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In preparation for ISLE's FQ1 2012 earnings release tomorrow, we’ve put together the pertinent forward looking commentary from ISLE’s FQ4 2011 earnings call and subsequent conferences/releases.

YOUTUBE FROM FQ4 2011 EARNINGS RELEASE AND CALL


  • “We expect to open Lady Luck Nemacolin in approximately nine months after being given the green light by state regulators.”
  • “We expect depreciation and amortization to be right around $90 million. Cash taxes paid for the year should be less than $5 million. We expect interest to be somewhere between $83 million and $86 million for the year. Corporate, around $43 million, and with approximately $6 million in stock comp, so $36 million or $37 million cash.”
  • “Maintenance capital, we expect to be right around $50 million this year– while we will continue to spend on systems conversions at some of our properties. And depending on timing related to Cape Girardeau and Nemacolin, project capital to be probably in the $90 million to $100 million range for the year.”
  • “We have been in contact with the insurance companies daily and begun working on calculations of the claims for the reopened properties and expect to have the first one filed for Davenport, probably in the next several weeks. We have a good rapport with our insurance carriers for the process.”
  • “As we went through year end and really looked at some of our self insurance accruals and things like that, it’s really not so much to do with healthcare as it has been other claims, workers’ comp, general liability and other types of insurance. We’ve had some favorable results through some things like that.”
  • “We are still dealing with some economic issues, particularly high unemployment rates in some of our markets.”
  • [Cape Girardeau GMP contract] “I would say it would probably be – $50 million to $65 million would be my guess, just going off of what the land cost, what the infrastructure costs, and then what the all the FF&E and everything else goes under there.”
  • “The best indicator for us that the discretionary money is starting to come back into gaming and people are starting to be a little bit more confident is the increase in retail play. Again, about half of our portfolio showed an increase in retail play, which was consistent with our competitors.”
  • [Project Capex timeline] “I would say roughly, probably less than 10% of it the first quarter, 15% or so the second quarter, and then the balance of it in the back half of our fiscal year, relatively equal or maybe even ramping up continued through the year.”