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Isle of Capri Casinos, Inc. Message Board

  • isletinkerbell isletinkerbell Nov 29, 2012 9:34 AM Flag

    ISLE misses again MANAGEMENT MUST GO Down to $4

    Highlights of today's earnings (loss) report:

    turns out Vicksburg was a very very bad investment. Wasted money and time buying Bally's casino location. BAD MANAGEMENT.

    Severe competition coming to the Natchez property.
    Additional problems at the Lulu property.

    Thinly traded means only one thing, Institutional dump brings PPS below $4.

    In Natchez, our results were impacted by significant weather disruption and damage, where our boat was closed for four days due to a storm that caused meaningful decreased patron count for approximately one month. In addition, the adverse weather conditions damaged each of the three entrances to the facility as well as some infrastructure components. The facility continues to face extraordinarily low river levels, causing our boat to nearly sit on the bottom of the river, which has severely impacted the entrance and overall customer experience. We are committed to mitigating the damage done to our facility, but we expect business to suffer until water levels return to a reasonable level in this section of the Mississippi River. Additionally, pending regulatory approval, a new competitor facility is expected to open in the market before the end of the year.

    In Lula, the market changes that occurred following the flooding in last fiscal year have not improved. The market continues to decline, as customers continue to patronize the facilities in the Memphis and Little Rock areas that benefited from the prior year's flooding. We are pursuing financial improvements through cost savings and operational consolidations.

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14.90-0.01(-0.07%)Apr 29 4:00 PMEDT