both of which are in Black Hawk, Colorado.
Shares of Isle of Capri Casinos slumped to a new 52-week low Tuesday after the casino operator reported it swung to a fiscal second-quarter loss, but some analysts remained upbeat on the company’s potential. Late Monday, Isle reported a quarterly loss of USD 24.6 million, or 80 cents per share. Excluding one-time items, the company posted a loss of 45 cents per share. Analysts polled by Thomson Financial expected a loss of 4 cents per share.
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 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 has recently opened its latest casino, the Isle Casino & Hotel at Waterloo, bringing the company’s newest brand to Iowa. „It is exciting to see „the isle“ brand move to Waterloo where guests can enjoy the hottest casino action with the latest and greatest slot machines and action-packed table games, a luxurious night’s sleep and the best restaurants,“ said Bernard Goldstein, Chairman and CEO.
