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Closing of the casino Isle of Capri Natchez - Mississippi
Isle of Capri Casinos decided to close the doors of its casino in Natchez, a city in the State of Mississippi on the banks of the river. The director of Isle of Capri, Virginia McDowell, said on Tuesday in a press release that decision. The Isle of Capri Casino is one of the 18 casinos along the Mississippi River between the cities of Tunica and Natchez. Since 2000, the casino proposed 520 slot machines and six table games. After many years of operation, the Natchez gambling establishment will be closed while the hotel and some non-gaming casino shares were sold for $ 11.5 million to Casino Holding Investment Partners, the owner of Magnolia Bluffs Casino. The transaction should be finalized by October 2015, if the customary closing conditions are well followed.
During the fiscal year 2014-2015, the Isle of Capri Casino Natchez generated a turnover of $ 23 million. In a statement in June, the management board announced that the income of Isle of Capri Casino in Natchez declined since the opening of Magnolia Bluffs Casino in late 2012, while the total turnover of the company knows a growth of 5% in 2015. As a reminder, Isle of Capri Casinos rents a 9.71 ha area in Natchez as part of its operations, a ground lease of approximately $ 1.1 million per year. The deputy director of the Mississippi Gaming Commission, Jay McDaniel, also said that no request for change of ownership or restructuring has been submitted until now.
Source: Oliver JOHNSON
Wednesday, 19 August 2015
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