Isle of Capri Casinos F1Q10 (Qtr End 07/26/09) Earnings Call Transcript

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2009-08-26 11:12:16.0

Tags: Colorado, Call Transcript, Earnings, Seeking Alpha, Isle of Capri Casinos Inc.

Question-and-Answer Session

Operator

(Operator Instructions) Your first question comes from Larry Klatzkin - [Unidentified Company]

Larry Klatzkin - Unidentified Company

A couple of questions; one, can you just give a little color on August, particularly in Colorado and how it’s been feeling since the law change and how it’s ramping up?

Virginia McDowell

I think Colorado is an evolving story, Larry. Obviously, we were pleased with the increase in revenues that we saw after the introduction of Amendment 50 in the beginning of the month, but there was a little exuberance there, a little tire kicking as it were as some people came up the mountain to see what was new.

We’re not seeing our trends in August, quite as strong as what we saw in July, but we’re still encouraged enough to be going through the process of adding some additional table games at Isle and Black Hawk to accommodate the demand.

Larry Klatzkin - Unidentified Company

The market was up 19 in July, were you guys up more than that?

Virginia McDowell

No, above that.

Larry Klatzkin - Unidentified Company

Then as far as some of the other markets, I mean have you seen any recovery in Lake Charles or in Bettendorf?

Virginia McDowell

We made some changes to our promotional spend in Lake Charles and we are more encouraged with the trends that we’re seeing in August than what we saw in June and July. What was your other question?

Larry Klatzkin - Unidentified Company

Bettendorf. When do you think that whole construction gets done?

Virginia McDowell

Bettendorf, we were very encouraged by the fact that the I-80 Bridge, which is about eight miles to the east of us, finally opened to two way traffic, mid-August. This is probably the biggest problem that we faced along with some ramp closures on the I-74 Bridge, which is closer to us. So we are more encouraged by what we’re seeing in August. We also have a pretty aggressive calendar at the Quad Cities Riverfront Convention Center in August that we’re benefiting from as well.

Larry Klatzkin - Unidentified Company

As far as what’s going on in Florida with the Indians, with you guys, the possible law changes. I assume Allan is still working as a resource and trying to help out there?

Virginia McDowell

Allan will always be part of us in one way or another and at this point, we’re just waiting to see what happens. We obviously have until the end of August. The governor has until the end of August to sign the agreement and negotiate a compact with the Seminoles. Depending upon which newspaper you pickup and read on any given day that’s either on track or there are potential issues. You’re can see that at the same time that we do.

 

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