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.
Top Posts & Pages
- DeSoto County Supervisor Lee dies in ATV accident on his birthday
- Molpus closes Fund after more than $662M in commitments
- Kemper County plant will cost at least another $496M to complete
- Cochran calls on EPA for review of Yazoo Backwater Project
- State Sen. Gandy hospitalized in South America
- Camgian launches Internet of Things product called Egburt
- Former Mississippi First Lady Carroll Waller dies at 87
- After string of losses, O'Hara sees himself as Senate 'protest vote'
- Number of requests for general election absentee ballots roughly same as primary