Learn, Practice, Play Blackjack
Learn, Practice, Play Table Games
Learn, Practice, Play Slots
Learn, Practice, Play Poker
Learn, Practice, Play Bingo
500 Nations Casino

Kings and Queens of Quarantine

Isle of Capri Casino Hotel Lake Charles to be Sold

#1 Casino Choice of U.S. Players
Blackjack • Slots • Table Games • Live Dealer • Video Poker
BOVADA CASINO  0 $3,000 Casino Welcome Bonus!
#1 Casino Choice of U.S. Players   Blackjack • Slots • Table Games • Live Dealer • Leaderboards • Video Poker
BOVADA CASINO  0 $3,000 Casino Welcome Bonus!
PRESS RELEASE

August 22, 2016

Isle of Capri Casinos, Inc. (NASDAQ: ISLE) announced today that it has entered into a definitive agreement to sell the Isle of Capri Casino Hotel Lake Charles to an affiliate of Laguna Development Corporation ("LDC"), a Pueblo of Laguna-owned business based in Albuquerque, New Mexico.

Under the terms of the agreement, Kicks Entertainment, LLC, a newly formed entity owned by LDC and Eagle Holdings, LLLP, will purchase Isle of Capri Casino Hotel Lake Charles for cash consideration of approximately $134.5 million, which represents 7.8x fiscal 2016 Adjusted EBITDA, subject to a customary working capital adjustment.

Eric Hausler, chief executive officer of Isle of Capri Casinos, commented, "This transaction provides us with an opportunity to unlock significant value for our shareholders. On a pro forma basis, we expect the transaction to increase Adjusted EBITDA margins, while further deleveraging our balance sheet. Following the completion of the sale, we intend to use the cash proceeds we receive from this transaction to reduce debt and for other corporate purposes.

"We have enjoyed owning and operating Isle of Capri Casino Hotel Lake Charles for more than 20 years, and we appreciate the hard work and dedication of our team. While we work on a smooth transition to Kicks Entertainment, LLC, our focus remains on providing our customers with the great experiences they have come to expect from Isle of Capri Casino Hotel Lake Charles."

Isle of Capri Casino Hotel Lake Charles will be accounted for as discontinued operations beginning in the fiscal 2017 second quarter. The sale is expected to close in late fiscal 2017/early fiscal 2018, subject to the approval of the Louisiana Gaming Control Board, the expiration or termination of the waiting period under the Hart-Scott-Rodino Act, as well as customary closing conditions.

Return to Missouri Casinos.


VOTED #1
Most Popular Online Casino USA

Most players - Most visits

CASINO • LIVE DEALER • POKER • SPORTSBOOK • RACEBOOK

$3,000 Casino Welcome Bonus - 100% Match Bonus redeemable 3 times up to $3,000 total. 300+ Games, Leaderboards, Live Dealers, Mobile Live Dealer Games
Play Blackjack, Baccarat, Roulette or Super 6 with a live dealer. Get either the casino or the bitcoin welcome bonus. $500 Poker Welcome Bonus - "#1 Online Poker Room in U.S." Get 100% Match Bonus up to $500. Deep player pools. deep prize pools, hundreds of weekly tournaments, mobile. $250 Sports Welcome Bonus - 50% Match Bonus up to $250 on first deposit. Live betting, live odds, bitcoin promo, mobile betting. Bitcoin Welcome Bonus - Get more bonus with bitcoins. 150% Bitcoin Casino Match Bonus up to $1,500 redeemable three times plus 50% Bitcoin Match bonus up to $500 on sports.


Join Bovada Join Bovada Join Bovada Join Bovada Join Bovada

Disclaimer: All images are copyright to their respective owners and are used by 500 Nations for informational purposes only.

500 Nations is an independent directory and information service free of any gaming operator's control and not affiliated with any casino.
Warning: You must ensure you meet all age and other regulatory requirements before entering a casino or placing a wager. There are hundreds of jurisdictions in the world with Internet access and hundreds of different games and gambling opportunities available on the Internet. Do not assume that Internet gaming sites are in compliance with the rules and regulations of every jurisdiction from which they accept players. YOU are responsible for determining if it is legal for YOU to play any particular game or place any particular wager under the laws of the jurisdiction where you are located.