BILOXI, Miss., Jan. 22 /PRNewswire-FirstCall/ -- Isle of Capri Casinos,
Inc. (Nasdaq: ISLE) announced today final construction plans for the Isle
of Capri Biloxi Casino Resort.
The more than $180 million construction project will be largely funded
by insurance proceeds associated with Hurricane Katrina. The project
includes a land-based casino with approximately 2,100 slot machines, 50
table games, a new poker room, rebuilding the Company's signature
steakhouse, Farraddays', as well as an expanded tropical-themed buffet,
plus one other restaurant yet to be named.
Approximately 45,000 square feet of convention space that is currently
serving as gaming space will be restored to its original use. In addition,
the casino entryway will be renovated to allow guests easier access.
When complete, this project will return the Isle of Capri Biloxi Casino
Resort to the planned pre-Katrina levels. The Biloxi property also includes
731 hotel rooms, a European Spa, infinity pool and waterfall which opened
to the public last summer.
"The Mississippi Coast continues to work toward a complete restoration
and Isle of Capri is actively participating in the continued evolution of
the region. We have worked closely with our insurance carriers, as well as
the City of Biloxi and the Mississippi Gaming Commission, throughout the
past year to return our property to pre-Katrina levels. I am proud of the
work we have done thus far and I am quite sure that our guests and the
community will enjoy everything the Isle of Capri offers when this project
is completed," Tim Hinkley, president and chief operating officer, said.
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 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 .
SOURCE Isle of Capri Casinos, Inc.
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Related links:
http://www.islecorp.com
Photo Notes:
NewsCom: http://www.newscom.com/cgi-bin/prnh/20020502/ISLELOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
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 for Isle of Capri Casinos,
Inc.
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