Isle of Capri Casinos, Inc. - owner of the riverboat casinos in Bettendorf and Davenport - reported a $1.2 million loss for its third quarter ended January 22.
The 3 cents per share loss was an improvement over the third quarter of 2010 when the firm incurred a $2.66 million loss, or an 8 cents per share decline.
Gross revenues for the third quarter totaled $295 million, up from $280 million for the same period a year ago. The higher revenues were offset by increased promotional allowances, casino operating expenses and marketing costs, along with lower income tax benefits and derivative/interest income.
In its news release, President Virginia McDowell called the third quarter results "solid," and said the firm was "looking forward to the future with optimism as we expect to open our Isle property in Cape Girardeau, Missouri by Thanksgiving of this year, subject to regulatory approval, at least a month ahead of our previous schedule."
Meanwhile, admissions at the Bettendorf Isle during the final three months of 2011 were virtually the same as the same period in 2010, according to reports filed with the Iowa Racing and Gaming Commission.
Admissions totaled 261,286, with gross revenues of $18.5 million, for the final three months of 2011, compared with 261,209 admissions and $19.23 million in gross revenues a year ago.
At Isle's other Quad Cities riverboat, The Rhythm City in Davenport, admissions and gross revenues for the last three months of 2011 increased compared with the same period in 2010. Admissions for the three months this year totaled 229,742 with gross revenues of $12.46 million. That compares to 224,084 admissions and $12.4 million for the same three months in 2010.
CLICK HERE to download the Isle's quarterly financial report to the SEC.
