Isle of Capri Casino

Isle of Capri Casinos, Inc. to be acquired by Nevada casino firm, Eldorado Resorts, in $1.7 billion deal

Isle of Capri Casinos, Inc. – owner of Bettendorf's Isle of Capri Casino – announced this morning (9/19) it had reached an agreement to be acquired by Eldorado Resorts of Reno, Nevada in a stock and cash transaction valued at $1.7 billion.

Eldorado would acquire all the outstanding Isle stock for $23 per share, or 1.638 shares of Eldorado common stock for each share of Isle stock. The $1.7 billion value includes the assumption of the Isle's $929 million of long-term debt.

Isle of Capri Casino, Inc. revenues down, but earnings beat last year's first quarter results

First quarter revenues at the Isle of Capri Casinos, Inc. – owner of Bettendorf's Isle of Capri gambling operation – fell 2.4 percent in the first quarter, but the St. Louis-based firm managed to post a $10.3 million profit, 25 cents per share, for the three-month period ended July 24.

Revenues at the gambling firm totaled $240.9 million for the first quarter, compared to $246.9 million for the same period a year ago.

Unsightly truck auctions now a city 'enterprise' thanks to $1.9 million state purchase for bridge

The Iowa Department of Transportation (IDOT) this spring paid $1.9 million to acquire 3.8 acres of Bettendorf riverfront property – owned by the Goldstein family's Green Bridge Company – needed for the new Interstate 74 Bridge.

The land was part of the property once hyped as the future site of a Mark Twain-themed amusement park by gambling proponents setting off to lobby the Iowa legislature in the early 1990's.

City appraiser pegs value of Isle casino property at $55 million; stage set for court hearing on tax issue

An appraiser hired by the city of Bettendorf pegs the value of the Isle of Capri Casino and its two hotels at $55.15 million. The Isle contends the property is worth just $44 million.

Unfortunately for the city, both estimates are far below the current assessed value – $85 million – agreed to by the Isle under terms of the casino/city development agreement signed when the QC Waterfront Convention Center was built.

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