FOR IMMEDIATE RELEASE:
January 7, 2010
NEMACOLIN WOODLANDS INTENDS TO APPLY FOR PA CASINO LICENSE;
ISLE OF CAPRI CASINOS TO MANAGE NEW FACILITY
FARMINGTON, PA, JANUARY 7, 2010 – Nemacolin Woodlands Resort located in Farmington, Fayette County, Pennsylvania today announced it intends to file an application with the Pennsylvania Gaming Control Board for a resort gaming license. Additionally, Nemacolin Woodlands announced that it has reached a casino management and marketing agreement with Isle of Capri Casinos, Inc. (NASDAQ: ISLE), one of the country’s most respected gaming operators, to manage the casino.
Nemacolin Woodlands indicated that it intends to formally apply to the Pennsylvania Gaming Control Board for the remaining Category 3 resort gaming license, as authorized under the 2004 Gaming Act, in the immediate future. Legislation signed into law today by Pennsylvania Governor Rendell made certain changes to the Gaming Act governing the state’s resort casinos.
Nemacolin Woodlands President and Owner Maggie Hardy Magerko noted that significant changes made to the parameters of the resort casino license over the past three years; including reduction of the patron amenity expenditure requirement from twenty-five to ten dollars, the addition of more slot machines and the expansion into table games make operating a casino at Nemacolin Woodlands a very attractive opportunity.
“Add to this the management and marketing expertise of Isle of Capri, one of the most recognizable and experienced names in the gaming industry, and we believe we have the best venue in terms of resort amenities and management to effectively and profitably operate a casino,” said Hardy Magerko.
The casino would be housed at the resort’s Wild Side entertainment complex located at the corner of Route 40 and Smith School Road. The facility formerly was the Woodlands World outdoor store which relocated to downtown Uniontown four years ago.
“We believe Nemacolin Woodlands Resort with our vast array of amenities ranging from the Woodlands Spa, to Mystic Rock Golf Course, to sporting clays, off road course, skiing, fine dining and many other activities offers the premiere resort venue in the state and with the expertise of Isle of Capri will result in a casino that offers a unique experience for our patrons and maximizes the economic benefits for the state,” said Hardy Magerko.
Isle of Capri Casinos President and Chief Operating Officer Virginia McDowell noted, “Since we first began our discussions with Nemacolin Woodlands and visited the facility, our team has been convinced that this is the right opportunity in the perfect location to build a resort casino in Pennsylvania. Nemacolin Woodlands is Pennsylvania’s premier resort destination, and the plans we are building together will situate the property to produce maximum benefits for the state and the community.”
Isle of Capri Casinos, Inc creates value for customers, clients, shareholders and employees by providing regional gaming and leisure experiences matched to customer preferences, focused on operational effectiveness and organic growth for the company’s properties. With solid regional diversification across the U.S., Isle of Capri has a seasoned management team who believes in strategic business plan to increase value through strong fiscal discipline and targeted operating strategies.
The Company owns and operates 14 casino properties in six states. Collectively, these properties boast over 15,000 slot machines and nearly 400 table games, over 3,100 hotel rooms and more than three dozen restaurants. The company’s properties are in Biloxi, Lula and Natchez, Mississippi; Lake Charles, Louisiana; Bettendorf, Davenport, Marquette and Waterloo, Iowa; Boonville, Caruthersville and Kansas City, Missouri; two casinos in Black Hawk, Colorado; and a casino and harness track in Pompano Beach, Florida.
One of the largest publicly-traded gaming companies in the United States, Isle of Capri is traded on the NASDAQ stock exchange under ticker symbol ISLE. More information is available at the Company’s website, www.islecorp.com.
This press release may be deemed to contain forward-looking statements, which are subject to change. These forward-looking statements may be significantly impacted, either positively or negatively by various factors, including without limitation, licensing, and other regulatory approvals, financing sources, development and construction activities, costs and delays, weather, permits, competition and business conditions in the gaming industry. The forward-looking statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from those expressed in or implied by the statements herein.
Additional information concerning potential factors that could affect the Company's financial condition, results of operations and expansion projects, is included in the filings of the Company with the Securities and Exchange Commission, including, but not limited to, its Form 10-K for the most recently ended fiscal year.
For Nemacolin Woodlands Resort,
Jeff Noberts, VP Marketing & Public Relations, 724-228-8820 x 1585, [email protected]
For Isle of Capri Casinos, Inc.,
Dale Black, Chief Financial Officer, 314.813.9327, [email protected];
Jill Haynes, Sr. Director Corporate Communication, 314.813.9368, [email protected]