Isle Capri Casinos to be bought by Nevada casino operator
CAPE GIRARDEAU, MO (KFVS) - Isle Capri Casino in Cape Girardeau and Cauthersville, Missouri could soon have new owners.
That is because Isle of Capri Casino and Eldorado Resorts have officially entered into a definitive merger agreement.
Eldorado Resorts will buy the fellow casino operator for $1.7 billion, a deal that also includes debt.
That means Eldorado Resorts will double its number of gaming operations.
Isle of Capri operates 14 casino properties in seven states, including ones in Cape Girardeau, Caruthersville, Booneville and Kansas City.
According to Jill Alexander, senior director of corporate communication at Isle of Capri Casinos, the sale includes all Isle, Lady Luck and Isle of Capris properties featuring 22,800 slot machines and VLTs, more than 560 table games and more than 6,500 hotel rooms.
Isle Casino Cape Girardeau will become one of 20 properties owned by Eldorado Resorts.
Alexander said there would be very little, if any, noticeable differences for customers.
"The acquisition of Isle of Capri represents a transformational growth opportunity for Eldorado and creates substantial and immediate value for Isle of Capri shareholders," Alexander said.
Right now Eldorado Resorts owns seven casino locations in five states: Eldorado Resort Casino, Silver Legacy Resort Casino, and Circus Circus Hotel Casino in Reno; Eldorado Resort Casino in Shreveport, La.; Mountaineer Casino Racetrack & Resort in Chester, W.Va.; Eldorado Gaming Scioto Downs in Columbus, Ohio; and Presque Isle Downs & Casino in Erie, Pa.
The combined operations of Eldorado and Isle would have generated approximately $1.8 billion in revenue for the twelve months ending in June 30, 2016.
The transaction has been unanimously approved by the Boards of Directors of both Eldorado Resorts, Inc. and Isle of Capri Casinos, Inc.
The deal is expected to close in the second quarter of 2017.
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