Issue 118
December 16-22, 2002
Volume 3
page 1
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Gaming News
Isle of Capri Biloxi Unveils $80 Million Expansion Plan

Casino Projects Make Atlantic City Boomtown

The Sands Celebrates 50th Anniversary

Tunica Hosts World Poker Open

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Isle of Capri Biloxi Unveils
$80 Million Expansion Plan

BILOXI, MS - The Isle of Capri Casino has unveiled an $80 million expansion plan that will add almost 400 hotel rooms on the Mississippi Gulf Coast.

Work will begin in January 2003 with the construction of a six-level parking garage and end in mid-2005 when a 396-room hotel opens.

The new hotel tower will be built just north of the present resort. The original hotel and the expansion are to look like one large structure when construction is completed.

The city of Biloxi earlier last week approved the expansion, which is expected to create several hundred jobs.

"This will allow us to move to the next level and compete real effectively with other casinos for the next 10 years," said Bill Kilduff, the casino's general manager.

After the work is completed, the Isle of Capri Casino will have 763 hotel rooms, five restaurants and more than 30,000 square feet of meeting space.

Wall Street analysts have said the Isle's expansion could trigger a wave of upgrades to Mississippi Coast casinos. Several resorts in the area, including the Copa Casino, Palace Casino and Casino Magic Bay St. Louis, wrapped up multimillion-dollar expansions and renovations this year.

Casino Projects Make Atlantic City Boomtown

/Press of Atlantic City/ - ATLANTIC CITY, NJ - It's been a landmark year in casino development in Atlantic City, as one casino opened a hotel expansion, two others topped off hotel construction projects and two others broke ground on hotel expansions. And this is just the beginning.

In the coming year, Showboat Casino & Hotel will open its new hotel tower, Resorts Casino Hotel and Tropicana Casino and Resort will top off new hotel towers, Caesars Atlantic City will begin building a Monopoly-themed retail pier and the Walk, a non-casino (but half casino-funded) retail center in Midtown, will open. The billion-dollar Borgata Hotel, Casino & Spa will also open.

The following year, in 2004, the Caesars Altantic City, Resorts and Tropicana expansions will be completed.

When this three-year construction wave is over, casinos will have spent $1.8 billion on major projects. Following is the status of major expansion projects under way or planned:

The Aztar's flagship Tropicana is building a $225 million hotel and retail expansion scheduled to open by March 1, 2004.

Workers have enclosed Borgata's 43-story hotel tower and are working on interior finishes. Hotel rooms through the 10th floor have been furnished. Landscaping work has begun. The $1 billion project, the city's first new casino hotel in 13 years, is scheduled to open summer 2003. Colony Capital Workers are completing the foundation for Resorts' $115-million, 28-story hotel, tower scheduled in May 2004.

Harrah's Atlantic City is completing the last major element of a $200 million expansion, a new gaming area for 450 slots scheduled to open this weekend.

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