Kicks Entertainment to Purchase Louisiana’s Isle of Capri Casino Hotel Lake Charles for $134.5 Million

Isle of Capri Casinos, Inc. | August 22, 2016

ST. LOUIS, Aug. 22, 2016 -- Isle of Capri Casinos, Inc. (NASDAQ:ISLE) announced today that it has entered into a definitive agreement to sell the Isle of Capri Casino Hotel Lake Charles to an affiliate of Laguna Development Corporation ("LDC"), a Pueblo of Laguna-owned business based in Albuquerque, New Mexico. Under the terms of the agreement, Kicks Entertainment, LLC, a newly formed entity owned by LDC and Eagle Holdings, LLLP, will purchase Isle of Capri Casino Hotel Lake Charles for cash consideration of approximately $134.5 million, which represents 7.8x fiscal 2016 Adjusted EBITDA, subject to a customary working capital ...