Isle of Capri Casinos
Encyclopedia
Isle of Capri Casinos, Inc. is a gaming company headquartered in Creve Coeur
, Missouri
which operates casino
s and associated entertainment and lodging facilities in the United States and abroad.
Currently operating 15 casinos in six states across the U.S., as well as a property in the Caribbean, Isle of Capri properties have nearly 2 million visitors each year. These properties have a total of about 15,000 slot machine
s, 400 table games, 3,100 hotel rooms; and three dozen restaurants.
(born 1929) who rolled his two privately held companies Riverboat Corporation of Mississippi and Riverboat Services into a newly named Kana Corporation.
In April 1992 it was renamed Anubis II Corporation. In June 1992 it was renamed again to Casino America, Inc. and began trading on the NASDQ under the ticker symbol
CSNO. In 1995 an announced move to trade to the New York Stock Exchange
. In September 1998 it became Capris Casinos, Inc. and changed its ticker symbol to "ISLE."
Goldstein's first casino operations were in the Quad City area of Iowa
and Illinois
where Goldstein operated the riverboats Diamond Lady and the Emerald Lady under the corporate name Steamboat Casino Cruises. The two boats which sailed from Bettendorf, Iowa
on April 1, 1991 were the first modern riverboat gambling boats.
Isle of Capri Casinos opened it first casino in Biloxi, Mississippi
in August 1992, and was the first gaming establishment to trade on the NASDAQ
.
In 2005, its Biloxi casino (but not its hotel) was destroyed and its Lake Charles facilities were damaged by Hurricanes Katrina
and Rita
, respectively.
In August 2006, Isle of Capri Casinos moved its headquarters from Biloxi to St. Louis suburb Creve Coeur, Missouri
. Missouri had offered $4.2 million in tax incentives to lure the operation. Company officials said they were looking for new headquarters after evacuating their building three times in 2004-05 due to hurricanes.
On February 14, 2006, Isle of Capri sold the Isle of Capri Bossier City and Isle of Capri Vicksburg to Legends Gaming for $240 million. The properties are now known as "Diamond Jack's".
The company competed for a gambling license in the city of Pittsburgh, Pennsylvania
in 2006, offering $290 million toward the construction of a new arena for the Pittsburgh Penguins
as an incentive and thus drawing enormous public support in Pittsburgh. The Pennsylvania Gaming Control Board
nevertheless awarded the license to PITG Gaming Majestic Star
instead, who was required to partially fund the building of the new arena, the Consol Energy Center.
On March 19, 2007 Isle of Capri purchased Casino Aztar in Caruthersville from Columbia Sussex
for about $45 million. The casino was re-branded Lady Luck Casino on June 10, 2008.
In April, 2007 the Company opened a casino called the Isle Casino & Racing at Pompano Park.
On July 1, 2007 Isle of Capri opened a new property in Waterloo
, Iowa
.
In a move to increase brand recognition, all of the companies casinos will be rebranded under the Lady Luck or Isle brands. It has not been determined which casinos will receive which designation, but the company has said that the more local properties will receive the Lady Luck designation.
On April 5, 2010 Isle of Capri and Bally Gaming announced that Isle of Capri would acquire Bally's Rainbow Casino
for $80,000,000.
On June 9, 2010, Isle of Capri Casinos, Inc. completed the acquisition of Rainbow Casino in Vicksburg, Miss. from Bally Technologies, Inc.
On December 1, 2010, the Missouri Gaming Commission awarded the company the state's 13th gaming license for a casino project in Cape Girardeau. The project is expected to include 1,000 slot machines, 28 table games, 3 restaurants, a lounge and terrace overlooking the Mississippi River and a 750-seat event center at an estimated cost of $125 million.
On April 14, 2011, Isle of Capri Casinos Inc. and Nemacolin Woodlands Resort were selected as the recipients of Pennsylvania's last casino resort license by the state's gaming board. Lady Luck Casino Nemacolin is expected to include 600 slot machines, 28 table games, a casual dining restaurant and lounge.
Creve Coeur, Missouri
Creve Coeur, derived from French for "heartbreak" , is a second-ring suburb of St. Louis, located in west St. Louis County, Missouri, United States. The city derives its name from Creve Coeur Lake, which is shaped like a broken heart. The population was 17,833 at the 2010 census...
, Missouri
Missouri
Missouri is a US state located in the Midwestern United States, bordered by Iowa, Illinois, Kentucky, Tennessee, Arkansas, Oklahoma, Kansas and Nebraska. With a 2010 population of 5,988,927, Missouri is the 18th most populous state in the nation and the fifth most populous in the Midwest. It...
which operates casino
Casino
In modern English, a casino is a facility which houses and accommodates certain types of gambling activities. Casinos are most commonly built near or combined with hotels, restaurants, retail shopping, cruise ships or other tourist attractions...
s and associated entertainment and lodging facilities in the United States and abroad.
