In Bossier City it’s out with the old and in with the new. The Isle of Capri Casino, which has seen a steady decline in gaming revenue, is set to become Diamond Jacks Casino & Resort – Bossier City at the end of this month. Yesterday the Louisiana Gaming Control Board gave final approval for the sale of the Isle of Capri property to Legends Gaming LLC, a company formed by the founder of the Argosy Casino company, William J McEnery.

The casino will close briefly at 3 a.m. on Monday, 31 July to allow for the changeover, and reopen later that afternoon. Signage is due to be changed this week. Legends is promising employees better benefits and claims to be ‘employee-sensitive’. Patrons will be getting revamped restaurants with upgraded menus, earth tone décor and other improvements. The company told the Louisiana Gaming Control Board that it will retain most of the present hotel and casino employees and that management will involve itself in the Bossier City community.

Diamond Jacks will have some catching up to do in the Louisiana market. In the fiscal year to 30 June 2000 the Isle of Capri Casino was ranked second of Louisiana’s riverboats for gross revenue but by this year, despite a record US$2.38 billion win from gamblers in Louisiana, had dropped to tenth place with only a 5.6% share of the market. Legends is looking to revitalise the whole property and expects to improve income figures.

Part of the US$240 million cash purchase deal announced last February included the sale of the Isle of Capri operation in Vicksburg, Mississippi. The Mississippi Gaming Commission is expected to consider that transaction tomorrow at its regular monthly meeting.
(E-07.19.06)

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