McDowell promoted to CEO at Isle of Capri

Regional gaming operator Isle of Capri Casinos promoted company president Virginia McDowell to chief executive officer while current CEO James Perry will transition into the role of executive chairman.
 
The St. Louis-based company said today the moves would take place by the end of the year. Isle of Capri also expects to hire a new chief operating officer during the transition period.
 
Isle of Capri operates 15 casinos, primarily in the Midwest and south, and was licensed last year in Nevada. Company officials have said they are seeking casino management or ownership opportunities in Las Vegas.
 
Analysts said investors shouldn’t see much change in the company’s direction because of the leadership transition.
 
“Isle’s turnaround will remain a work in progress,” said Macquarie Securities gaming analyst Chad Beynon. “During the last three years, while Virginia has been with the company, the company has successfully exited the money-losing United Kingdom operations, won new jurisdictional opportunities and positioned itself to enter more markets (Pennsylvania and Nevada) at a capital expenditure-light standpoint.”
 
Stifel Nicolaus Capital Markets gaming analyst Steven Wieczynski said the timing of the transition made sense. Isle of Capri was recently awarded a license to build a casino in Cape Girardeau, Mo.
 
“Given Ms. McDowell’s over 30 years of gaming industry experience and recent success in improving the overall operational efficiency across Isle’s portfolio of properties, we believe she was a logical choice to replace Mr. Perry as the company’s CEO,” Wieczynski told investors.