Isle of Capri close to sale

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It is being reported by Reuters that the Isle of Capri is up for sale and according to sources a deal is very close to happening.

Gaming & Leisure Properties a real estate owner which is looking to branch out into casino properties is considering a deal to buy the casino operator which has operations in Mississippi, Louisiana, Iowa, Missouri, Colorado, Pennsylvania and Florida.

The Isle of Capri business is valued at $ 1.29 billion, comprising of $969 million in debt and $325 million in equity value.

Although the talks are in an advanced state Reuters sources are saying that it is not certain the deal will go through as many other companies that the gambling operator has spoken to in relation to selling have all declined to move further.

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