Company Press Release: Isle of Capri Casinos, Inc.
February 9, 2000
BILOXI, Miss. -- Isle of Capri Casinos, Inc. (Nasdaq: ISLE) announced yesterday that it has entered into a definitive
agreement to acquire certain assets of the Flamingo Hilton Riverboat Casino in Kansas City, MO., from Flamingo
Hilton Riverboat Casino, L.P., a subsidiary of Hilton Hotel Corporation (NYSE: HLT). Completion of the acquisition
is subject to a due diligence review and receipt of all regulatory approvals.
The acquisition includes the casino vessel, parking garage and all related gaming equipment. The purchase price
is $33.5 million, less an adjustment for assumed liabilities.
``With this Midwestern acquisition and our previously announced Lady Luck purchase, Isle of Capri Casinos, Inc.
will grow and diversify to twelve casinos in six states,'' stated Bernard Goldstein, Chairman of the Board and
Chief Executive Officer.
John M. Gallaway, President and Chief Operating Officer, said ``We have always had a strong desire to extend Isle
Style to the State of Missouri. We are looking forward to having the customers and employees experience our brand
of fun and entertainment.''
Isle of Capri Casinos, Inc. owns and operates seven riverboat, dockside and land-based casinos at six locations,
including the Isle of Capri Casino, Crowne Plaza Resort in Biloxi, Mississippi; the Isle of Capri Casino &
Hotel in Vicksburg, Mississippi; the Isle of Capri Casino & Hotel in Bossier City, Louisiana; two riverboats
operating as the Isle of Capri Casino & Hotel in Lake Charles, Louisiana, (through a 57% owned subsidiary)
the Isle of Capri Casino in Black Hawk, Colorado, and the Isle of Capri Casino, Tunica, Mississippi. The Company
also operates Pompano Park Harness Racing Track in Pompano Beach, Florida, and through a joint venture, the Enchanted
Capri cruise ship, that features an Isle of Capri Casino, sailing from New Orleans, Louisiana.
This press release may be deemed to contain forward-looking statements which are subject to change. These forward-looking
statements may be significantly impacted, either positively or negatively, by various factors, including, without
limitation, licensing and other regulatory approvals, financing sources, development and construction activities,
costs and delays, permits, competition and business conditions in the gaming industry. Additional information concerning
potential factors that could affect the Company's financial condition, results of operations and expansion projects,
is included in the filings of the Company with the Securities and Exchange Commission, including, but not limited
to, its Annual Report and its Form 10-K for the fiscal year ended April 25, 1999.
CONTACTS: Allan B. Solomon, Isle of Capri Casinos, Inc., Executive Vice
President, 561.995.6660.
Rex Yeisley, Isle of Capri Casinos, Inc., Chief Financial
Officer, 228.396.7052.
NOTE: Other Isle of Capri Casinos, Inc. press releases and a corporate profile are available by fax at no charge.
For a menu of available Isle of Capri Casinos press releases, call 800.758.5804, ext. 145913 or at http://www.prnewswire.com
. Isle of Capri Casinos, Inc. home page is http://www.theislecorp.com
.
SOURCE: Isle of Capri Casinos, Inc.