Currently operating 15 casinos in six states across the U.S., as well as a property in the Caribbean, Isle of Capri properties have nearly 2 million visitors each year. These properties have a total of about 15,000 slot machine
Slot machine
A slot machine , informally fruit machine , the slots , poker machine or "pokies" or simply slot is a casino gambling machine with three or more reels which spin when a button is pushed...
s, 400 table games, 3,100 hotel rooms; and three dozen restaurants.
History
The company was founded in 1990 by Bernard GoldsteinBernard Goldstein (casino owner)
Bernard Goldstein was the founder and chairman of Isle of Capri Casinos and is sometimes called the "father of modern riverboat gambling" because he was the first person to run riverboat casinos in the Midwest and South after they became legal in the 1990s.-Early life:He received his undgraduate...
(born 1929) who rolled his two privately held companies Riverboat Corporation of Mississippi and Riverboat Services into a newly named Kana Corporation.
In April 1992 it was renamed Anubis II Corporation. In June 1992 it was renamed again to Casino America, Inc. and began trading on the NASDQ under the ticker symbol
Ticker symbol
A stock symbol or ticker symbol is a short abbreviation used to uniquely identify publicly traded shares of a particular stock on a particular stock market. A stock symbol may consist of letters, numbers or a combination of both. "Ticker symbol" refers to the symbols that were printed on the ticker...
CSNO. In 1995 an announced move to trade to the New York Stock Exchange
New York Stock Exchange
The New York Stock Exchange is a stock exchange located at 11 Wall Street in Lower Manhattan, New York City, USA. It is by far the world's largest stock exchange by market capitalization of its listed companies at 13.39 trillion as of Dec 2010...
. In September 1998 it became Capris Casinos, Inc. and changed its ticker symbol to "ISLE."
Goldstein's first casino operations were in the Quad City area of Iowa
Iowa
Iowa is a state located in the Midwestern United States, an area often referred to as the "American Heartland". It derives its name from the Ioway people, one of the many American Indian tribes that occupied the state at the time of European exploration. Iowa was a part of the French colony of New...
and Illinois
Illinois
Illinois is the fifth-most populous state of the United States of America, and is often noted for being a microcosm of the entire country. With Chicago in the northeast, small industrial cities and great agricultural productivity in central and northern Illinois, and natural resources like coal,...
where Goldstein operated the riverboats Diamond Lady and the Emerald Lady under the corporate name Steamboat Casino Cruises. The two boats which sailed from Bettendorf, Iowa
Bettendorf, Iowa
Bettendorf is a city in Scott County, Iowa, United States. Bettendorf is the fifteenth largest city in the U.S. state of Iowa and the fourth largest city in the "Quad Cities". As of the 2010 United States Census the population grew to 33,217. Bettendorf is one of the Quad Cities, along with...
on April 1, 1991 were the first modern riverboat gambling boats.
Isle of Capri Casinos opened it first casino in Biloxi, Mississippi
Biloxi, Mississippi
Biloxi is a city in Harrison County, Mississippi, in the United States. The 2010 census recorded the population as 44,054. Along with Gulfport, Biloxi is a county seat of Harrison County....
in August 1992, and was the first gaming establishment to trade on the NASDAQ
NASDAQ
The NASDAQ Stock Market, also known as the NASDAQ, is an American stock exchange. "NASDAQ" originally stood for "National Association of Securities Dealers Automated Quotations". It is the second-largest stock exchange by market capitalization in the world, after the New York Stock Exchange. As of...
.
In 2005, its Biloxi casino (but not its hotel) was destroyed and its Lake Charles facilities were damaged by Hurricanes Katrina
Hurricane Katrina
Hurricane Katrina of the 2005 Atlantic hurricane season was a powerful Atlantic hurricane. It is the costliest natural disaster, as well as one of the five deadliest hurricanes, in the history of the United States. Among recorded Atlantic hurricanes, it was the sixth strongest overall...
and Rita
Hurricane Rita
Hurricane Rita was the fourth-most intense Atlantic hurricane ever recorded and the most intense tropical cyclone ever observed in the Gulf of Mexico. Rita caused $11.3 billion in damage on the U.S. Gulf Coast in September 2005...
, respectively.
