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Isle Of Capri Casinos, Inc. Receives Approval From Port Authority For Kansas City Project

BILOXI, Miss., May 16 /PRNewswire/ -- Isle of Capri Casinos, Inc., (Nasdaq: ISLE) experienced smooth sailing yesterday during a presentation to the Kansas City Port Authority. The Isle's assumption of lease and development agreements of the Flamingo Hilton Riverboat Casino now owned by Flamingo Hilton Riverboat Casino, L.P., a subsidiary of Hilton Hotel Corporation (NYSE: HLT), was approved by a unanimous vote by authority commissioners.

The acquisition remains subject to the approval of the Missouri Gaming Commission. The company expects to complete the acquisition this June.

The Isle of Capri Casinos, Inc. also plans to develop a $75 million gaming and entertainment facility in Boonville, Missouri, which was recently unanimously approved by the Missouri Gaming Commission. The company has closed on the acquisition of this property from Davis Gaming Company.

The Isle of Capri Casinos, Inc. is seeking to develop a hotel and casino complex in the South St. Louis metropolitan area and has two separate applications pending before the Missouri Gaming Commission as well. One of the applications relates to a proposed development south of the Jefferson Barracks Bridge in St. Louis County. The second application relates to a proposed development in Jefferson County. The latter application was submitted by the Lady Luck Gaming Corporation, which was recently acquired by the Isle of Capri Casinos, Inc.

Bernard Goldstein, chairman and chief operating officer, said, "As our company looks forward, we recognize Missouri to be a prime gaming jurisdiction. We feel that Kansas City, in addition to our Boonville project, holds an excellent opportunity for our expansion into the Midwest."

Noted John M. Gallaway, president and chief operating officer, "The Kansas City Port Authority's approval today is another positive step for our company to bring Isle Style to Missouri. We focus on a standardized gaming product; our way of operating will bring a new level of casino entertainment to the Kansas City market."

Isle of Capri Casinos, Inc. owns and operates riverboat, dockside and land-based casinos at 10 locations, including the Isle of Capri Casino Crowne Plaza Resort in Biloxi, MS; the Isle of Capri Casino & Hotel in Vicksburg, MS.; the Isle of Capri Casino & Hotel in Bossier City, LA; two riverboats operating as the Isle of Capri Casino & Hotel in Lake Charles, LA; the Isle of Capri Casino in Black Hawk, CO [through a 57-percent-owned subsidiary]; and the Isle of Capri Casino in Tunica, MS; the Lady Luck Casino & Hotels in Lula, MS; Lady Luck Casino & Hotel in Natchez, MS; Lady Luck Casino & Hotel in Bettendorf, IA and the Miss Marquette Casino & Hotel in Marquette, IA. The company also operates Pompano Park Harness Racing Track in Pompano Beach, FL, and through a joint venture the Enchanted Capri cruise ship, which features an Isle of Capri Casino, sailing from New Orleans, LA.

This press release may be deemed to contain forward-looking statements, which are subject to change. These forward-looking statements may be significantly impacted, either positively or negatively by various factors including without limitation, licensing and other regulatory approvals, financing sources, development and construction activities, costs and delays, permits, competition and business conditions in the gaming industry. Additional information concerning potential factors that could affect the company's financial condition, results of operations and expansion projects, is included in the filings of the company with the Securities and Exchange Commission, including, but not limited to, its annual report and its form 10-K for the fiscal year ended April 25, 1999.

NOTE: Other Isle of Capri Casinos, Inc. press releases and a corporate profile are available by fax at no charge. For a menu of available Isle of Capri Casinos, Inc. press releases, call 800.758.5804, ext. 145913 or log on to http://www.prnewswire.com. Isle of Capri Casinos, Inc.'s home page is http://www.theislecorp.com.
SOURCE Isle of Capri Casinos, Inc.
Company News On-Call: http: //www.prnewswire.com/comp/145913.html or fax, 800-758-5804, ext. 145913
CONTACT: Allan B. Solomon, Executive Vice President, 561-995-6660; or Rex Yeisley, Chief Financial Officer, 228-396-7052, both of Isle of Capri Casinos

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