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Analysts Still Have Faith in Isle of Capri

30 April 2004

MISSISSIPPI – As reported by the (Biloxi, Mississippi) Sun-Herald: "Gaming analysts said they still have faith in the Isle of Capri because of the company's future projects.

"Jeffries Gaming Research, a New York investment firm, said it's still bullish on Isle of Capri Casinos, even after the casino company said it won't meet its estimated fourth-quarter earnings.

"…The analysts said they believe the Isle will get a license to open a casino in Rosemont, Ill., with access to the rich Chicago market. The company also has expansion projects in the works, such as the 400-room hotel tower that will open in Biloxi next spring and a $75 million upgrade at its Black Hawk, Colo., casino, which Jeffries said should be profitable.

"…The Isle expects to lose between $4.2 million and $6.4 million in the fourth quarter, because of costs associated with refinancing $390 million in old debt…"

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