Isle of Capri Pays $14.3 Million Settlement - Thursday 15th of December 2005

KIMMSWICK, Missouri – As reported by the Mississippi Sun Herald: "Isle of Capri Casinos Inc. has agreed to pay $14.3 million to settle a lawsuit stemming from a decision four years ago to scrap plans for a gambling and entertainment complex near Kimmswick.

"Jefferson County officials announced the settlement Friday. The suit, filed in December 2002, alleged company's decision to withdraw its application for the $105 million development was a breach of contract.

"The plan, calling for development of 46.5 acres on the Mississippi River, was withdrawn in September 2001 amid local opposition and regulatory problems.

"Allan Solomon, the executive vice president of the Isle of Capri, based in Biloxi, said he didn't believe the company breached its contract when it withdrew from the project, but that it wanted to avoid a lengthy trial set to begin next month…"

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