ST. LOUIS, Nov. 13 /PRNewswire-FirstCall/ -- Isle of Capri Casinos,
Inc. (Nasdaq: ISLE) announced today that the Company has executed a
definitive agreement pursuant to which it will acquire the 43% interest in
Isle of Capri-Black Hawk LLC which is currently owned by an affiliate of
Nevada Gold & Casinos, Inc. Isle of Capri Casinos, Inc. currently owns 57%
of Isle of Capri-Black Hawk LLC. Under the terms of the agreement, the
Company has agreed to pay $64.6 million for the remaining 43% interest.
Isle of Capri-Black Hawk, LLC owns Isle of Capri-Black Hawk and
Colorado Central Station, both of which are in Black Hawk, Colorado.
Bernard Goldstein, chairman and chief executive officer, said, "We are
pleased that we have been able to come to an agreement that is beneficial
to both parties. We have enjoyed our relationship with Nevada Gold, and
wish them well in future endeavors."
The transaction is subject to certain significant conditions, including
approval of the agreement by Nevada Gold shareholders, as well as customary
closing conditions.
Isle of Capri Casinos, Inc., founded in 1992, is dedicated to providing
its customers with an exceptional gaming and entertainment experience at
each of its 18 casino properties. The Company owns and operates casinos in
Biloxi, Lula and Natchez, Mississippi; Lake Charles, Louisiana; Bettendorf,
Davenport, Marquette and Waterloo, Iowa; Boonville, Caruthersville and
Kansas City, 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, a casino in Coventry, England, and a two-thirds
ownership interest in casinos in Dudley and Wolverhampton, England.
There are four Isle of Capri Casinos brands including "the isle," Isle
of Capri, Colorado Central Station and Rhythm City, providing over 16,000
slot machines, 550 table games and 3000 hotel rooms for our guests'
enjoyment.
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, Senior Director of Corporate Communication-314.813.9368
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, Senior Director of Corporate
Communication, +1-314-813-9368, all of Isle of Capri Casinos,
Inc.
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