Isle of Capri Casinos narrows loss in first quarter
Isle reported revenue of us$ 245.8 million for the three months ended July 24, down 2 % from us$ 251.9 million a year earlier, as the company was forced to close several of its casinos due to flooding.
Flooding along the Mississippi River during the quarter hurt results at the company's properties in Davenport, Iowa; Caruthersville and Lula, Natchez and Vicksburg, Mississippi President and Chief Executive Virginia McDowell said. Each of these casinos was closed at least six days during the quarter and up to 41 days for the Natchez facility.
The company said construction of its us$ 125 million new casino in Cape Girardeau, Mo., is proceeding on time and on budget, wiht a late 2012 opening planned.
According to a recent proxy statement, McDowell is making more than her predecessor. McDowell earned us$ 2.3 million in fiscal 2011 compensation, compared with the previous CEO James Perry's us$ 1.2 million.
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