Isle of Capri Casinos Inc.

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Isle sells Marquette casino to employee-owned gambling firm, CQ Holdings, Inc. for $40 million

on Thu, 10/13/2016 - 22:46   by Editor

Isle of Capri Casinos, Inc. said today (10/13) it has agreed to sell its Marquette, Iowa casino to CQ Holdings, Inc. for $40 million, less an adjustment for working capital.

The deal with CQ Holdings' affiliate Casino Queen is specifically permitted under the agreement announced September 19 in which the Isle agreed to be acquired by Eldorado Resorts, of Reno, Nevada, in a $1.7 billion transaction, according to the company's news release.

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

on Tue, 08/30/2016 - 23:43   by Editor

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.

Isle president and CEO announces retirement; will be replaced by chief financial officer April 27

on Tue, 01/19/2016 - 02:42   by Editor

The Isle of Capri Casino, Inc. President and CEO Virginia McDowell will step down April 27 after nine years at the helm of the St. Louis-based gambling firm.

Eric L. Hausler, currently chief financial officer, will succeed McDowell as chief executive officer, and Arnold L. Block, currently chief operating officer at the Isle, will become president and chief operating officer.

McDowell will retire from the company. According to the company SEC filing January 14, her decision to retire from the board of directors "is not because of any disagreement with the company."

Isle 2nd quarter earnings up; weak revenues lead to stock sell-off and 19 per cent drop in stock price

on Wed, 12/02/2015 - 23:09   by Editor

Isle of Capri Casino, Inc. officials reported second quarter earnings of $11.45 million (28 cents per share) Wednesday (12/2), but its stock got hammered as investors apparently were concerned with weak casino revenues, particularly at the company's St. Charles, Louisiana operation.

The Isle's stock lost more than 19 percent of its value, more than $3.70 per share, in morning trading after the company reported its second quarter numbers. The stock had more than doubled in value since the first of the year, from $8.45 per share January 1 to $21.43 per share November 5.

City/Isle deal to end tax dispute; city gets $652,000 and schools, county may finally see tax boost

on Tue, 11/17/2015 - 23:25   by Editor

The tax dispute between the city of Bettendorf and the Isle of Capri Casinos, Inc. would be resolved under a development agreement deal expected to be approved tonight (11/17) by the city council.

The Isle has been seeking to lower the assessed value of its riverfront property to $45 million from the current $85 million. An appraiser hired by the city valued the Isle's two hotels and riverboat casino at $55 million. The county review board in June rejected the Isle's tax appeal, but the casino operator then filed suit in Scott County District Court.

State gambling revenues up slightly for fiscal 2015; but Bettendorf Isle casino continues downward slide

on Thu, 07/16/2015 - 23:10   by Editor

Iowa gambling revenues for fiscal year 2015 increased slightly thanks to a new casino property in Sioux City, but the decade long decline in admissions and revenues continued at Bettendorf's Isle of Capri riverboat.

Revenues for the fiscal year were down 2.4 percent to $68.5 million, while admissions at the Bettendorf casino dropped more than 8 percent to 848,000 gamblers during the 12-month period.

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