Isle
of Capri Casinos Signs Agreement with Lemieux
Group
Isle of Capri Casinos, Inc.
announced today that the company has signed
a joint development agreement with the Lemieux
Group LP that includes a provision for Isle
to fund a new multi-purpose arena and pursue
a gaming license in Pittsburgh. Other terms
of the agreement have not been disclosed.
"We
look forward to working closely with the Penguins
as well as state and local officials as we move
through the application process. Redevelopment
of the Lower Hill and Uptown Districts will
return the neighborhood to the community, and
funding a new multi-purpose arena will keep
the Penguins in Pittsburgh, making this project
a win/win for the entire community. At the Isle,
we believe that downtown Pittsburgh will become
the best entertainment venue in the region,"
Tim Hinkley, president and chief operating officer,
said.
If
awarded the Pittsburgh gaming license, Isle
of Capri Casinos, Inc. anticipates that the
construction phase of the project would begin
in early 2007, with the prospect of a temporary
casino being a possibility. The transaction
contemplated under the definitive agreement
and development of this project are subject
to certain conditions, including but not limited
to, the receipt of all necessary licenses, approvals
and permits.
Isle
of Capri Casinos, Inc., a leading developer
and owner of gaming and entertainment facilities,
operates 15 casinos in 13 locations. The company
owns and operates riverboat and dockside casinos
in Biloxi, Vicksburg, Lula and Natchez, Mississippi;
Bossier City and Lake Charles (2 riverboats),
Louisiana; Bettendorf, Davenport and Marquette,
Iowa; and Kansas City and Boonville, Missouri.
The company also owns a 57 percent interest
in and operates land-based casinos in Black
Hawk (two casinos), Colorado. Isle of Capri's
international gaming interests include a casino
that it operates in Freeport, Grand Bahama and
a two-thirds ownership interest in casinos in
Dudley, Walsall and Wolverhampton, England.
The company also owns and operates Pompano Park
Harness Racing Track in Pompano Beach, Florida.
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