| Isle of Capri Selected for 10th Casino License in Illinois |
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Illinois - PRNewswire- 3/15/04- Isle of Capri Casinos, Inc. officials announced today that the company has been selected by the Illinois Gaming Board as the successful bidder for the 10th Illinois gaming license. The company was selected by the gaming board after bidding $518 million at a bankruptcy auction held last week. Isle of Capri's project will be located on a nine-acre site in the Village of Rosemont, located next to Chicago's O'Hare International Airport, in close proximity to the one million square foot Stephens convention center, and near the over 6,000 hotel rooms located in the Village. Isle of Capri expects to spend an additional $150 million on the project, in addition to amounts already expended at the site. The site has an existing parking garage and infrastructure, including a basin and barge. The company's project includes constructing a single level 40,000 square foot casino, with 1,200 gaming positions, four of its signature restaurants, a 12,000 square foot entertainment venue, and 7,500 square feet of retail space. Isle of Capri will own 80 percent of its Rosemont subsidiary, with the remaining 20 percent to be owned by qualified minority investors, as required by statute. |
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