The Biloxi-based Isle of Capri is to move its corporate headquarters to the St Louis County municipality of Creve Coeur in Missouri, whilst maintaining a regional presence in Biloxi, Mississippi. Around 150 corporate positions will be relocated in a process scheduled to start in early summer. The estimated cost of the relocation will be US$10 million over 8 months. Tim Hinkley, President and Chief Operating Officer for Isle of Capri, says that although the company is moving to Missouri it will continue to support the redevelopment of the Gulf Coast.

In Missouri the Regional Chamber and Growth Association's economist estimates that the move, with its initial 150 employees, will generate a total economic impact of some $36.8 million per year for the region. Isle of Capri will lease approximately 48,000 sq. ft. across three floors at the Creve Coeur Corporate Center located at 600 Emerson Drive, as well as 5,000 sq. ft. of storage space in the building.

The move from Biloxi was mainly motivated by increased hurricane activity in the Gulf of Mexico region over the last two years. Each time company headquarters had to be evacuated the disruption to business was significant. The devastation caused by Hurricane Katrina and the likelihood of continued prolonged and severe hurricane seasons caused Isle of Capri to look for alternative corporate headquarters. (E-01.30.06)

© Copyright 2006 CasinoCompendium



>>> return to archives
>>> return to frontpage