Isle of Capri Casinos reported a net loss of $13.5 million, which was an improvement compared to last year’s second quarter net loss of $24.6 million.
The St. Louis-based casino developer and operator posted net revenues of $254.1 million, down $24.7 million, or 8.9 percent, on last year’s second quarter. Earnings before interest, taxes, depreciation and amortization increased by $200,000 to $35.7 million.
James B. Perry, Isle of Capri’s executive vice chairman and chief executive, noted that the company had revenue declines in August and September but slightly recovered in October. Mr. Perry said the primary focus will continue to be protecting Isle of Capri’s capital structure.
“I believe that our company has done an effective job of improving our operations while coping with the first overall declining gaming market that I have experienced in my thirty year career,” Mr. Berry said in the results statement. “We are doing everything prudently possible to partially compensate for declining revenues.”