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Isle of Capri releases second-quarter earnings

Friday, November 30, 2012

Glenda Banks plays the penny slots Oct. 30, on opening day of Isle Casino Cape Girardeau.
(Laura Simon)
Isle Of Capri Casinos Inc., the company that built and owns Isle Casino Cape Girardeau, announced second-quarter earnings results Thursday, but revenue from the company's newest operation was not included because of the opening date of the casino falling shortly after the end of the quarter.

Earnings from the casino, which opened Oct. 30, will be reported by the company after the third quarter. The second quarter ended Oct. 28.

Dale Black, chief financial officer for Isle of Capri, said in a conference call Thursday that loss per share for continuing operations for the quarter was 11 cents, which was affected by $2.7 million in pre-opening costs in Cape Girardeau and about $2.5 million in costs associated with a subordinated note offering from the company in July.

"Cape is ramping up to our expectations and we are looking forward to introducing the property to the investment community next week," said Virginia McDowell, president and chief executive officer of Isle of Capri.

McDowell congratulated and thanked the staff of the Cape Girardeau casino.

Several issues at the company's Mississippi properties, including disruption at one casino caused by construction and a temporary closure because of storm damage at another, caused a decline in revenue, according to McDowell.

Without the Cape Girardeau opening and other costs, according to a news release, the earnings per share would have been even.

Net revenue decreased $8.2 million during the period, to $223.2 million.

Pertinent address:

777 N. Main, Cape Girardeau, Mo.

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money that could of been spent on other things.

-- Posted by bagman75 on Thu, Nov 29, 2012, at 9:07 PM

Money that WOULD have been spent somewhere else if it hadn't been spent in Cape and contributing to our economy. Its here, and appears to be very successful. Get over it.

-- Posted by foxtrot007 on Fri, Nov 30, 2012, at 8:29 AM

Spent on what? The casino is here. GET OVER IT!

-- Posted by Bman69 on Fri, Nov 30, 2012, at 8:36 AM

Love the 777 Address.

I don't love how dark Broadway is after all the 'upgraded' lighting was installed. Doesn't 'feel' all that safe.

-- Posted by bbollmann on Fri, Nov 30, 2012, at 10:37 AM

if its so good for cape why is the county fixing to raise taxes again with a use tax.

that money is leaving cape not staying here.

-- Posted by bagman75 on Sun, Dec 2, 2012, at 11:25 PM

If you guys had READ the story you would know that these numbers don't even include our casino. These are the corporate earnings numbers.

-- Posted by Day-Glo-Dago on Tue, Feb 12, 2013, at 11:50 AM

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Map of pertinent addresses