With expansion, out goes Biloxi's Isle of Capri; welcome The Isle

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Message was posted: 02:56 Mar 28th, 2007

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Casino news source: The Sun Herald - http://www.sunherald.com

With expansion, out goes Biloxi's Isle of Capri; welcome The Isle
Associated Press

BILOXI, Miss. - With its $180 million expansion, the Isle of Capri Inc. is shortening its Biloxi casino's name. Welcome, The Isle.

The expansion, when complete in May 2009, will put a casino immediately next to the property's parking garage along with restaurants and bars. It will also allow ballroom and convention space - currently converted into a gambling floor - to go back to its intended use.

Casino executives unveiled the new logo and other details of the expansion in a workshop with the Biloxi City Council on Tuesday.

The council unanimously approved the expansion plan.

Isle executives said they are committed to investing in Biloxi, but they could not provide a timetable for when they might do something with their property on the north side of U.S. 90.

In February, the casino bought more than five acres of Point Cadet property, north of U.S. 90. The purchase price was not disclosed.

The Isle is located on the south side of U.S. 90.

Although the Isle has done master planning for both sides of the highway, its focus has been to get its existing property redeveloped, Greg Guida, a senior vice president with The Isle, said in a http://www.sunherald.com article.

The Isle announced its expansion in January. The company said the project would be largely funded by insurance proceeds from Katrina. Isle of Capri closed for repairs for nearly four months after the Aug. 29, 2005 storm. It reopened with a smaller, temporary casino in December 2005. It was the second coast casino back in business after Katrina.

The new casino will have about 2,100 slot machines, 50 table games and a new poker room.

About 45,000 square feet of convention space that is currently serving as gaming space will be restored to its original use.

The Isle of Capri had the first floating casino on the Mississippi Gulf Coast, opening on Biloxi's Point Cadet in August 1992. In the past year, it sold casinos in Vicksburg and Bossier City, La.

The Isle of Capri in 2006 moved its corporate headquarters from Biloxi to a St. Louis suburb.

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