Due to pull out of The Bahamas on 1 June 2007, Isle of Capri Casinos has announced that it has reached an agreement with government officials to continue the operation of its casino at Our Lucaya in Freeport, Grand Bahama. Tim Hinkley, president and chief operating officer, said his company appreciated the efforts made by the Ministry of Tourism, the Gaming Board, the Hotel Corporation and government officials in working to complete the agreement.

He commented, “Isle of Capri will remain in Freeport welcoming guests to this wonderful island get-away. Our team members will continue to be a part of the Isle of Capri family welcoming guests to our casino and providing an experience complete with Las Vegas-style action and excitement."

In the UK Isle of Capri has invested around US$70 million in a casino at the Ricoh Arena in Coventry. Originally planned as a super casino, in those rosy days when market forces would limit casino numbers, it would have been the first such venue to open. The space was allocated, the design planned and a casino licence obtained under the old gaming law. Following its failure to win the bid for the UK’s only super casino, the 6 July opening is now for a much smaller operation.

It will still be the biggest casino in Britain for the moment, and have restaurants, bars, a private gaming room and a spectacular entrance with huge waterfalls. The recent tax hikes on gaming revenue, announced by Chancellor Gordon Brown, means that expansion with a hotel and some local projects will have to be curtailed. Starting tax has risen from 2.5% to 15% and top tax to 50%. The company states that it has, however, remained loyal to its commitment to Coventry.

Isle of Capri owns and operates casinos in Biloxi, Lula and Natchez, Mississippi; Lake Charles, Louisiana; Bettendorf, Davenport and Marquette, Iowa; Kansas City and Boonville, Missouri and a casino and harness track in Pompano Beach, Florida. The Company also operates and has a 57 percent ownership interest in two casinos in Black Hawk, Colorado.

Isle of Capri Casinos' international gaming interests include a casino that it operates in Freeport, Grand Bahama and a two-thirds ownership interest in casinos in Dudley and Wolverhampton. A new casino and hotel in Waterloo, Iowa, is being developed as well as the casino in Coventry. The Company has also signed an agreement to acquire a casino in Caruthersville, Missouri. (E-05.01.07)

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