Isle of Capri Casinos
Former American casino operator that developed and managed riverboat, land-based, racetrack and resort casinos before being acquired by Eldorado Resorts in 2017.
Last updated August 26, 2026
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Overview
Isle of Capri Casinos was an American gaming and hospitality company headquartered in Creve Coeur, Missouri, in the St. Louis area. The company operated casinos and related hotels, restaurants, entertainment venues, convention facilities and racing properties in the United States. At the time of its acquisition, its portfolio included properties under both the Isle Casino and Lady Luck Casino names. The business originated with Bernard Goldstein, a riverboat-gaming entrepreneur associated with the early revival of casino boats on the Mississippi River. The corporate entity was formed in 1990 as Kana Corporation, renamed Anubis II Corporation in April 1992 and Casino America, Inc. in June 1992. Casino America began publicly trading on NASDAQ in 1992 under the symbol CSNO. In September 1998, it adopted the Isle of Capri Casinos name and the ISLE ticker. Its early operations were concentrated in the Quad Cities region of Iowa and Illinois. Goldstein operated the Diamond Lady and Emerald Lady from Bettendorf, Iowa, and the company subsequently expanded into markets including Mississippi, Missouri, Louisiana, Iowa, Colorado, Florida and Pennsylvania. The operating model combined gaming with lodging, food and beverage, entertainment and, at selected properties, horse racing. The company reported a broad national portfolio with approximately 15 casinos, nearly 13 million annual visitors, about 14,000 slot machines, 350 table games, 2,300 hotel rooms and roughly three dozen restaurants at its larger scale. A major expansion occurred in 2000, when Isle of Capri acquired the Lady Luck Gaming chain and related assets in a transaction involving cash, assumed debt, preferred-stock redemption and separate purchases of the Bettendorf interest and Lady Luck trademark rights. The acquisition brought properties in Mississippi and Iowa and was followed by the purchase of the Lady Luck Hotel & Casino in Las Vegas. Most of the acquired Lady Luck properties were later converted to the Isle of Capri brand, although the company revived Lady Luck in 2008 as a second banner for smaller, more limited-service casinos. Natural disasters materially affected the business. Hurricane Katrina destroyed the company’s Biloxi casino in 2005, while Hurricane Rita damaged its Lake Charles facilities. Repeated hurricane evacuations helped prompt the relocation of the corporate headquarters from Biloxi to Creve Coeur in 2006; Missouri offered tax incentives connected with the move. During the following decade, the company continued to reshape its portfolio through acquisitions, new openings and divestitures. It acquired the former Casino Aztar in Caruthersville, Missouri, opened or developed properties in Pompano Beach, Waterloo and Cape Girardeau, and obtained a Pennsylvania resort-casino license in partnership with Nemacolin Woodlands Resort. The company also exited a number of underperforming or non-core properties. It sold casinos in Bossier City, Vicksburg, Biloxi, Davenport and Marquette, and closed its Natchez, Mississippi riverfront casino in 2015 because of low patronage. Isle of Capri Casinos ceased to operate as an independent public company when Eldorado Resorts completed its acquisition on May 1, 2017. Its former properties and brands subsequently became part of Eldorado’s casino portfolio, although individual properties and names could later change ownership or branding.
History
Isle of Capri Casinos developed from Bernard Goldstein’s early riverboat-gaming activities in the Quad Cities. The corporate entity was established in 1990 as Kana Corporation and went through two name changes in 1992 before becoming Casino America, Inc. The company began public trading on NASDAQ in 1992 and opened its first Isle of Capri casino in Biloxi, Mississippi, in August of that year. Its early riverboat operations included the Diamond Lady and Emerald Lady, which sailed from Bettendorf, Iowa. In 1998, Casino America adopted the Isle of Capri Casinos name and changed its trading symbol to ISLE. The company expanded through a combination of riverboat casinos, dockside operations, hotels and entertainment facilities. Its largest strategic transaction came in 2000, when it acquired Lady Luck Gaming assets and related trademark and ownership interests. The deal added casinos in Mississippi and Iowa and was followed by the purchase of the Lady Luck Hotel & Casino in Las Vegas. Although several Lady Luck properties were initially rebranded as Isle of Capri casinos, the company later restored Lady Luck as a distinct banner for smaller-format operations. The company’s portfolio and finances were affected by severe Gulf Coast hurricanes in 2005. Hurricane Katrina destroyed its Biloxi casino, while Hurricane Rita damaged its Lake Charles facilities. After repeated evacuations, the company moved its headquarters from Biloxi to Creve Coeur, Missouri, in 2006. It continued to adjust its portfolio through property sales and selective development, including the acquisition of Casino Aztar in Caruthersville, the opening of a racing and casino property in Pompano Beach, the development of a casino in Waterloo and the construction of Isle Casino Cape Girardeau. Isle of Capri also pursued expansion in regulated gaming jurisdictions. In Pennsylvania, it and Nemacolin Woodlands Resort were selected in 2011 for the state’s final casino resort license. Lady Luck Casino Nemacolin opened in 2013. Elsewhere, the company sold or closed properties when market conditions were unfavorable, including the sale of its Biloxi operation, the closure of the Natchez casino and the sale of the Davenport and Marquette properties. Eldorado Resorts announced its intention to acquire Isle of Capri in 2016 and completed the transaction on May 1, 2017. The acquisition ended Isle of Capri Casinos as a standalone listed company and transferred its properties and operating brands into Eldorado’s business.
