Isle of Capri reports decreased in-state revenues; experiencing ‘market pressures’
by MBJ Staff
Published: August 28,2014
AROUND MISSISSIPPI — Isle of Capri Casinos Inc. has released financial results for the first quarter of fiscal year 2015.
Company-wide, net revenue for the quarter was $241.6 million, compared to $238.0 million in the prior year quarter, and consolidated adjusted EBITDA was $43.7 million, compared to $41.9 million in the same quarter of the prior fiscal year
However, Isle of Capri’s net revenues in Mississippi decreased $0.8 million to $24.9 million, and adjusted EBITDA was consistent with prior year at $2.8 million. In Lula, the gaming company improved its adjusted EBITDA by over 30 percent and margins by over 400 basis points, which Isle of Capri attributed primarily to a more targeted marketing program and profit improvement initiatives.
Isle of Capri reported that Natchez and Vicksburg “continue to experience market pressures from competition and economic conditions.”
To sign up for Mississippi Business Daily Updates, click here.
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Voters to decide whether hunting, fishing is constitutional right
- Dak Prescott's autograph fetches a pretty penny
- Gulf oil and gas leases to go up for sale in March
- Grand juries charge seven with election violations
- Farm theft investigation recovers $200K in stolen equipment
- Butler Snow names Crockoft new office director
- Airport gets grant to support seasonal service from Sun Country
- State officials identify first flu case this season
- NCCI petitioning for workers' comp rate decrease