US-based operator Isle of Capri has acquired a 10th of one per cent of a small casino in Fernley, Nevada, in order to gain an initial foothold in the market.
Capri’s president, Virginia McDowell, told the state Gaming Control Board that the company is seeking acquisition or casino management opportunities in Nevada, which are most likely to centre on Las Vegas.
"When the cycle turns, we’ll be ready to capitalise when the opportunity presents itself," she said. "We know the Nevada market.
"We consider our business model to be that of a locals casino operator. That’s what interests us in Las Vegas."
Capri operated the Lady Luck casino in Nevada until 2002 when it sold the property but retained the rights to the Lady Luck brand. The company now operates 15 properties in four states and recently entered the bidding for additional licences in Missouri and Pennsylvania.
