NATCHEZ — Natchez will become a one-casino town again just shy of three years after it added its second casino.

Isle of Capri Inc. announced Tuesday it would close its dockside casino with 520 slot machines and six table games in Natchez.

Coinciding with the closure will be the sale of the company’s non-gaming assets — notably its hotel property on South Canal Street — to Casino Holding Investment Partners, the parent company of Magnolia Bluffs Casino in Natchez. The property will be sold for approximately $11.5 million, and the deal is expected to close in October.

Isle of Capri officials said the casino facility is expected to remain fully operational until its closure and would honor all room reservations and events until then. Company spokesperson Jill Alexander said future plans for the casino facility are still being determined.

Isle of Capri has approximately 240 employees in Natchez, all of whom Alexander said “are eligible to apply for any opening at Isle properties.”

Magnolia Bluffs Casino President Kevin Preston said Natchez “is just really a one-casino market” and his company is sympathetic to the Isle of Capri and its employees.

“We are going to do our best to do as much hiring as we can with what we have available,” Preston said.

“Between the hotel and the additional guests that we are anticipating, obviously we will need to bump up our employee numbers, which will hopefully be able to help offset some of the job loss that will take place with their closure.”

After the closure, the hotel property will undergo renovations, and Magnolia Bluffs officials said they have the goal of re-opening some floors of the facility in the first quarter of 2016. Work will start in the lobby and first floor of guest rooms.

“We are excited to rebrand the Isle of Capri Hotel and offer the same personalized service and attention we are known for in our casino to the new ‘Magnolia Bluffs’ hotel,” Preston said. “We are committed to delivering the best possible experience to everyone who steps through our door.”

“Our mission always has been, and always will be, to offer an outstanding gaming and entertainment experience along with the latest games, while supporting the Natchez community. Our guests can rest assured that our services will not be disrupted during this transition. We look forward to welcoming Isle of Capri patrons to the Magnolia Bluffs Casino family.”

Preston said Magnolia Bluffs does not have any immediate plans to expand its gaming offerings.

Representatives of the Mississippi Gaming Commission said Tuesday the commission has been working with the companies.

MGC deputy executive director Jay McDaniel said the commission has been working through, “whatever it is the companies want to do.”

McDaniel said no applications for changes or restructuring at either casino have been submitted yet.

“We require plans when ownership changes, submissions for any kind of new structure or anything like that, making sure anything that needs to be approved through the commission is done correctly,” he said. “Typically a company makes a decision, and we help them work through it.”

The Isle of Capri has owned the Natchez property, was previously operated by another company as Lady Luck Casino, since 2000. The casino opened in 1993.

It generated $23 million in revenue in fiscal year 2015, but still ultimately lost $2.1 million, following a $2.4 million loss the previous year. An annual report the company published in June noted that since Magnolia Bluffs opened in December 2012 the Isle of Capri’s gaming revenues in Natchez have declined — even as overall company revenues increased 5 percent in 2015.

According to a market analysis in the Isle of Capri’s 2015 annual report, the Natchez location attracts customers primarily from the 390,000 people who live within 60 miles of the facility.

The Isle of Capri leases approximately 24 acres of land in connection with the Natchez operations, paying an annual rent of approximately $1.1 million. The company also leases approximately 7.5 acres for parking and owns six additional acres and the property in which its hotel is located.

Magnolia Bluffs casino has 500 slot machines and 16 game tables. It has 240 employees and pays the City of Natchez approximately $1 million annually to lease the property on which its land-based facility is located.