ISLE Update: Looking Forward After Gulf Devastation

Isle Of Capri Casinos (NASDAQ: ISLE) should have the devastation to the Gulf of Mexico in the MS and LA region in its rear-view mirror, according to Deutsche Bank. Both states have been privy to revenues that are in-line with this time last year, prior to any environmental issues.

Deutsche Bank is expecting EPS of $0.16 for 1Q11E, based on revenues of $260.8M (similar to last year's revenues of $259.9M) and EBITDA of $50.8M, a modest 5% growth y/y.

Deutsche Bank is forecasting moderate increases in revenue at Boonville (+1.8%) and Caruthersville (+1.0%), MO, with a 5% revenue increase in Waterloo, IA.

Deutsche Bank maintains its Hold rating and $9.50 price target for Isle Of Capri Casinos, which closed yesterday at $8.61.

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