ST. LOUIS, June 5 /PRNewswire-FirstCall/ -- Isle of Capri Casinos, Inc.
(Nasdaq: ISLE) announced that it has received a favorable ruling from the
NASDAQ Listing Qualifications Panel relating to the Company's inability to
file its previous Quarterly Report on Form 10-Q by the March 9 due date.
During a hearing before the Panel on April 26, 2007, the Company requested
an exception to the applicable NASDAQ rules, allowing the Company until
July 25, 2007 to cure the filing deficiency and asking NASDAQ to continue
listing the Company's common stock on the NASDAQ Global Select Market
during the interim period. The Panel has granted the Company's request.
The Company's failure to timely file its Form 10-Q for its third fiscal
quarter ended January 28, 2007 by the March 9 due date resulted from the
Company's restatement of its financial statements for the fiscal years
ended April 25, 2004; April 24, 2005 and April 30, 2006, and the quarterly
results for fiscal 2005 and 2006 included therein, and for the first two
quarters of fiscal 2007. The failure to make a timely quarterly filing
meant that Isle of Capri was not in compliance with the filing requirements
for continued listing of its common stock on the NASDAQ Global Select
Market as set forth in Marketplace Rule 4310(c)(14). The Company
subsequently filed its Form 10-Q for the quarter on April 18, 2007, but due
to the ongoing restatement process the filing had not been reviewed by the
Company's independent auditors. The Company expects to file an amended
Quarterly Report on Form 10-Q, reviewed as required by the Company's
independent auditors, prior to the July 25, 2007 date set forth in the
Panel's decision.
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.
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, Senior 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, Donn Mitchell, Chief Financial Officer,
+1-314-813-9319, or Jill Haynes, Senior Director of Corporate
Communication, +1-314-813-9368, all of Isle of Capri Casinos,
Inc.
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