ST. LOUIS, March 13, 2017 /PRNewswire/ -- Isle of Capri
Casinos, Inc. (NASDAQ: ISLE) announced today it has completed the
previously announced sale of its Marquette, Iowa, property to an affiliate of
Casino Queen ("CQ"), based in Swansea,
Illinois.
Isle also announced that it has called for redemption
$50 million aggregate principal
amount of its outstanding 5.875% Senior Notes due 2021 (the
"Notes") at a redemption price of 102.938% of the principal amount
thereof (or $1,029.38 per
$1,000 principal amount of redeemed
Notes) together with accrued and unpaid interest thereon to the
redemption date, which will occur on April
11, 2017. The Company will finance the redemption with
proceeds from the sale described above, available cash and
borrowings under its credit facility. Following the
redemption, $450 million aggregate
principal amount of Notes will remain outstanding.
This announcement is not an offer to purchase or a solicitation
of an offer to sell any securities and shall not constitute a
notice of redemption under the indenture governing the Notes. Such
notice is being made in accordance with the provisions of such
indenture.
About Isle of Capri Casinos, Inc.
Isle of Capri Casinos, Inc. is a leading regional gaming and
entertainment company dedicated to providing guests with an
exceptional experience at each of the 13 casino properties that it
owns or operates, primarily under the Isle and Lady Luck
brands. On September 19, 2016,
Eldorado Resorts, Inc. and Isle of Capri Casinos, Inc. announced
that they have entered into a definitive merger agreement whereby
Eldorado will acquire all of the
outstanding shares of Isle of Capri. The Company currently
operates gaming and entertainment facilities in Mississippi, Louisiana, Iowa, Missouri, Colorado, Florida and Pennsylvania. More information is available at
the Company's website, www.islecorp.com.
Forward-Looking Statement
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, weather,
permits, competition and business conditions in the gaming
industry. The forward-looking statements are subject to numerous
risks and uncertainties that could cause actual results to differ
materially from those expressed in or implied by the statements
herein.
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 Form 10-K for the most recently ended fiscal year.
CONTACTS:
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Isle of Capri
Casinos, Inc.,
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Jill Alexander,
Senior Director, Corporate Communications -314.813.9368
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NOTE: Other Isle of Capri Casinos, Inc. press releases and
a corporate profile are available at
http://www.prnewswire.com. Isle of Capri Casinos, Inc.'s home
page is http://www.islecorp.com.
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SOURCE Isle of Capri Casinos, Inc.