In August 2006, Isle of Capri Casinos moved its headquarters from Biloxi to St. Louis suburb Creve Coeur, Missouri
Creve Coeur, Missouri
Creve Coeur, derived from French for "heartbreak" , is a second-ring suburb of St. Louis, located in west St. Louis County, Missouri, United States. The city derives its name from Creve Coeur Lake, which is shaped like a broken heart. The population was 17,833 at the 2010 census...
. Missouri had offered $4.2 million in tax incentives to lure the operation. Company officials said they were looking for new headquarters after evacuating their building three times in 2004-05 due to hurricanes.
On February 14, 2006, Isle of Capri sold the Isle of Capri Bossier City and Isle of Capri Vicksburg to Legends Gaming for $240 million. The properties are now known as "Diamond Jack's".
The company competed for a gambling license in the city of Pittsburgh, Pennsylvania
Pittsburgh, Pennsylvania
Pittsburgh is the second-largest city in the US Commonwealth of Pennsylvania and the county seat of Allegheny County. Regionally, it anchors the largest urban area of Appalachia and the Ohio River Valley, and nationally, it is the 22nd-largest urban area in the United States...
in 2006, offering $290 million toward the construction of a new arena for the Pittsburgh Penguins
Pittsburgh Penguins
The Pittsburgh Penguins are a professional ice hockey team based in Pittsburgh, Pennsylvania. They are members of the Atlantic Division of the Eastern Conference of the National Hockey League . The franchise was founded in 1967 as one of the first expansion teams during the league's original...
as an incentive and thus drawing enormous public support in Pittsburgh. The Pennsylvania Gaming Control Board
Pennsylvania Gaming Control Board
The Pennsylvania Gaming Control Board is a governmental agency of the Commonwealth of Pennsylvania, founded in 2004 as the state licensing and regulatory agency responsible for overseeing slot machines and casino gambling in the state....
nevertheless awarded the license to PITG Gaming Majestic Star
The Majestic Star Casino, LLC
The Majestic Star Casino, LLC is a gaming holding company founded in Gary, Indiana by Don H. Barden. Now based in Las Vegas, Nevada, it is the largest black-owned casino operator in the United States and the first and only black-owned casino in Las Vegas, Nevada.As of the end of 2005, the company...
instead, who was required to partially fund the building of the new arena, the Consol Energy Center.
On March 19, 2007 Isle of Capri purchased Casino Aztar in Caruthersville from Columbia Sussex
Columbia Sussex
Columbia Sussex is a private hospitality company based in Crestview Hills, Kentucky. The company, owned by the Yung family, owns and operates hotels in various parts of the United States. , the company operated 73 hotels under 13 different brands. The current president is William J...
for about $45 million. The casino was re-branded Lady Luck Casino on June 10, 2008.
In April, 2007 the Company opened a casino called the Isle Casino & Racing at Pompano Park.
On July 1, 2007 Isle of Capri opened a new property in Waterloo
Waterloo, Iowa
Waterloo is a city in and the county seat of Black Hawk County, Iowa, United States. As of the 2010 United States Census the population decreased by 0.5% to 68,406. Waterloo is part of the Waterloo – Cedar Falls Metropolitan Statistical Area, and is the more populous of the two...
, Iowa
Iowa
Iowa is a state located in the Midwestern United States, an area often referred to as the "American Heartland". It derives its name from the Ioway people, one of the many American Indian tribes that occupied the state at the time of European exploration. Iowa was a part of the French colony of New...
.
In a move to increase brand recognition, all of the companies casinos will be rebranded under the Lady Luck or Isle brands. It has not been determined which casinos will receive which designation, but the company has said that the more local properties will receive the Lady Luck designation.
On April 5, 2010 Isle of Capri and Bally Gaming announced that Isle of Capri would acquire Bally's Rainbow Casino
Rainbow Casino
Rainbow Casino in Vicksburg, Mississippi is a casino with an on property 89 room hotel. The casino is owned and operated by Bally Technologies.- History :The casino was opened in July, 1994 by Bally Technologies....
for $80,000,000.
On June 9, 2010, Isle of Capri Casinos, Inc. completed the acquisition of Rainbow Casino in Vicksburg, Miss. from Bally Technologies, Inc.
On December 1, 2010, the Missouri Gaming Commission awarded the company the state's 13th gaming license for a casino project in Cape Girardeau. The project is expected to include 1,000 slot machines, 28 table games, 3 restaurants, a lounge and terrace overlooking the Mississippi River and a 750-seat event center at an estimated cost of $125 million.
On April 14, 2011, Isle of Capri Casinos Inc. and Nemacolin Woodlands Resort were selected as the recipients of Pennsylvania's last casino resort license by the state's gaming board. Lady Luck Casino Nemacolin is expected to include 600 slot machines, 28 table games, a casual dining restaurant and lounge.
