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
