In preparation for ISLE's F3Q earnings release tomorrow, we’ve put together the recent pertinent forward looking company commentary.
ISLE COMPLETES SALE OF BILOXI, MISS. PROPERTY (NOV 30)
YOUTUBE FROM F2Q 2013 CONFERENCE CALL
- "Cape is ramping up to our expectations."
- [Nemacolin] "We're looking forward to an opening of the property in the summer of 2013."
- [Lower capitalized interest] "until we ramp up in earnest in Nemacolin which will start to build up here, but, obviously with the project of less than half the size, it won't be of the magnitude that it has been."
- [Corporate expense] "We've just had some costs that we've incurred related to a couple of disputed matters, or some legal matters that came up in the quarter. We wouldn't expect that to continue at that rate going forward."
- [Capex] "But the balance of this year, we expect to be somewhere between $80 million and $90 million, probably $20 million to $30 million of that in Nemacolin, depending on how fast we get construction rolling. We still have a lot of settling up to do in Cape Girardeau and some stuff that wasn't paid for by the end of the quarter that's going on currently and will continue to go for the next little bit of time here until we get everything kind of wrapped up finally and then the balance of our maintenance capital for the rest of the year as well."
- "The renovation of the Lake Charles hotel rooms will be done by the end of this calendar year."
- [Acquisition strategy] "As our leverage gets down in a more kind of the lower fives or under five times, I think, that's probably when we would start to look at that a little bit. We're still probably somewhere between half a turn and a turn higher than ideally, I think, where we want to be leverage wise."
