Isle of Capri Casinos, Inc.NASDAQ
Bailing On Isle Of Capri
Vince Martin • 14 Comments
Vince Martin • 14 Comments
Thu, Dec. 1, 8:34 AM
Wed, Nov. 30, 5:30 PM
Mon, Oct. 24, 8:24 AM
- FanDuel (Private:DUEL) and DraftKings (Private:DRAFT) are desperately short on cash as they near a settlement with the New York attorney generals' office, reports The New York Times.
- The companies still have a thriving business model, but have been buried with legal and lobbying costs. There's a general sense in the gaming industry that casinos will jump into daily sports fantasy games after the legal clouds clear.
- Related stocks: NYNY, PENN, MCRI, GDEN, PNK, WYNN, ISLE, CNTY, ERI, CZR, LVS, BYD, OTC:WIMHF, OTCPK:WIMHY, OTCQB:TPCA, OTC:WIMHF, AYA, DDAY, OTCPK:DTFSF, OTCPK:EIHDF, OTCQB:GLXZ.
- Related ETF: BJK.
Mon, Sep. 19, 12:57 PM
Mon, Sep. 19, 10:42 AM
- Regional casino stocks are drawing some interest after Eldorado Resorts (ERI -1%) acquired Isle of Capri (ISLE +30.2%) for a sweet 36% premium.
- Gainers include Monarch Casino & Resort (MCRI +4.9%), Red Rock Resorts (RRR +2.7%), Golden Entertainment (GDEN +1.2%), and Boyd Gaming (BYD +0.9%).
- The combination of Eldorado and Isle of Capri will create a regional player with casinos spread across ten states. The early indication is that major shareholders of both company have backed the deal.
- Previously: Eldorado Resorts acquires Isle of Capri Casinos (Sept. 19)
- Related ETF: BJK.
Mon, Sep. 19, 9:16 AM
Mon, Sep. 19, 7:06 AM
- Eldorado Resorts (NASDAQ:ERI) acquires Isle of Capri (NASDAQ:ISLE) for $23.00 in cash or a fixed consideration of 1.638 shares of Eldorado common stock.
- The total deal value is $1.7B, inclusive of $929M of long-term Isle debt.
- The company says the transaction is expected to be immediately accretive to Eldorado's free cash flow and EPS, inclusive of identified cost synergies of approximately $35M in the first year following the completion of the transaction.
- ISLE +29.36% premarket to $21.90.
- Source: Press Release
Tue, Aug. 30, 9:15 AM
Tue, Aug. 30, 8:33 AM
Mon, Aug. 29, 5:30 PM
Wed, Aug. 10, 9:10 AM
- Former NBA Commissioner David Stern will make a key speech at the Global Gaming Expo next month in which he will present the case for legalizing sports betting, according to ESPN.
- Stern's turnaround on sports betting lines him up with the views of current NBA commissioner Adam Silver who supports a federal framework of betting regulations. The NBA has a small stake in FanDuel (Private:DUEL) in what could be considered a bit of a hedge.
- Sports betting is slated to be a major focus of the Global Gaming Expo scheduled for September 26-September 29 at the Sands Expo. The Nevada Gaming Commission is also considering allowing remote wagering from all 50 states in what could be a major disruption to the industry if passed.
- Earlier this week, a federal court blocked New Jersey from offering legalized sports betting as it upheld the Professional and Amateur Sports Protection Act.
- POTUS watch: Both Donald Trump and Hillary Clinton have offered some support for legalized sports betting in prior comments, but don't have well-defined positions on the issue.
- Broadly-related stocks: ISLE, PENN, PNK, BYD, GLPI, CHDN, MCRI, OTCQB:TPCA, CNTY, ERI, NYNY, DDE, UWN, FLL, CZR, CACQ, MGM, LVS, WYNN, DRAFT, DDAY, OTCPK:DTFSF, ZNGA, OTC:WIMHF, AYA, OTCPK:EIHDF, SGMS, OTCQB:GLXZ.
Tue, Jun. 14, 8:33 AM
- Isle of Capri (NASDAQ:ISLE): FQ4 EPS of $0.62 beats by $0.08.
- Revenue of $264.87M (-1.6% Y/Y) misses by $1.9M.
Thu, Jun. 9, 2:45 PM
- Casino operators continue to find new ways to generate sales with gaming revenue under some pressure. The last round of quarterly reports from the sector indicated strong RevPAR numbers which means the hotel and restaurant side of the business is working well.
- A scan of Nevada gaming data over a 12-month period (5/1/15-4/30/16) might reveal some broader trends across the U.S. as the millennial generation factors into the equation.
- Nevada games and table win revenue -4.03% to $4.096B. Win percentage 13.14% vs. 12.60% for the preceding year. Baccarat and roulette fell off during the one-year period, while craps and new games contributed positively.
- Slot machine win revenue +2.8% to $7.013B. Win percentage 6.56% vs. 6.45% for the preceding year. Revenue from penny slots was up 7% Y/Y.
- Sports betting revenue growth: Football -2%; Baseball +79%; Basketball +17%; Parlays -34%.
- Sports betting win % comparisons: Football 5.4% vs. 5.5% prior; Baseball 4.3% vs. 3.1% prior; Basketball 5.2% vs. 5.1% prior; Parlays 26%. vs. 39% prior.
- Source: Nevada Gaming Control Board reports
- Related stocks: LVS, MGM, WYNN, FLL, CZR, BYD, ISLE, DRII, PNK, PENN, NYNY, OTCQB:TPCA, ERI.
- Related ETF: BJK.
Tue, May 31, 8:54 AM
- Telsey Advisory Group shifts to a Market Perform rating on Isle of Capri Casinos (NASDAQ:ISLE) after having the gaming stock set at Outperform.
- Isle of Capri Casinos closed above $16 for the first time of the year late last week.
- The casino operator is due to report FQ4 earnings on June 14. Consensus estimates are for revenue of $269.2M and EPS of $0.59.
Fri, Feb. 26, 12:26 PM
- Casino stocks are churning higher today as the mix of macroeconomic news and earnings reads continues to lean to the favorable side.
- Earlier today, casino industry supplier Scientific Games reported earnings which included a solid increase in gaming machine shipments by the company to U.S. and Canadian customers (+12% pro forma w/Bally's acquisition factored in).
- Gainers include Caesars Entertainment (CZR +11.1%), Boyd Gaming (BYD +7.5%), Isle of Capri Casinos (ISLE +3.2%), MGM Resorts (MGM +3.3%), Wynn Resorts (WYNN +2.9%), and Penn National Gaming (PENN +1.8%).
- The Market Vectors Gaming ETF (NYSEARCA:BJK) is up 1.1%, compared to a flat S&P 500 Index.
- Related: Casino Stocks Are Coming Up Aces (Feb. 23 2016)
- Related: March Madness In Las Vegas: More Proof That Gaming Has Become An Event Driven Industry (Feb. 26 2016)
Tue, Feb. 23, 8:44 AM
- Isle of Capri Casinos (NASDAQ:ISLE) cites weather challenges and isolated competitive pressure at select properties as drags on revenue in FQ3.
- Revenue growth by category: Casino -3.7% to $242.03M, Rooms -5.2% to $6.36M, Food/beverage/pari-mutuel -5.3% to $31.89M.
- The company's property in Pompano, Florida generated the most revenue during the quarter with a $44.11M haul.
- Previously: Isle of Capri misses by $0.04, misses on revenue (Feb. 23 2016)
- ISLE -13% to $11 flat on very light premarket trading. Shares were up 7% yesterday in front of earnings.