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Isle of Capri Casino to cease operations

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The Isle of Capri Casino in Grand Bahama will close a year from now, as announced by the company’s corporate office in Biloxi, Mississippi. “The purpose of terminating operations is to allow the company to focus on its core properties in the United States”, said Jill Haynes, director of Corporate Communication.

According to Ms. Haynes, the damages caused by Hurricane Katrina did not influence the company’s decision to close the casino. She explained that an important decrease in the profits between 2004 and 2005 obliged the Isle of Capri Casino to fire 13 percent of the staff. Now, the Casino has reached a point in which a tough decision must be made.

"According to my understanding, the employees will be given severance pay as mandated by the law as long as they are still employed with the casino until the time that it closes", Ms. Haynes said.

The Isle of Capri Casino is due to terminate operations on June 1, 2007.