News for the Hospitality Executive
Isle of Capri & Nemacolin Woodlands Casino Resort Project
FAYETTE COUNTY, Pa., April 14, 2011-- Isle of Capri Casinos, Inc. (NASDAQ: ISLE) and Nemacolin Woodlands Resort announced today that the Pennsylvania Gaming Control Board has selected their proposed casino project at Nemacolin Woodlands Resort in Fayette County, Pennsylvania, for the state's final available Category 3 resort gaming license.
The casino, Lady Luck Nemacolin, is planned to be fully integrated into the guest experience at Nemacolin Woodlands Resort, and is expected to include 600 slot machines, 28 table games, a casual dining restaurant and lounge. The project is anticipated to cost approximately $50 million which is to be funded by Isle of Capri Casinos. The project is expected to be complete within 9 months of the commencement of construction, which is planned to begin immediately upon the formal issuance of the gaming license.
"In partnership with Nemacolin, we designed a project that would exceed the goals of the Pennsylvania Gaming Act by boosting tourism, creating jobs and boosting state revenues while adding an exciting new amenity to this premier resort," said Paul Keller, Isle's Chief Development Officer. "We appreciate the confidence of the Pennsylvania Gaming Control Board and will remain focused on building a signature Lady Luck Casino that will benefit Fayette County, the entire Laurel Highlands tourism region and the Commonwealth as a whole."
Maggie Hardy Magerko, president and owner of Nemacolin Woodlands Resort, commented, "For over two decades, we have been building a crown jewel of Pennsylvania tourism in Fayette County, and are proud that we are now ranked among the top resorts in the world. The addition of Lady Luck Casino will give our guests an important new amenity that, we believe, will allow us to attract new guests to Pennsylvania from all over the country and world. This project stands to uniquely benefit the Pennsylvania tourism industry, and we are excited to get to work with our partner, Isle of Capri, in making our vision into an outstanding reality."
Located in Fayette County, Pennsylvania, Nemacolin Woodlands is one of North America's premier resort destinations, earning a Forbes Travel Guide Four-Star rating and a AAA Four Diamond Rating. Nemacolin Woodlands has also been honored as one of Travel + Leisure magazine's 500 Best Hotels in the World. Situated on over 2,000 acres, the resort features 335 luxurious guestrooms, suites, townhouses, and private luxury homes, including the Forbes Travel Five-Star and AAA Five Diamond Falling Rock boutique hotel and clubhouse. In addition to the internationally acclaimed Woodlands Spa, the resort features the AAA Five Diamond and Forbes Travel Guide Five Star Lautrec Restaurant and offers 36 holes of golf on two championship courses.
For more information about the project, visit www.winatnemacolin.com.About Isle of Capri Casinos, Inc.
Isle of Capri Casinos, Inc., founded in 1992, is dedicated to providing its customers with an exceptional gaming and entertainment experience at each of its 15 casino properties. The Company owns and operates casinos domestically in Biloxi, Lula, Natchez and Vicksburg, Mississippi; Lake Charles, Louisiana; Bettendorf, Davenport, Marquette and Waterloo, Iowa; Boonville, Caruthersville and Kansas City, Missouri; two casinos in Black Hawk, Colorado; and a casino and harness track in Pompano Beach, Florida. The company also has a casino under construction in Cape Girardeau, Missouri which is planned to open in late 2012. More information is available at the Company's website, www.islecorp.com.
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.
Isle of Capri Casinos, Inc.
Woodlands Resort Will Apply for Pennsylvania Casino License /
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