Isle of Capri Casinos
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| Type | Public |
|---|---|
| Industry | Gambling |
| Genre | Casinos |
| Predecessor(s) | Kana Corporation, Anubis II Corporation, Casino America, Inc |
| Founded | 1992 |
| Founder(s) | Bernard Goldstein (casino owner) |
| Headquarters | Creve Coeur, Missouri, United States |
| Revenue | US$1.13 billion (2008)[1] |
| Operating income | -$51.35 million |
| Net income | -$96.87 million |
| Total assets | $2 billion |
| Total equity | $188.01 million |
| Employees | 8,559 |
| Website | http://www.islecorp.com/ |
Isle of Capri Casinos, Inc. (NASDAQ: ISLE) is a gaming company headquartered in Creve Coeur, Missouri[2] which operates casinos and associated entertainment and lodging facilities in the United States and abroad.
Currently operating 15 casinos in six states across the U.S., as well as a property in the Caribbean, Isle of Capri properties have nearly 2 million visitors each year. These properties have a total of about 15,000 slot machines, 400 table games, 3,100 hotel rooms; and three dozen restaurants.
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[edit] History
The company was founded in 1990 by Bernard Goldstein (born 1929) who rolled his two privately held companies Riverboat Corporation of Mississippi and Riverboat Services into a newly named Kana Corporation.[3]
In April 1992 it was renamed Anubis II Corporation. In June 1992 it was renamed again to Casino America, Inc. and began trading on the NASDQ under the ticker symbol CSNO. In 1995 an announced move to trade to the New York Stock Exchange. In September 1998 it became Capris Casinos, Inc.[3] and changed its ticker symbol to "ISLE."[4]
Goldstein's first casino operations were in the Quad City area of Iowa and Illinois where Goldstein operated the riverboats Diamond Lady and the Emerald Lady under the corporate name Steamboat Casino Cruises.[5] The two boats which sailed from Bettendorf, Iowa on April 1, 1991 were the first modern riverboat gambling boats.[6]
Isle of Capri Casinos opened it first casino in Biloxi, Mississippi in August 1992, and was the first gaming establishment to trade on the NASDAQ.[citation needed]
In 2005, its Biloxi casino (but not its hotel) was destroyed and its Lake Charles facilities were damaged by Hurricanes Katrina and Rita, respectively.[7][8]
In August 2006, Isle of Capri Casinos moved its headquarters from Biloxi to St. Louis suburb Creve Coeur, Missouri.[9] Missouri had offered $4.2 million in tax incentives to lure the operation. Company officials said they were looking for new headquarters after evacuating their building three times in 2004-05 due to hurricanes.[10]
On February 14, 2006, Isle of Capri sold the Isle of Capri Bossier City and Isle of Capri Vicksburg to Legends Gaming for $240 million. The properties are now known as "Diamond Jack's".
The company competed for a gambling license in the city of Pittsburgh, Pennsylvania in 2006, offering $290 million toward the construction of a new arena for the Pittsburgh Penguins as an incentive and thus drawing enormous public support in Pittsburgh. The Pennsylvania Gaming Control Board nevertheless awarded the license to PITG Gaming Majestic Star instead, who was required to partially fund the building of the new arena, the Consol Energy Center.[11]
On March 19, 2007 Isle of Capri purchased Casino Aztar in Caruthersville from Columbia Sussex for about $45 million. The casino was re-branded Lady Luck Casino on June 10, 2008.[12]
In April, 2007 the Company opened a casino called the Isle Casino & Racing at Pompano Park in Pompano Beach FL
On July 1, 2007 Isle of Capri opened a new property in Waterloo, Iowa.
In a move to increase brand recognition, all of the companies casinos will be rebranded under the Lady Luck[citation needed] or Isle brands. It has not been determined which casinos will receive which designation, but the company has said that the more local properties will receive the Lady Luck designation.[when?][who?]
