New Mexico Developer Buying Isle Of Capri

WESTLAKE, La. (AP) - The Isle of Capri Casinos, Inc. has agreed to sell its Westlake property for about $134.5 million to a New Mexico developer. If the deal is approved by the Louisiana Gaming Control Board, Kicks Entertainment, an entity of Laguna Development Corp. is planning some improvements to the site. LDC spokesman Skip Sayre (SAY-er) says changes planned include new slot machines, new decor and more food and beverage options. Multiple news outlets report (http://bit.ly/2beNNkW ; http://bit.ly/2bjVN6a ) Laguna plans to retain all of the nearly 1,000 employees. Isle of Capri Chief Executive Officer Eric Hausler says the sale is expected to close in late fiscal 2017 to early fiscal 2018. He says the company intends to use the cash proceeds to reduce debt and other corporate purposes.