ISLE YOUTUBE

In preparation for ISLE's FQ2 2012 earnings release Thursday, we’ve put together the recent pertinent forward looking company commentary.

 

 

YOUTUBE FROM FQ1 2012 CONFERENCE CALL

  • “Given the uncertainty of the timing of the resolution of the appeal of the Nemacolin license, we have removed any capital spending related to Nemacolin from our guidance for the timing being. We will reintroduce once the timeline is clear.”
  • “We now expect our project capital for the rest of the year to be approximately $50 million almost solely related to Cape Girardeau. We still expect maintenance capital for the year to also be around $50 million or $40 million incremental after the first quarter.”
  • “We'll recognize income related to the lost profits and property damage in whatever period when the claims are settled with our insurance carriers. We are in discussion with our carriers regarding the claims and hope to have all of them filed within a very near-term. And historically, we've been successful in settling flood claims within a year after they're filed. Our goal is obviously to have them settled as soon as possible, possibly by the end of the fiscal year, but there is no guarantee of that. When the claims are settled, we will be able to include any business interruption income in our EBITDA for debt compliance purposes, much like happened when we settled the Hurricane Katrina claims a few years ago.”
  • “As it relates to the trends in July and August, I think choppy probably is the best way to describe it.”
  • [Pompano margins] “We've anniversaried as far as the tax rate is concerned, but remember we have two new competitors in the market….So I think you're probably looking at a pretty good run rate.”
  • “Pompano is the one property that is the most affected by seasonality for us, so the margins will bounce around a little bit between quarters based on the business volumes of the season.”
  • [Lula] “We have 640 positions on the Coral Reef. Hopefully, September 2, we'll open with 1,100 total. So 460 on the Palm Terrace, which will include about five high limit games, both blackjack and craps, and then some virtual blackjack games. So we have a reopening campaign that's in effect, and most of our impact so far has been on a weekend when we had lower capacity.”
  • “What we've looked at over the last couple of years is there is a higher correlation in our business to the unemployment rate.”
  • [Bally’s systems rollout] “For argument's sake, we're doing about two conversions a year.”
  • [Massachusetts]  “It's not anything that we're actively pursuing.”
  • [Crown Casino sale to New Bossier casino] “The next hurdle or the only really remaining significant hurdle as far as we're concerned is probably the passage of the referendum in Bossier in November [Passed on Nov 19]. Assuming that that passes, we would expect the sale to close then by the end of November and the proceeds, over a matter of time, probably will pretty much end up going back into that property, to some renovations to the Lake Charles property.”

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