- 2017
Acquired by Eldorado Resorts
[1]Eldorado Resorts completed its acquisition of Isle of Capri Casinos, ending the company’s independent operation.
- 2013
Nemacolin casino opened
[1]Lady Luck Casino Nemacolin opened in Pennsylvania.
- 2012
Cape Girardeau property opened
[1]Isle Casino Cape Girardeau opened to the public in Missouri.
- 2008
Two-brand strategy introduced
[1]Isle of Capri retained its name for larger full-service properties and revived Lady Luck for smaller casinos.
- 2006
Headquarters moved to Missouri
[1]The company relocated its headquarters from Biloxi to Creve Coeur, Missouri.
- 2005
Gulf Coast properties affected by hurricanes
[1]Hurricane Katrina destroyed the Biloxi casino, while Hurricane Rita damaged the Lake Charles facilities.
- 2000
Lady Luck Gaming assets acquired
[1]The company completed a multi-part acquisition involving Lady Luck casinos, debt, preferred stock, the Bettendorf interest and Lady Luck trademark rights.
- 1998
Isle of Capri name adopted
[1]Casino America changed its corporate name to Isle of Capri Casinos, Inc. and adopted the ISLE ticker.
- 1992
Public casino company established
[1]After becoming Casino America, Inc., the company began trading on NASDAQ and opened its first Isle of Capri casino in Biloxi, Mississippi.
- 1990
Corporate predecessor founded
[1]Bernard Goldstein founded the company as Kana Corporation.
Products and positioning
A regional and multi-state casino operator combining gaming with lodging, dining, entertainment and selected racing facilities. The Isle Casino name generally represented larger full-service properties, while the revived Lady Luck banner was used for smaller casinos with fewer amenities.
Casino and resort brand · 1992
Isle Casino
The principal full-service operating brand of Isle of Capri Casinos. Isle Casino properties typically combined slot machines and table games with hotels, restaurants, lounges, entertainment, event space and other resort amenities. Properties operated under the name included casinos in Bettendorf, Black Hawk, Cape Girardeau, Waterloo, Pompano Beach, Boonville, Kansas City and Lula.
Casino brand · 2000
Lady Luck Casino
A casino banner acquired through the Lady Luck Gaming transaction and later revived in 2008 as the company’s smaller-format brand. Lady Luck properties generally offered gaming with more limited lodging, dining and entertainment amenities than the larger Isle Casino resorts. Locations included Caruthersville, Nemacolin, Vicksburg, Black Hawk and Marquette at different times.
Casino and harness-racing facility · 2007
Isle Casino Racing at Pompano Park
A Pompano Beach, Florida property combining casino gaming with harness racing and related entertainment. It extended the company’s operating model beyond conventional casino resorts into a regulated racing venue.
Brand decisions
2016
Agreement to be acquired by Eldorado ResortsM&ABackground
Isle of Capri pursued a transaction that would combine its casino portfolio with Eldorado Resorts.
Action taken
The companies announced the acquisition, which Eldorado completed on May 1, 2017.
Aftermath
Isle of Capri ceased to exist as an independent publicly traded casino operator.
2008
Adoption of a two-brand portfolio strategyStrategyBackground
The company operated properties with different levels of lodging, dining, entertainment and other amenities.
Action taken
It retained Isle of Capri for larger full-service facilities and revived Lady Luck for smaller casinos with more limited amenities.
Aftermath
Marquette and Caruthersville were among the first properties rebranded under the Lady Luck name.
Sources1 sources
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