Isle of Capri Casinos Inc. (NASDAQ:ISLE) has hired former Trump Entertainment Resorts Inc. dealmaker Eric Hausler as senior vice president, strategic initiatives. Isle of Capri operates 17 casino properties in Mississippi, Louisiana, Iowa, Missouri and Colorado.
Hausler, who starts on Sept. 15, will among other responsibilities work to identify potential acquisitions. And in the distressed casino sector, there are plenty available, including possibly from his previous employer.
Trump Entertainment Resorts filed for Chapter 11 in February, marking its second trip into bankruptcy since 2004. The company operates the Trump Taj Mahal, Trump Marina and Trump Plaza Hotel & Casino in Atlantic City.
As The Deal Pipeline subscribers can read
here, Donald Trump has teamed with Beal Bank of Nevada affiliate BNAC Inc. to regain control of TER. A group of noteholders has submitted its own reorganization plan, and a hearing is scheduled for Sept. 16.
All told, five major game operators have gone bankrupt in the past two years. In addition to Trump, they are Station Casinos Inc., Herbst Gaming Inc., Greektown Holdings Inc. and Tropicana Entertainment LLC. That should give Hausler plenty to consider as he begins scouting for deals for Isle of Capri.
- Suzanne Stevens
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