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Casinos & Gaming

Isle of Capri wins approval to build Missouri casino

December 1, 2010 - 10:19 am
 

Isle of Capri Casinos unanimously won approval from Missouri gaming regulators Wednesday to build a casino in downtown Cape Girardeau in the southeastern part of the state.

The move ends speculation over control of the state’s 13th gaming license, which was returned to the Missouri Gaming Commission last summer by Pinnacle Entertainment when the company closed an aging riverboat casino in downtown St. Louis.

Isle of Capri, based in St. Louis, beat out competing proposals for casino projects in northern St. Louis and Kansas City. Gaming analysts had predicted Isle would win out because the other two markets may have reached gaming saturation points.

Isle of Capri operates 15 casinos nationwide, including two in Missouri. The company was approved for a Nevada gaming license in September after acquiring a small stake in a Fernley casino. Company officials have said they are seeking opportunities to buy or manage a casino in Las Vegas.

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