Isle of Capri sale rumors untrue
Published 12:10 am Wednesday, February 25, 2015
NATCHEZ — Despite rumors to the contrary that have circulated the Miss-Lou for the last couple of weeks, the Isle of Capri Casino in Natchez has not been sold to its in-market competition.
Isle of Capri Natchez General Manager Dick Stewart said after hearing the rumors himself, he asked the Isle of Capri’s directors about it at a general manager’s meeting in St. Louis two weeks ago.
“At this time, that rumor is not true because (the company has) to announce it as soon as there is any kind of agreement at all,” Stewart said.
“The Isle of Capri is a publicly traded company, and the second they sign an intent to sell, it has to be posted to all stockholders, of which I am one, and there has been no word at all.”
Stewart said the Isle of Capri property in Natchez could be considered to be up for sale in the sense that most gaming properties could be considered up for sale at any given time.
“Natchez is a very small market, and with the rumor that Magnolia Bluffs wants to buy us, that goes both ways,” he said. “They are interested in buying us and we have been interested in buying them. There is no deal at this point.”
Magnolia Bluffs Casino President Kevin Preston could not be reached for comment Tuesday afternoon.
Magnolia Bluffs Casino began operations in December 2012, splitting what had been a single-casino market for nearly two decades. The property has 580 slot machines and 10 table games.
The Isle of Capri Casino has more than 600 slot and video poker machines and six game tables at its Natchez location, which originally opened as Lady Luck Casino in 1993. The company owns 15 casino properties, including in Lula, Vicksburg and Lake Charles, La.