Isle of Capri selling Coast casino for $45M to Golden Nugget
Published: March 5,2012
BILOXI — Isle of Capri Casinos,Inc. has entered into a definitive purchase agreement with Golden Nugget Biloxi Inc., a wholly owned subsidiary of Landry’s Inc., to sell its Isle Casino Hotel in Biloxi.
Under the terms of the agreement, Golden Nugget Biloxi has agreed to pay Isle of Capri Casinos approximately $45 million. The transaction is subject to regulatory approval and other customary closing conditions.
Virginia McDowell, president and CEO of St. Louis, Mo.-based Isle of Capri, said, “This transaction allows us to monetize an asset at a deleveraging price. We have enjoyed 20 years of owning and operating Isle Casino Hotel Biloxi and we appreciate the hard work and dedication of our team. Moving forward we plan to continue implementation of several initiatives to improve the product offering at our properties including the continued roll out of our exciting Farmers’ Pick Buffet, and the rebranding of several of our casinos to the Lady Luck Brand including the recently announced rebrand of our casino in Vicksburg, Miss.”
To sign up for Mississippi Business Daily Updates, click here.
Twang & Tourism: The Country Music Trail
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Two BancorpSouth mergers delayed by federal inquiries
- Moon River Foods creating 100 jobs in Mississippi Delta
- DAVID DALLAS: Mr. McDaniel goes to Washington
- Wasted away — Margaritaville in Biloxi to close by Sept. 19
- Severstal selling plants, including Severstal Columbus
- Judge to hear from True the Vote as McDaniel attempts to overturn loss to Cochran
- Google chooses Mad Genius as example of Internet use
- Weyerhaeuser investing $57M to modernize lumber mill
- Police find Attorney General Hood's stolen handgun