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Lady Luck Marquette sold

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Submitted by admin on Tue, 10/18/2016 - 13:25

Isle of Capri Casinos, Inc., announced Oct. 13 that it has entered into a definitive agreement to sell its Lady Luck Marquette casino to CQ Holdings Company, Inc., for $40 million. (NIT file photo)

Isle of Capri Casinos, Inc., announced Oct. 13 that it has entered into a definitive agreement to sell its Lady Luck Marquette casino to CQ Holdings Company, Inc., for $40 million.

The sale to CQ Holdings Company, which is based in Swansea, Ill., will close in early fiscal year 2018, per the approval of the Iowa Racing and Gaming Commission, the Illinois Gaming Control Board and customary closing conditions.

CQ Holdings is the parent company of the Casino Queen casino in East St. Louis, Ill. Lady Luck Marquette is expected to be rebranded Casino Queen Marquette once the deal is complete.

“Since we acquired Lady Luck Casino Marquette in March 2000, our talented team members have built fantastic customer relationships,” said Eric Hausler, chief executive officer of Isle of Capri Casinos, in a statement. “Our Marquette team will continue providing customers with the same great experiences for which they are known.”

Isle of Capri operates 14 casinos around the country, under either the Isle or Lady Luck names. In September, Isle of Capri was acquired by Eldorado Resorts, of Reno, Nev., for $1.7 billion. The sale of the Marquette casino is not expected to affect the timing of that transaction.

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