Bet Know

CARUTHERSVILLE, Mo., June 10 /PRNewswire-FirstCall/ — Isle of Capri Casinos, Inc. (the “Company”) marked a significant milestone in the implementation of the Company’s new strategic plan today, when the former casino Aztar in Caruthersville, Mo., was re-branded as the Company’s first Lady Luck casino.
The re-introduction of the Lady Luck brand is part of the Company’s overall strategic plan, focused on increasing free cash flow through organic growth opportunities and matching customer desires to casino products. The casino was acquired in 2007 from Aztar Corporation.
Virginia McDowell, the Company’s president and chief operating officer, was on hand in Caruthersville and said, “Customer research overwhelmingly showed us that our patrons were interested in the re-introduction of the Lady Luck brand, and we are delivering. While the changes we have made at the Caruthersville property today are relatively small, they are the beginning of a larger effort over the next year to create a better experience for our customers, including renovations to the entertainment lounge and restaurant.”
Isle of Capri Casinos, Inc., founded in 1992, is dedicated to providing its customers with an exceptional gaming and entertainment experience at each of its 18 casino properties. The Company owns and operates casinos in Biloxi, Lula and Natchez, Mississippi; Lake Charles, Louisiana; Bettendorf, Davenport, Marquette and Waterloo, Iowa; Boonville, Caruthersville, Kansas City, Missouri; two casinos in Black Hawk, Colo.; and a casino and harness track in Pompano Beach, Florida. Isle of Capri Casinos’ international gaming interests include a casino that it operates in Freeport, Grand Bahama, a casino in Coventry, England, and a two-thirds ownership interest in casinos in Dudley and Wolverhampton, England.
This press release may be deemed to contain forward-looking statements, which are subject to change. These forward-looking statements may be significantly impacted, either positively or negatively by various factors, including without limitation, licensing, and other regulatory approvals, financing sources, development and construction activities, costs and delays, weather, permits, competition and business conditions in the gaming industry. The forward-looking statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from those expressed in or implied by the statements herein.
Additional information concerning potential factors that could affect the Company’s financial condition, results of operations and expansion projects, is included in the filings of the Company with the Securities and Exchange Commission, including, but not limited to, its Form 10-K for the most recently ended fiscal year.
CONTACTS:
Isle of Capri Casinos, Inc.,
Dale Black, Chief Financial Officer-314.813.9327
Allan B. Solomon, Executive Vice President-561.995.6660
Jill Haynes, Senior Director of Corporate Communication-314.813.9368

NOTE: Other Isle of Capri Casinos, Inc. press releases and a corporate profile are available at . Isle of Capri Casinos, Inc.’s home page is .
Isle of Capri Casinos, Inc.

Tags: Entertainment by admin
No Comments »

AURORA, ON, April 25 /PRNewswire-FirstCall/ — Magna Entertainment Corp. (”MEC” or the “Company”) (NASDAQ: MECA; TSX: MEC.A) today announced its response to a decision this afternoon of the Oregon Racing Commission (”ORC”) to reject a proposed order by the Office of Administrative Hearings (”OAH”) approving the offering of Instant Racing at Portland Meadows, MEC’s thoroughbred racetrack located in Portland, Oregon.
Instant Racing is a form of pari-mutuel wagering processed through a standard totalisator terminal, where the patron wagers on previously-run horse races. In 2003, the ORC, following testimony, public input and advice from the Oregon Attorney General, adopted rules authorizing Instant Racing. In 2006, the ORC approved the request of MEC to offer Instant Racing at Portland Meadows. As a result, MEC invested substantial capital at Portland Meadows to improve the facility and purchase Instant Racing terminals. On September 20, 2007, the ORC, on the advice of the Attorney General, reversed its position and denied a request by MEC to offer Instant Racing under its race meet license. On October 8, 2007 the Company requested a hearing contesting this reversal, which resulted in the OAH issuing an order on February 27, 2008 in favor of offering Instant Racing at Portland Meadows. The decision today by the ORC overturns this order.
Over the past several years, MEC has worked conscientiously and in good faith with the ORC in an attempt to improve the long-term viability of horse racing at Portland Meadows, including through the introduction of Instant Racing. MEC is very disappointed with the actions of both the Oregon Attorney General and the ORC, and is considering all of its legal options with respect to this matter.
MEC, North America’s largest owner and operator of horse racetracks, based on revenue, acquires, develops, owns and operates horse racetracks and related pari-mutuel wagering operations, including off-track betting facilities. MEC also develops, owns and operates casinos in conjunction with its racetracks where permitted by law. MEC owns and operates AmTote International, Inc., a provider of totalisator services to the pari-mutuel industry, XpressBet(R), a national Internet and telephone account wagering system, as well as MagnaBet(TM) internationally. Pursuant to joint ventures, MEC has a fifty percent interest in HorseRacing TV, a 24-hour horse racing television network and TrackNet Media Group, LLC, a content management company formed for distribution of the full breadth of MEC’s horse racing content.
This press release contains “forward-looking statements” within the meaning of applicable securities legislation, including Section 27A of the United States Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the United States Securities Exchange Act of 1934, as amended (the “Exchange Act”) and forward-looking information as defined in the Securities Act (Ontario) (collectively referred to as forward-looking statements). These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and the Securities Act (Ontario) and include, among others, statements regarding our further consideration of our legal options as a result of the action of the Oregon Racing Commission to reject the proposed order of the Office of Administrative Hearings and other matters that are not historical facts.
Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such performance or results will be achieved. Undue reliance should not be placed on such statements. Forward-looking statements are based on information available at the time and/or management’s good faith assumptions and analyses made in light of our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances and are subject to known and unknown risks, uncertainties and other unpredictable factors, many of which are beyond the Company’s control, that could cause actual events or results to differ materially from our forward-looking statements. Important factors that could cause actual results to differ materially from our forward-looking statements include, but may not be limited to, material adverse changes in general economic conditions, the popularity of racing and other gaming activities as recreational activities, the regulatory environment affecting the horse racing and gaming industries, and our ability to develop, execute or finance our strategies and plans within expected timelines or budgets. In drawing conclusions set out in our forward-looking statements above, we have assumed, among other things, that there will not be any material adverse changes in general economic conditions, the popularity of horse racing and other gaming activities, weather and other conditions at our facilities, the regulatory environment, and our ability to develop, execute or finance our strategies and plans as anticipated.
Forward-looking statements speak only as of the date the statements were made. We assume no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking statements. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect thereto or with respect to other forward-looking statements.
Magna Entertainment Corp.