Gaming facilities
- Lady Luck Casino Black Hawk, Black Hawk, ColoradoBlack Hawk, ColoradoThe historic City of Black Hawk is a Home Rule Municipality located in Gilpin County, Colorado, United States. The city population was 118 at U.S. Census 2000, making Black Hawk the least populous city in Colorado...
- Isle Casino Hotel Bettendorf, Bettendorf, IowaIowaIowa is a state located in the Midwestern United States, an area often referred to as the "American Heartland". It derives its name from the Ioway people, one of the many American Indian tribes that occupied the state at the time of European exploration. Iowa was a part of the French colony of New...
- Isle Casino Hotel Black Hawk, Black Hawk, ColoradoColoradoColorado is a U.S. state that encompasses much of the Rocky Mountains as well as the northeastern portion of the Colorado Plateau and the western edge of the Great Plains...
- Isle of Capri Casino Hotel Boonville, Boonville, MissouriMissouriMissouri is a US state located in the Midwestern United States, bordered by Iowa, Illinois, Kentucky, Tennessee, Arkansas, Oklahoma, Kansas and Nebraska. With a 2010 population of 5,988,927, Missouri is the 18th most populous state in the nation and the fifth most populous in the Midwest. It...
- Isle Casino Hotel Biloxi, Biloxi, MississippiMississippiMississippi is a U.S. state located in the Southern United States. Jackson is the state capital and largest city. The name of the state derives from the Mississippi River, which flows along its western boundary, whose name comes from the Ojibwe word misi-ziibi...
- Isle of Capri Casino Kansas City, Kansas City, MissouriMissouriMissouri is a US state located in the Midwestern United States, bordered by Iowa, Illinois, Kentucky, Tennessee, Arkansas, Oklahoma, Kansas and Nebraska. With a 2010 population of 5,988,927, Missouri is the 18th most populous state in the nation and the fifth most populous in the Midwest. It...
- Isle of Capri Casino Hotel Lake Charles, Lake Charles, LouisianaLouisianaLouisiana is a state located in the southern region of the United States of America. Its capital is Baton Rouge and largest city is New Orleans. Louisiana is the only state in the U.S. with political subdivisions termed parishes, which are local governments equivalent to counties...
- Isle of Capri Casino Hotel Lula, Lula, Mississippi
- Lady Luck Casino Marquette, Marquette, IowaIowaIowa is a state located in the Midwestern United States, an area often referred to as the "American Heartland". It derives its name from the Ioway people, one of the many American Indian tribes that occupied the state at the time of European exploration. Iowa was a part of the French colony of New...
- Isle of Capri Casino Hotel Natchez, Natchez, MississippiMississippiMississippi is a U.S. state located in the Southern United States. Jackson is the state capital and largest city. The name of the state derives from the Mississippi River, which flows along its western boundary, whose name comes from the Ojibwe word misi-ziibi...
- Isle Casino Hotel Waterloo, Waterloo, IowaIowaIowa is a state located in the Midwestern United States, an area often referred to as the "American Heartland". It derives its name from the Ioway people, one of the many American Indian tribes that occupied the state at the time of European exploration. Iowa was a part of the French colony of New...
- Isle Casino Racing Pompano Park parimutuelParimutuel bettingParimutuel betting is a betting system in which all bets of a particular type are placed together in a pool; taxes and the "house-take" or "vig" is removed, and payoff odds are calculated by sharing the pool among all winning bets...
horse racingHorse racingHorse racing is an equestrian sport that has a long history. Archaeological records indicate that horse racing occurred in ancient Babylon, Syria, and Egypt. Both chariot and mounted horse racing were events in the ancient Greek Olympics by 648 BC...
track, Pompano Beach, FloridaPompano Beach, FloridaPompano Beach ) is a city in Broward County, Florida, along the coast of the Atlantic Ocean just to the north of Fort Lauderdale. The nearby Hillsboro Inlet forms part of the Atlantic Intracoastal Waterway. As of the 2010 census, the city's population was 99,845... - Lady Luck Casino Caruthersville, Caruthersville, Missouri
- Rainbow Casino, Vicksburg, Mississippi
- Rhythm City Casino, Davenport, IowaDavenport, IowaDavenport is a city located along the Mississippi River in Scott County, Iowa, United States. Davenport is the county seat of and largest city in Scott County. Davenport was founded on May 14, 1836 by Antoine LeClaire and was named for his friend, George Davenport, a colonel during the Black Hawk...
- Isle Casino Cape Girardeau, Cape Girardeau, Missouri
- Lady Luck Casino Nemacolin, Farmington, Pennsylvania