Isle of Capri Casinos, Inc. will continue to operate the casino at Our Lucaya Resort at Freeport, Grand Bahama, at least through the end of August. Under certain circumstances, the operator could extend the period by another two months, to allow a new operator to receive all the necessary approvals.
The agreement between Isle of Capri, the government of the Bahamas and Hutchison Lucaya Ltd., which owns the resort, also has Isle of Capri assisting in the search for a new casino operator. Several operators have shown interest, and the final decision will be made by the government and the resort owner.
Paul Keller, senior vice president and chief development officer at Isle of Capri, said, “We have worked hard to reach a mutually agreeable conclusion with the Bahamian government, and we truly appreciate all of their hard work on behalf of their citizens to put a plan in place with the goal of a seamless, timely transition.
“Moving forward, our goal is to fulfill our own strategic plan while helping to ensure that a first-class gaming operation continues on Grand Bahama and that a change in management is as simple as possible for the employees at the facility, who have continued to work hard and prove their dedication through this process.”
In early March, Isle of Capri announced it would close the casino at the end of May. The new transition agreement is seen as a win for over 200 employees who would have been out of work.
The move is part of Isle of Capri’s strategy to focus on its domestic U.S. operations. Earlier this year, the company exited its casino at Coventry in the U.K.