Isle of Capri Casinos
 |
|
| Public | |
| Traded as | NASDAQ: ISLE |
| Industry | Gaming |
| Genre | Casinos |
| Founded | 1992 |
| Founder | Bernard Goldstein |
| Headquarters | Creve Coeur, Missouri, United States |
| Revenue | US$1.13 billion (2008) |
| -$51.35 million | |
| -$96.87 million | |
| Total assets | $2 billion |
| Total equity | $188.01 million |
|
Number of employees
|
7,500 |
| Website | islecorp |
Isle of Capri Casinos, Inc. is a gaming company headquartered in Creve Coeur, Missouri, in Greater St. Louis which operates casinos and associated entertainment and lodging facilities in the United States.
Currently operating 15 casinos in seven states across the U.S., Isle of Capri properties have nearly 13 million visitors each year. These properties have a total of about 14,000 slot machines, 350 table games, 2,300 hotel rooms; and three dozen restaurants.
The company opened its first casino in 1992 as a publicly traded corporation. The Company's founder Bernard Goldstein was known as the "grandfather of riverboat gaming since he owned the first riverboat casino to sail on the Mississippi River.
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 it announced a move to trade to the but that did not happen. In September 1998 it became Capris Casinos, Inc. and changed its ticker symbol to "ISLE."
Goldstein's first casino operations were in the Quad City area of Iowa and Illinois, where Goldstein operated the riverboats Diamond Lady and the Emerald Lady under the corporate name Steamboat Casino Cruises. The two boats, which sailed from Bettendorf, Iowa on April 1, 1991, were two of the first modern riverboat casinos.
Isle of Capri Casinos opened its first casino in Biloxi, Mississippi in August 1992, and was the first gaming establishment to trade on the NASDAQ.
In 2000, Isle of Capri spent $400 million in a multi-part deal to acquire the Lady Luck chain of casinos. Lady Luck Gaming, which owned two adjacent Lady Luck casinos in Lula, Mississippi, one in Natchez, Mississippi, the Miss Marquette casino in Marquette, Iowa, and a half interest in the Lady Luck casino in Bettendorf, Iowa, was bought for $59 million in cash, $177 million in assumed debt, and $22 million to redeem preferred stock. On the same day, Isle of Capri bought the other half of the Bettendorf property from Goldstein's family for $62 million, and the rights to the Lady Luck trademark from Lady Luck's founder, Andrew Tompkins, for $31 million. Six months later, it completed the purchase of the Lady Luck Hotel & Casino in downtown Las Vegas from Tompkins for $14.5 million. The Las Vegas property was sold two years later to a group of real estate investors. The other Lady Luck properties were all rebranded under the Isle of Capri name.
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