Nevada-based Company to Buy Isle of Capri
One of the casinos in the Quad Cities will soon have a new owner. This morning, Eldorado Resorts, Inc. announced it will buy Isle of Capri Casinos for $1.7 billion.
Isle of Capri Spokeswoman, Jill Alexander, says the deal will benefit both shareholders of both companies.
Currently, 536 people work at the Isle of Capri casino and hotel in Bettendorf.
The acquisition has been approved by the boards of Isle of Capri and Eldorado Resorts, but still needs the approval of stockholders of both companies and government regulators. The deal should be final in the second quarter of 2017.
In June, Isle of Capri moved the casino from a riverboat to a new, land-based gaming floor. Alexander says the riverboat has been sold to the American Queen Steamboat Company. But it can't be moved until river levels change.