The Full Wiki

Isle of Capri Casinos: Wikis

  
  

Note: Many of our articles have direct quotes from sources you can cite, within the Wikipedia article! This article doesn't yet, but we're working on it! See more info or our list of citable articles.

Encyclopedia

From Wikipedia, the free encyclopedia

Isle of Capri Casinos
Type Public
Genre Casinos
Predecessor Kana Corporation, Anubis II Corporation, Casino America, Inc
Founded 1992
Founder(s) Bernard Goldstein (casino owner)
Headquarters Creve Coeur, Missouri, United States
Industry Gambling
Revenue USD$1,125.35 million (2008)[1]
Operating income -$51.35 million
Net income -$96.87 million
Total assets $1,974.17 million
Total equity $188.01 million
Employees 8,559
Website http://www.islecorp.com/

Isle of Capri Casinos, Inc. (NASDAQISLE) 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 18 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.

International operations consists of a two-thirds ownership interest in a pair of casinos in Dudley and Wolverhapton, England.

Contents

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.[4] and changed its ticker symbol to "ISLE."[5]

Goldstein's first casino operations were in the Quad City area of Iowa and Illinois where they operated the riverboats Diamond Lady and the Emerald Lady under the corporate name Steamboat Casino Cruises.[6] The two boats which sailed from Bettendorf, Iowa on April 1, 1991 were the first modern riverboat gambling boats.[7]


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.

In 2005, its Biloxi casino (but not its hotel) was destroyed and its Lake Charles facilities damaged by Hurricanes Katrina and Rita, respectively.[8][9]

In August 2006 it moved its headquarters from Biloxi to St. Louis suburb Creve Coeur, Missouri.[10]. Missouri had offered $4.2 million in tax incentives to lure it. Company officials said they were looking for new headquarters after evacuating their building three times in 2004-05 due to hurricanes.[11]

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 towards building a new arena for the Pittsburgh Penguins as an incentive and thus drawing enormous public support in Pittsburgh, but the Pennsylvania Gaming Control Board 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.[12]

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.[13]

In April, 2007 the Company opened a casino called the Isle Casino & Racing at Pompano Park.

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 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.

Gaming facilities

References

  1. ^ http://finance.google.com/finance?q=NASDAQ:ISLE
  2. ^ 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.
  3. ^ International Directory of Company Histories, Vol. 41. St. James Press, 2001
  4. ^ http://www.fundinguniverse.com/company-histories/Isle-of-Capri-Casinos-Inc-Company-History.html International Directory of Company Histories, Vol. 41. St. James Press, 2001]
  5. ^ "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
  6. ^ Isle of Capri Celebrates 10 Years of Business in the Gaming And Entertainment Industry phx.corporate-ir.net
  7. ^ http://gaming.unlv.edu/hof/2008_goldstein.html
  8. ^ Isle of Capri Casinos, Inc., Provides Update of Hurricanes Rita and Katrina Damage
  9. ^ Biloxi’s casino blues / QCTimes.com
  10. ^ Isle of Capris Completes HQ move to Creve Coeur - St. Louis Business Journal - August 14, 2006
  11. ^ "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
  12. ^ "PITG wins slots casino license for North Side", Pittsburgh Post-Gazette, December 20, 2006
  13. ^ http://phx.corporate-ir.net/phoenix.zhtml?c=68944&p=irol-newsArticle&ID=1164321&highlight=

External links








Got something to say? Make a comment.
Your name
Your email address
Message