As reported by: KVOA
Isle of Capri Casinos, Inc. announced today that the company has submitted its gaming application to the Pennsylvania Gaming Control Board to pursue a gaming license in Pittsburgh.

Isle of Capri recently signed a joint development agreement with Lemieux Group LP that includes a provision for Isle to fund a $290 million new multi- purpose arena as part of a larger billion dollar effort to redevelop the Lower Hill and Uptown Districts in Pittsburgh. Other terms of the agreement have not been disclosed.

"Last week we announced our relationship with Lemieux Group and today we took the next step in the application process. We look forward to working closely with the Penguins as well as state and local officials as the application process continues," 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 completed in a shorter time period. 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.


Article By: KVOA