By KWMU / AP
Biloxi, MS – Isle of Capri said this (Tuesday) morning it will sell two of its casinos for $240 million in cash.
Legends Gaming will buy the casinos in Vicksburg, Miss. and Bossier City, La.
Isle recently announced it's moving its corporate headquarters to the St. Louis suburb of Creve Coeur in the wake of Hurricane Katrina.
The two casinos being sold were not damaged in the storm. The company reopened its Hurricane Katrina-ravaged casino in Biloxi in December.
In Missouri, Isle owns casinos in Kansas City and Boonville. Legends was recently formed to own and operate casinos primarily located in regional markets.
Proceeds from the sale are expected to fund existing development projects and pay down debt.