Missouri: new owner to inject USD 61 M to redevelop Isle of Capri Casino

After the announcement that Twin River Worldwide Holdings closed on the purchase of the casino earlier this month from Eldorado Resorts, which merged with Ceasars Entertainment, the new owner said it plans to “substantially reposition Kansas City’s struggling Isle of Capri Casino with a transformational redevelopment plan.”

The project was briefly discussed Monday afternoon by the development committee of the board that oversees the Port Authority of Kansas City, or Port KC, the Kansas City Star reports. That organization is the landlord for Isle of Capri, which sits along the Missouri River near the Kit Bond Bridge and Front Street.

Port KC documents show the new owners plan a $61 million redevelopment that will completely replace the riverboat-themed facade of the building with a modern aesthetic. The company also plans a new restaurant, retail, spa and amphitheater. It is also considering an on-site hotel, which Isle of Capri lacks.

The development committee on Monday recommended allowing the new owner to mortgage its interest in the lease as security for the repayment of the debt. Officials said that maneuver would help secure financing on the project without Port KC incurring any financial responsibility or significantly modifying the lease terms.

Isle of Capri opened in Kansas City in 1996 as the $100 million Hilton Flamingo as Missouri expanded riverboat gaming.