Gaming News

Isle of Capri announces plans to end operations in the Bahamas

FREEPORT, Grand Bahama -- As reported by Bahama Islands info: "Isle of Capri Casinos Inc, parent of the Isle of Capri Casino operation at Our Lucaya in Grand Bahama released its fiscal 2009 third quarter results today. In that report the company confirmed its plans to cease operations in the Bahamas in their ongoing efforts to reduce operating costs and streamline the business.

"...The company's executive vice chairman and chief executive officer James B. Perry said in the statement that Isle of Capri is focused on improving its domestic operations and implementing a strategic plan.

"...The exact timing has not yet been made clear but it appears to be imminent, as early as the end of May 2009.

"The Bahamas property has experienced declining profitability ...attributed to ...slowing tourism ...since the double hurricanes of 2004 damaged the infrastructure of the island..."

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