- American City Business Journals•15 days ago
Isle of Capri Casinos Inc. said Thursday it has agreed to sell its Lady Luck Casino Marquette in Iowa to an affiliate of CQ Holdings, parent company of the Casino Queen in East St. Louis, for $40 million in cash. Under the deal, Swansea, Illinois-based CQ Holdings Co. Inc. will buy the Iowa casino for what represents 7.5 times the trailing 12 months adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) through the first quarter of fiscal 2017, which ended in April, Isle officials said. Casino Queen, one of St. Louis' largest privately held companies with 2015 revenue of $120 million , is owned by its employees through CQ Holdings Inc. Company officials say Casino Queen is the nation's first and only 100 percent employee-owned casino.
- PR Newswire•15 days agoIsle of Capri Casinos, Inc. Enters into Agreement to Sell Lady Luck Casino Marquette to Casino Queen
ST. LOUIS, Oct. 13, 2016 /PRNewswire/ -- Isle of Capri Casinos, Inc. (ISLE) announced today that it has entered into a definitive agreement to sell Lady Luck Casino Marquette to an affiliate of Casino Queen ("CQ"), based in Swansea, Illinois. Under the terms of the agreement, CQ Holdings Company, Inc. will purchase Lady Luck Casino Marquette for cash consideration of approximately $40.0 million subject to a customary working capital adjustment. The consideration represents 7.5x the trailing-twelve months Adjusted EBITDA through the first quarter of fiscal 2017.
Isle of Capri Casinos, Inc. (ISLE)
NasdaqGS - NasdaqGS Real Time Price. Currency in USD
|Bid||10.12 x 100|
|Ask||22.25 x 100|
|Day's Range||21.00 - 21.19|
|52wk Range||10.62 - 23.32|
|1y Target Est||N/A|
Trade prices are not sourced from all markets
|P/E Ratio (ttm)||16.32|
|Avg Vol (3m)||435,333|
|Dividend & Yield||N/A (N/A)|