Also signs agreement to sell non-gaming assets to Casino Holding Investment Partners
Isle of Capri Casinos announces closure of Mississippi property
2015-08-12
Reading time 30 seg
Isle of Capri Casinos, Inc. (ISLE) confirmed that the Company will close its casino property in Natchez, Mississippi, and has entered into a definitive agreement to sell its Natchez hotel and certain related non-gaming assets to Casino Holding Investment Partners, LLC, the parent company of Magnolia Bluffs Casino, for USD 11.5M.
The transaction is expected to close in October 2015, subject to customary closing conditions.
"We are proud of all that we have accomplished together and we thank our team members for their dedication and hard work in the many years we have operated in Natchez," said Virginia McDowell, the Company's president and chief executive officer.
Isle Natchez is expected to remain fully operational until its closure and will honor all room reservations and events until that time.
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