Home » NEWS » Gaming » Isle of Capri records loss; says state properties face 'pressure'

Isle of Capri records loss; says state properties face 'pressure'

Royal-Flush_GambleST. LOUIS — Isle of Capri Casinos Inc. has reported financial results for the third quarter of fiscal year 2014 ended Jan. 26.

Diluted income (loss) per share from continuing operations for the quarter was $0.24 compared to ($0.06) for the third quarter last year. Income from continuing operations was impacted by the reversal of a $2-million litigation accrual due to a recent favorable court ruling, and the $12-million reversal of a previously recorded tax valuation allowance, as a result of the recent sale of Isle’s Davenport, Iowa, property. The loss from continuing operations for the prior year quarter were impacted by preopening expense of $1 million related to our Nemacolin and Cape Girardeau properties.

Excluding these items, adjusted earnings per share from continuing operations would have been a loss of ($0.12) for the fiscal 2014 quarter, compared to a loss of ($0.04) for the prior year quarter.

Isle reported Mississippi net revenues decreased from $25.9 million to $22.9 million and adjusted EBITDA decreased from $3.9 million to $2.1 million.

“Our properties in Mississippi continued to face competitive pressures during the period,” the company wrote in a statement.


… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.

If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.

Click for more info

About MBJ Staff

Leave a Reply