News for the Hospitality Executive
Nemacolin Woodlands Resort Will Apply for Pennsylvania Casino License
FARMINGTON, Pa., Jan. 7, 2010 - Nemacolin Woodlands Resort located in Farmington, Fayette County, Pennsylvania today announced it intends to file an application with the Pennsylvania Gaming Control Board for a resort gaming license. Additionally, Nemacolin Woodlands announced that it has reached a casino management and marketing agreement with Isle of Capri Casinos, Inc. (Nasdaq: ISLE), one of the country's most respected gaming operators, to manage the casino.
Nemacolin Woodlands indicated that it intends to formally apply to the Pennsylvania Gaming Control Board for the remaining Category 3 resort gaming license, as authorized under the 2004 Gaming Act, in the immediate future. Legislation signed into law today by Pennsylvania Governor Rendell made certain changes to the Gaming Act governing the state's resort casinos.
Nemacolin Woodlands President and Owner Maggie Hardy Magerko noted that significant changes made to the parameters of the resort casino license over the past three years; including reduction of the patron amenity expenditure requirement from twenty-five to ten dollars, the addition of more slot machines and the expansion into table games make operating a casino at Nemacolin Woodlands a very attractive opportunity.
"Add to this the management and marketing expertise of Isle of Capri, one of the most recognizable and experienced names in the gaming industry, and we believe we have the best venue in terms of resort amenities and management to effectively and profitably operate a casino," said Hardy Magerko.
The casino would be housed at the resort's Wild Side entertainment complex located at the corner of Route 40 and Smith School Road. The facility formerly was the Woodlands World outdoor store which relocated to downtown Uniontown four years ago.
"We believe Nemacolin Woodlands Resort with our vast array of amenities ranging from the Woodlands Spa, to Mystic Rock Golf Course, to sporting clays, off road course, skiing, fine dining and many other activities offers the premiere resort venue in the state and with the expertise of Isle of Capri will result in a casino that offers a unique experience for our patrons and maximizes the economic benefits for the state," said Hardy Magerko.
Isle of Capri Casinos President and Chief Operating Officer Virginia McDowell noted, "Since we first began our discussions with Nemacolin Woodlands and visited the facility, our team has been convinced that this is the right opportunity in the perfect location to build a resort casino in Pennsylvania. Nemacolin Woodlands is Pennsylvania's premier resort destination, and the plans we are building together will situate the property to produce maximum benefits for the state and the community."
Nemacolin Woodlands Resort is one of North America's premier resort
destinations earning a Forbes Travel Guide (formerly Mobil 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 3,000 acres, the resort features 335 luxurious
guestrooms, suites, townhouses, and private luxury homes, including the
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 -- the Pete Dye designed
Mystic Rock and the traditional Links Course. For additional information,
visit our websites at www.nemacolin.com www.falling-rock.com or call 724-329-8555.
Isle of Capri Casinos, Inc creates value for customers, clients, shareholders and employees by providing regional gaming and leisure experiences matched to customer preferences, focused on operational effectiveness and organic growth for the company's properties. With solid regional diversification across the U.S., Isle of Capri has a seasoned management team who believes in strategic business plan to increase value through strong fiscal discipline and targeted operating strategies.
The Company owns and operates 14 casino properties in six states. Collectively, these properties boast over 15,000 slot machines and nearly 400 table games, over 3,100 hotel rooms and more than three dozen restaurants. The company's properties are in Biloxi, Lula and Natchez, 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.
One of the largest publicly-traded gaming companies in the United States, Isle of Capri is traded on the NASDAQ stock exchange under ticker symbol ISLE. More information is available at the Company's website, www.islecorp.com.
Nemacolin Woodlands Resort
|Also See:||Recession Prompts Nemacolin Woodlands Resort to Reconsider Bid for Casino License from Pennsylvania Gaming Control Board / April 2009|
|Nemacolin Woodlands Reports 23% Increase in Occupied Rooms in the Last Quarter of 2001 and a 17.4% Increase in Revenue Compared to Last Quarter of 2000; Credits Location, Spa / March 2002|