Isle of Capri completes $80 million casino purchase

Isle of Capri Casinos completed an $80 million all cash purchase of the Rainbow Casino in Vicksburg. Miss., from Bally Technologies Wednesday.

The deal was announced last spring. The Las Vegas-based slot machine maker had been attempting to sell the casino for several years.

“This transaction expands our presence in Mississippi and returns Isle to the Vicksburg market,” Isle of Capri Chief Executive Officer James Perry said in statement.

Isle of Capri is based in St. Louis. The company plans rebrand the Rainbow as the Lady Luck Casino Vicksburg.