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.”
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