gambling

Thanks to a $17.8-million income tax benefit, Isle of Capri Casinos, Inc. Thursday (12/1) reported second quarter earnings of $23.7 million (57 cents per share), more than double the gambling firm's earnings for the same quarter last year.

Bettendorf's gambling casino posted a slight increase in revenue in fiscal 2016, but the number of gamblers frequenting the Isle of Capri riverboat fell to 823,000, a 16-year low.

The slight uptick in revenues and decline in casino gamblers at the local casino reflected a similar pattern statewide.

Adjusted gross revenues at the state's 19 casinos were up 1.5 percent to $1.437 billion for the fiscal year ended June 30, while admissions fell by .04 percent to 21,538,433 during the 12-month period.

The first quarter financial results of Isle of Capri Casino, Inc. drew praise from stock analysts Wednesday (9/2), but its Bettendorf riverboat was noteworthy for just the opposite – falling revenues.

The Isle earned $3.1 million for the first quarter, or 8 cents per share, a turnaround from last year when the gambling firm lost 6 cents per share, or $2.3 million. The St. Louis-based firm also reported a significant increase in net revenues for the period, jumping nearly 5 percent to $260 million, compared to $249.5 million during the same period a year ago.

Isle of Capri Casinos, Inc. finished its fiscal year ended April 26 with net revenues up more than 4 percent to $996 million and earnings of $5.2 million, or 13 cents per share, for the 12-month period.