Tags: Entertainment by admin
No Comments »

AURORA, ON, April 30 /PRNewswire-FirstCall/ — Magna Entertainment Corp. (”MEC” or the “Company”) (NASDAQ: MECA; TSX: MEC.A) today announced that it has extended the maturity date of its $40.0 million senior secured revolving credit facility with a Canadian chartered bank to May 23, 2008 and was granted a waiver of a financial performance covenant applicable to MEC’s California operations for the fiscal quarter ending March 31, 2008.
MEC, North America’s largest owner and operator of horse racetracks, based on revenue, acquires, develops, owns and operates horse racetracks and related pari-mutuel wagering operations, including off-track betting facilities. MEC also develops, owns and operates casinos in conjunction with its racetracks where permitted by law. MEC owns and operates AmTote International, Inc., a provider of totalisator services to the pari-mutuel industry, XpressBet(R), a national Internet and telephone account wagering system, as well as MagnaBet(TM) internationally. Pursuant to joint ventures, MEC has a fifty percent interest in HorseRacing TV(R), a 24-hour horse racing television network, and TrackNet Media Group LLC, a content management company formed for distribution of the full breadth of MEC’s horse racing content.
This press release contains “forward-looking statements” within the meaning of applicable securities legislation, including Section 27A of the United States Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the United States Securities Exchange Act of 1934, as amended (the “Exchange Act”) and forward-looking information as defined in the Securities Act (Ontario) (collectively referred to as forward-looking statements). These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and the Securities Act (Ontario) and include, among others, statements regarding the anticipated maturity date of our senior secured revolving credit facility and other matters that are not historical facts.
Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or the times at or by which such performance or results will be achieved. Undue reliance should not be placed on such statements. Forward-looking statements are based on information available at the time and/or management’s good faith assumptions and analyses made in light of our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances and are subject to known and unknown risks, uncertainties and other unpredictable factors, many of which are beyond our control, that could cause actual events or results to differ materially from such forward-looking statements. Important factors that could cause actual results to differ materially from our forward-looking statements include, but may not be limited to, material adverse changes in: general economic conditions; the popularity of racing and other gaming activities as recreational activities; the regulatory environment affecting the horse racing and gaming industries; our ability to obtain or maintain government and other regulatory approvals necessary or desirable to proceed with proposed real estate developments; increased regulation affecting certain of our non-racetrack operations, such as broadcasting ventures; and our ability to develop, execute or finance our strategies and plans within expected timelines or budgets. In drawing conclusions set out in our forward-looking statements above, we have assumed, among other things, that we will be able to successfully implement our September 12, 2007 adopted plan to eliminate the Company’s debt by December 31, 2008 and comply with the terms of and/or obtain waivers or other concessions from our lenders and refinance or repay on maturity our existing financing arrangements (including our short-term bridge loan facility of up to $80.0 million with a subsidiary of our controlling shareholder, MI Developments Inc., and the senior secured revolving credit facility with a Canadian financial institution), and there will not be any material adverse changes in: general economic conditions; the popularity of horse racing and other gaming activities; weather and other environmental conditions at our facilities; the regulatory environment; and our ability to develop, execute or finance our strategies and plans as anticipated.
Forward-looking statements speak only as of the date the statements were made. We assume no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking statements. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect thereto or with respect to other forward-looking statements.
Magna Entertainment Corp.

Tags: Entertainment by admin
No Comments »