Isle of Capri Casinos shuffles executive ranks

Regional gaming operator Isle of Capri Casinos promoted company President Virginia McDowell to chief executive officer while current CEO James Perry will transition into the role of executive chairman.

The St. Louis-based company said Tuesday the moves would take place by the end of the year. Isle of Capri also expects to hire a new chief operating officer during the transition period.

Isle of Capri operates 15 casinos, primarily in the Midwest and south, and was licensed last year in Nevada. Company officials have said they are seeking casino management or ownership opportunities in Las Vegas.

Analysts said investors shouldn't see much change in the company's direction because of the leadership transition.

"Isle's turnaround will remain a work in progress," Macquarie Securities gaming analyst Chad Beynon said. "During the last three years, while Virginia has been with the company, the company has successfully exited the money-losing United Kingdom operations, won new jurisdictional opportunities and positioned itself to enter more markets (Pennsylvania and Nevada) at a capital expenditure-light standpoint."