Isle of Capri Black Hawk L.L.C., a
joint venture between Isle of Capri
Casinos, Inc. and Nevada Gold &
Casinos, Inc., said last week it will buy
the casino operations of Reno-based
International Game Technology, Inc.
The price, $84 million, is approximately
5.8 times trailing 12 months earnings
before interest, taxes and depreciation.
IGT had previously announced its
plans to sell its Colorado casino operations,
which were acquired as part of the
acquisition of Anchor Gaming in
December 2001.
The Colorado operations consist of the
Colorado Central Station Casino in Black
Hawk, and the Colorado Grande Casino
in Cripple Creek. The transaction is
expected to close this spring.
Isle of Capri Casinos, Inc. owns and
operates 13 riverboat, dockside and landbased
casinos at 12 locations, including
Biloxi, Vicksburg, Lula and Natchez,
Miss.; Bossier City and Lake Charles
(two riverboats), La.; Black Hawk, Colo.;
Bettendorf, Davenport and Marquette,
Iowa; and Kansas City and Boonville,
Mo.
Nevada Gold & Casinos, Inc. of
Houston, Texas is a developer of gaming
properties and has real estate interests in
Colorado, California, and Nevada.
