“A great pick.” That’s what Seeking Alpha says about Isle of Capri Casinos. Like so many regional operators, it hasn’t been posting lights-out 
numbers lately but its 16-casino portfolio makes it a bargain play for some. “It’s hard not to love the simplicity of the business mode,” writes Seeking Alpha, noting that the stock has been “essentially flat” after a steep plunge in 2011. Heavily invested in riverboats, Isle is especially vulnerable to seasonal disruptions from flood waters. A combination of heavy promotional allowances in a weak economy are also blamed for Isle’s lack of Wall Street curb appeal.
Profit margins at Isle Cape Girardeau, though, are on a two-quarter growth spurt and Lady Luck Nemacolin is well positioned between the Pittsburgh and Morgantown markets. Seeking Alpha deems Isle’s debt “more than manageable” at an 8.5:1 debt/equity ratio. A recent change in Isle’s line of credit “means is that Isle can take on further debt to make strategic acquisitions without having to use the proceeds to pay senior notes.” Noting recent cost-cutting measures and capex reinvestments, Seeking Alpha endorses Isle as a buy … albeit one for “deep value investors” who come armed with “a steel stomach.”
Ten counties in upstate New York could have $44 million to split after the Nov. 5 election. Or they could have nothing. That’s the bottom line of a complicated set of scenarios. A court challenge to the Oneida Indian Nation‘s latest treaty with Gov. Andrew Cuomo (D) could upset the applecart. So could defeat of Proposal One. And that’s just for starters … it’s enough to make your head swim.
If Proposal One passes, the Visram brothers want to get into the act. Their budding Vista Hospitality Group would like to add a Binghamton-area casino to the Visrams’ portfolio of holdings. Like the Oneida Nation, Ally Visram and Amin Visram are butting up against Tioga Downs owner Jeff Gural. Their previous venture into casino gambling — rebranding the Flamingo Hilton Reno as the Golden Phoenix was a dismal failure. If Gural has to go head-to-head with the Visrams, I’m sure he’ll make sure that bit of history becomes better known.
