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Isle of Capri Celebrates 10 Years of Business in the Gaming And Entertainment Industry

BILOXI, Miss., July 30 /PRNewswire-FirstCall/ -- Isle of Capri Casinos, Inc. (Nasdaq: ISLE), one of the nation's leading casino operators, will celebrate its 10-year anniversary on August 1. On that date in 1992, Isle of Capri launched its unique style of gaming at a new riverboat casino in Biloxi, Miss. This brought a new era of dockside gaming to the South, while propelling a small regional entertainment niche into what is now a multi-billion-dollar domestic industry.

(Photo: http://www.newscom.com/cgi-bin/prnh/20020730/FLTU011 )

"From our modest start a decade ago on Mississippi's Gulf Coast area, we've played a big part in growing this industry and making it an economic force for creating jobs and revitalizing communities across the country," said Bernard Goldstein, Isle of Capri's chairman and chief executive officer. Goldstein is known as the "Father of Riverboat Gaming" because of his pioneering endeavors in the early 1990s when gambling was first legalized in states outside of Nevada and New Jersey.

The idea for Isle of Capri began with Goldstein's first riverboat enterprise, in the Quad Cities region of Illinois and Iowa. There, under the name Steamboat Casino Cruises, he and his partners launched gaming excursions on two new riverboats, the Diamond Lady and the Emerald Lady. But when that initial venture proved unsuccessful, the boats set sail for Mississippi's Gulf Coast. The company was renamed Casino America and later Isle of Capri Casinos, Inc. and became the first and only casino in the South when its doors opened in 1992. The company's current name comes, in shortened form, from an island- resort off the coast of Mississippi called the Isle of Caprice, which disappeared by the early 1950s due to erosion.

"Isle of Capri has paved the way for the riverboat and dockside gaming industry. Over the past 10 years, we have grown this company from an operator of a single casino to the seventh largest publicly held gaming company in the nation. I extend a much deserved thank you today to all the Isle team members who have, through their loyalty and hard work, been a part of our development and success," said John M. Gallaway, Isle of Capri's president and chief operating officer.

Since Isle of Capri opened its first casino, the company has grown significantly. Isle of Capri Casinos, Inc. now owns and operates 15 riverboat, dockside and land-based casinos at 14 locations, including Biloxi, Vicksburg, Tunica, Lula and Natchez, Mississippi; Bossier City and Lake Charles (two riverboats), Louisiana; Black Hawk, Colorado; Bettendorf, Davenport and Marquette, Iowa; Kansas City and Boonville, Missouri; and Las Vegas, Nevada. The company also operates Pompano Park Harness Racing Track in Pompano Beach, Florida.

Along with Isle of Capri, the dockside gaming industry has also flourished. In 1991, the commercial gaming industry had $8.61 billion in revenues, according to the American Gaming Association. By 2001 that had grown nearly 200 percent to $25.48 billion. (See photo note below.) Equally important, employment in the gaming industry over the last decade has increased to 364,804 workers, with wages totaling $11.70 billion by the end of last year. States and municipalities throughout the country have also benefited from gaming taxes that totaled $4.90 billion in 2001. (Source: American Gaming Association)

(Photo: http://www.newscom.com/cgi-bin/prnh/20020730/FLTU011 )

"The Isle of Capri has taken casino entertainment beyond its traditional roots in Las Vegas and Atlantic City," said Frank J. Fahrenkopf, Jr., president and CEO of the American Gaming Association. "Our industry is dramatically different today than it was just 10 years ago, and Isle has played a big role in that evolution."

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, weather, permits, competition and business conditions in the gaming industry. The forward-looking statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from those expressed in or implied by the statements herein.

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 Form 10-K for the fiscal year ended April 28, 2002.
Please contact Lori Hutzler at (228)396-7031 or lori_hutzler@islecorp.com.

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SOURCE Isle of Capri Casinos, Inc.
Web site: http: //www.theislecorp.com
Photo: http: //www.newscom.com/cgi-bin/prnh/20020502/ISLELOGO http://www.newscom.com/cgi-bin/prnh/20020730/FLTU011 AP Archive: http://photoarchive.ap.org PRN Photo Desk, 888-776-6555 or 212-782-2840
CONTACT: Lori Hutzler of Isle of Capri Casinos, Inc., +1-228-396-7031
EDITOR'S ADVISORY: Photographs of Isle of Capri officers and B-Roll of the company's casino properties are available for your use. A webcast of the Isle's 10th anniversary news conference is available on demand after 3:00 p.m. on July 31 at www.islecorp.com
Company News On-Call: http: //www.prnewswire.com/gh/cnoc/comp/145913.html
CAPTION: FLTU011 ISLE OF CAPRI CASINOS CELEBRATES 10 YEARS OF BUSINESS U.S commercial casino gaming revenues, 1991 - 2001. (Source: American Gaming Association). Isle of Capri Casinos, Inc. owns and operates 15 riverboat, dockside and land-based casinos at 14 locations, including Biloxi, Vicksburg, Tunica, Lula and Natchez, Mississippi; Bossier City and Lake Charles (two riverboats), Louisiana; Black Hawk, Colorado; Bettendorf, Davenport and Marquette, Iowa; Kansas City and Boonville, Missouri; and Las Vegas, Nevada. The company also operates Pompano Park Harness Racing Track in Pompano Beach, Florida. (PRNewsFoto)[TK] BILOXI, MS USA 07/30/2002
CAPTION: ISLELOGO ISLE OF CAPRI CASINOS LOGO Isle of Capri Casinos, Inc. logo. (PRNewsFoto)[TK] BILOXI, MS USA 05/02/2002

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