Ironically, now that Isle of Capri has put its Biloxi plans on hold, we finally get a look at what the revamped Isle (minus the “of Capri” and the parrot) would look like. It’s not beauty-contest winner but, if it can be financed, would be an improvement on the very sparse-looking hotel-casino presently on the site. The current Isle Biloxi has been dubbed “the Tropicana of Biloxi,” which is almost the worst insult anyone can level at the place.
Meanwhile, Isle’s market cap continues to dwindle ($88.6 million as of today), as the executive makeover continues. It’s difficult to foresee a turnaround scenario for Isle that doesn’t involve a stopover in Chapter 11, given the size of the hole dug by previous management, but Glenn Curtis thinks Isle’s an attractive takeover target (for whom, I wonder?) and a bargain play among current stocks.
