The Isle of Capri Casinos, Inc. – owner of Bettendorf's riverboat casino – reported first quarter earnings of 17 cents per share, up from a loss of 6 cents per share for the same period a year ago.
Net revenues for the three-month period ended July 29 were $236 million, up nearly 4 percent from $228 million in revenue during the first quarter of 2011. Net income for the first quarter was $6.7 million, compared with a loss of $2.3 million a year ago.
Revenues for the first quarter at the Isle's Bettendorf casino were $19.86 million, compared with $20.1 million for the same period last year. Revenues at the Isle's Davenport casino, the Rhythm City, totaled $10.65 million in the first quarter, compared with $10.3 million in 2011.
The quarterly results were at the high end of financial analysts' estimates, and the Isle stock was up more than 3 percent in early trading Wednesday (8/29).
The largest boost in the Isle's casino revenues came from its Mississippi properties in Natchez, Lula and Vicksburg. The Natchez facility saw net revenues climb $3 million, Lula casino revenues were up $5 million and the Vicksburg casino revenues were $1.2 million higher than the same period a year ago.
CLICK HERE to download the Isle's full first quarter financial report.
