ST. LOUIS, Mo., May 31 /PRNewswire-FirstCall/ -- Isle of Capri Casinos,
Inc. (Nasdaq: ISLE) today announced that its Board of Directors has given
approval to proceed with a refinancing of a significant portion of the
Company's indebtedness. The planned refinancing would involve using the
proceeds of a new senior secured credit facility to refinance both the
Company's existing senior secured credit facility and its outstanding 9%
Senior Subordinated Notes due 2012. The Company plans to complete the
refinancing in the next several weeks, subject to market conditions.
Isle of Capri Casinos, Inc., founded in 1992, is dedicated to providing
its customers with an exceptional gaming and entertainment experience.
Welcoming guests at each of its 15 casino properties are team members
committed to superior service and a fun atmosphere. The Company owns and
operates casinos in Biloxi, Lula and Natchez, Mississippi; Lake Charles,
Louisiana; Bettendorf, Davenport and Marquette, Iowa; Kansas City and
Boonville, 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. Isle of Capri Casinos'
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.
The Company is also developing a new casino and hotel in Waterloo,
Iowa, as well as a casino in Coventry, England. The Company has also signed
an agreement to acquire a casino in Caruthersville, Missouri. There are
four Isle of Capri Casinos brands including the isle, Isle of Capri,
Colorado Central Station and Rhythm City, providing over 14,000 slot
machines, 500 table games and 2600 hotel rooms for our guests' enjoyment.
This press release contains forward-looking statements which are
subject to change. Forward-looking statements generally can be identified
by the use of forward-looking terminology such as "may", "will", "expect",
"intend", "estimate", "anticipate", "believe" or "continue" or the negative
thereof or variations thereon or similar terminology. 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, permits, weather, competition, market
conditions in the financing markets 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 10-K for the fiscal
year ended April 30, 2006.
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
http://www.islecorp.com
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/
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 of Isle of Capri Casinos,
Inc.
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