Isle of Capri Casinos operates 15 casinos in 13 markets. The company's chief executive Timothy Hinkley says the sale will allow the company to focus on "opportunities that more closely match our portfolio and strategic vision" but did not provide further explanation. Proceeds from the sale are expected to be used to fund existing development projects and pay down debt.
The principals of Legends Gaming include William J. McEnery, Michael E. Kelly and G. Dan Marshall. McEnery was a founding partner and director of Argosy Gaming Co. He was also a founding partner of Empress River Entertainment Corp. which previously owned and operated Empress-brand casinos in Joliet, IL and Hammond, IN. None of the principals was immediately available Tuesday morning for comment.
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