Here is more of AP story; note Boyd is closing the casino.

Isle of Capri selling Tunica property to Boyd, closing casino

By Associated Press, 7/29/2002 18:55

TUNICA, Miss. (AP) Isle of Capri Casinos Inc. said Monday it has agreed to sell its Tunica property to Boyd Gaming Corp. for $7.5 million.

Boyd will take over Isle's 225 hotel rooms and two theaters in Tunica, but has no plans to operate the casino.

Biloxi-based Isle gave its 400 workers in Tunica their 60-day notice Monday. The company announced plans in March to sell its Tunica and Las Vegas casinos because they were not performing well.

The cash deal is expected to close in 60 days. Isle will retain certain personal property, including all gambling equipment, valued at $4.7 million.

Boyd owns Sam's Town Hotel Casino next to the Isle. The Las Vegas-based company said it has no plans to reopen the casino.

Boyd owns and operates 12 gaming properties in Nevada, Mississippi, Illinois, Indiana and Louisiana. The company also is developing The Borgata, a $1 billion resort in Atlantic City, N.J., in a joint venture with MGM Mirage.

The agreement with Boyd marks the second such deal for Isle in two weeks. On July 18, Isle said it would sell its Lady Luck Casino Hotel in Las Vegas to AMX Nevada LLC, a privately held firm.

The Isle owns 15 casinos in Mississippi, Louisiana, Colorado, Iowa, Missouri and
Nevada.