On April 5, 2010 Isle of Capri and Bally Gaming announced that Isle of Capri would acquire Bally's Rainbow Casino for $80,000,000.[13]
On June 9, 2010, Isle of Capri Casinos, Inc. completed the acquisition of Rainbow Casino in Vicksburg, Miss. from Bally Technologies, Inc.
On December 1, 2010, the Missouri Gaming Commission awarded the company the state's 13th gaming license for a casino project in Cape Girardeau. The project is expected to include 1,000 slot machines, 28 table games, 3 restaurants, a lounge and terrace overlooking the Mississippi River and a 750-seat event center at an estimated cost of $125 million.
On April 14, 2011, Isle of Capri Casinos Inc. and Nemacolin Woodlands Resort were selected as the recipients of Pennsylvania's last casino resort license by the state's gaming board. Lady Luck Casino Nemacolin is expected to include 600 slot machines, 28 table games, a casual dining restaurant and lounge.
[edit] Gaming facilities
- Lady Luck Casino Black Hawk, Black Hawk, Colorado
- Isle Casino Hotel Bettendorf, Bettendorf, Iowa
- Isle Casino Hotel Black Hawk, Black Hawk, Colorado
- Isle of Capri Casino Hotel Boonville, Boonville, Missouri
- Isle Casino Hotel Biloxi, Biloxi, Mississippi
- Isle of Capri Casino Kansas City, Kansas City, Missouri
- Isle of Capri Casino Hotel Lake Charles, Lake Charles, Louisiana
- Isle of Capri Casino Hotel Lula, Lula, Mississippi
- Lady Luck Casino Marquette, Marquette, Iowa
- Isle of Capri Casino Hotel Natchez, Natchez, Mississippi
- Isle Casino Hotel Waterloo, Waterloo, Iowa
- Isle Casino Racing Pompano Park parimutuel horse racing track, Pompano Beach, Florida
- Lady Luck Casino Caruthersville, Caruthersville, Missouri
- Rainbow Casino, Vicksburg, Mississippi
- Rhythm City Casino, Davenport, Iowa
- Isle Casino Cape Girardeau, Cape Girardeau, Missouri
- Lady Luck Casino Nemacolin, Farmington, Pennsylvania
[edit] References
- ^ http://finance.google.com/finance?q=NASDAQ:ISLE
- ^ Van Der Werf, Martin. "Isle of Capri will move HQ to Creve Coeur." St. Louis Post-Dispatch. January 28, 2006. Third Edition, Business A31. Retrieved on August 19, 2009.
- ^ a b International Directory of Company Histories, Vol. 41. St. James Press, 2001
- ^ "Casino America, Inc. Becomes `Isle Of Capri Casinos, Inc.'." PR Newswire. PR Newswire Association LLC. September 25, 1998 Retrieved February 01, 2009 from HighBeam Research: http://www.highbeam.com/doc/1G1-53029175.html
- ^ Isle of Capri Celebrates 10 Years of Business in the Gaming And Entertainment Industry phx.corporate-ir.net
- ^ http://gaming.unlv.edu/hof/2008_goldstein.html
- ^ Isle of Capri Casinos, Inc., Provides Update of Hurricanes Rita and Katrina Damage
- ^ Biloxi’s casino blues / QCTimes.com
- ^ Isle of Capris Completes HQ move to Creve Coeur - St. Louis Business Journal - August 14, 2006
- ^ "City, Missouri team up to lure Isle of Capri to Creve Coeur." St. Louis Post-Dispatch (St. Louis, Missouri) (viaKnight-Ridder/Tribune Business News). January 24, 2006. Retrieved February 01, 2009 from HighBeam Research: http://www.highbeam.com/doc/1G1-141196188.html
- ^ "PITG wins slots casino license for North Side", Pittsburgh Post-Gazette, December 20, 2006
- ^ http://phx.corporate-ir.net/phoenix.zhtml?c=68944&p=irol-newsArticle&ID=1164321&highlight=
- ^ Howard Stutz (2010-04-06). "Isle of Capri acquires casino in Mississippi". Las Vegas Review-Journal. http://www.lvrj.com/business/isle-of-capri-acquires-casino-in-mississippi-89977977.html.
