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Isle of Capri Casinos

From Alfawiki
Isle of Capri Casinos, Inc.
Company typePublic
IndustryGaming
PredecessorKana Corporation, Anubis II Corporation, Casino America, Inc.
Founded1990
FounderBernard Goldstein
Defunct2017
FateAcquired by Eldorado Resorts
Headquarters
Creve Coeur
,
United States
Area served
United States
Key people
Bernard Goldstein (founder)
ProductsCasinos, hotel accommodations, dining establishments
ParentEldorado Resorts (from 2017)

Isle of Capri Casinos, Inc. was a gaming enterprise based in Creve Coeur, Missouri, managing 15 casino venues across seven states in the United States. Its facilities welcomed close to 13 million guests each year, offering nearly 14,000 slot machines, 350 table games, 2,300 hotel accommodations, and about thirty-six dining establishments.

History

Established in 1990 by Bernard Goldstein under the name Kana Corporation, the company experienced multiple rebrandings—first to Anubis II Corporation in April 1992, then to Casino America, Inc. in June 1992—before adopting the Isle of Capri Casinos, Inc. identity in September 1998 and listing on NASDAQ as "ISLE."

Goldstein, noted as a pioneering figure in riverboat gambling, initially launched operations with the Diamond Lady and Emerald Lady casino riverboats on the Mississippi River beginning in 1991. The inaugural Isle of Capri casino debuted in Biloxi, Mississippi, in August 1992, becoming the first gaming venue publicly traded on NASDAQ.

In 2000, Isle of Capri completed a $400 million acquisition of Lady Luck Gaming’s casino assets spanning multiple states, including locations in Mississippi and Iowa. This transaction involved cash payments, debt assumption, and preferred stock redemption. The company also gained full control over the Bettendorf property and acquired rights to the Lady Luck brand, subsequently rebranding these casinos under the Isle of Capri banner. The Lady Luck Hotel & Casino in Las Vegas was obtained in 2001 but sold two years later.

Operational setbacks arose when Hurricane Katrina destroyed the Biloxi casino in 2005. This event led to relocating corporate headquarters from Biloxi to Creve Coeur, Missouri, in 2006—facilitated by $4.2 million in tax incentives—to reduce hurricane exposure and ensure operational stability.

In February 2006, Isle divested its casinos in Bossier City and Vicksburg for $240 million. The same year, it submitted a $290 million proposal supporting arena funding while vying for a Pittsburgh gambling license but was outbid by Majestic Star Casino.

Significant acquisitions included Casino Aztar in Caruthersville for $45 million in 2007 and Rainbow Casino in Vicksburg for $80 million in 2010; the latter was rebranded as Lady Luck Casino. In 2008, the company implemented a dual-brand strategy: Isle of Capri for comprehensive resort destinations and Lady Luck for smaller-scale properties.

The Missouri Gaming Commission granted Isle its 13th state license in 2010 to develop a Cape Girardeau casino project valued at approximately $125 million. In 2011, it secured Pennsylvania’s final casino resort license for Lady Luck Casino Nemacolin.

Isle Casino Cape Girardeau opened its doors in October 2012. Later that year, the Biloxi property was sold to Landry's Inc. for $45 million. Lady Luck Casino Nemacolin commenced operations in July 2013.

Early 2014 saw the sale of the Davenport casino, while the Natchez riverfront casino closed by late 2015 due to insufficient patronage; its hotel was subsequently sold to a competitor. In March 2017, ownership of Lady Luck Marquette transferred to Casino Queen.

On May 1, 2017, Isle of Capri Casinos was acquired by Eldorado Resorts, marking its integration into a broader gaming portfolio and ending its status as an independent operator.

Properties

When acquired, Isle of Capri Casinos managed the following venues:

Former

Properties formerly under ownership included:

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