Isle reaches across Atlantic

Jul 22, 2003 6:37 AM

Expected expansion of casino gambling in England continues to be a draw for American gaming companies, the latest of which is Isle of Capri Casinos Inc. (ISLE), the Biloxi, Miss., based company.

Isle of Capri has decided to emulate the moves of other casino companies by developing a partnership with Arena Coventry Ltd. to build a $95 million entertainment complex that will feature a soccer stadium, exhibition hall, hotels restaurants and retailers, as well as a casino.

The complex will be located in Coventry, which is located in the heart of central England. The community has a population of more than 300,000 people.

John Gallaway, who recently retired as president and COO of Isle of Capri Casinos, will oversee the development of the project with the casino expected to open sometime in 2005

Earlier this year, MGM MIRAGE Inc. (MGG), and Harrah’s Entertainment Inc. announced partnerships with English firms with the intention of building casinos in various parts of the country should the government eliminate much of its restrictive gaming laws.