Isleworth Healthcare Acquisitio (NASDAQ:ISLE)

Discussing the fourth quarter operating results, Virginia McDowell, the Company's president and chief operating officer, remarked, "We are continuing to build a stronger business model based on fundamental operating principles and fiscal responsibility. While we believe the economic condition of our customers improved as the fiscal year progressed, we believe the effect of an economic recovery on the gaming business will be slow and steady. As a result, we continue to trim costs where possible, improve our marketing efforts and elevate the guest experience to improve the competitive positioning of each of our properties. Over the past two years we have made prudent changes to our cost structure, including the elimination of over $30 million in property-level operating costs relating to our gaming floors, guest amenities and hotels, other facilities and marketing and administrative costs.

James B. Perry, the Company's chairman and chief executive officer, said, "Our results show clearly that we have remained committed to our goal of fiscal responsibility through this difficult economic cycle. Preliminary data suggests that consumer spending may be beginning to slowly rebound and we are pleased that we have been able to re-engineer the costs associated with our business while consistently improving the guest experience across our portfolio. In addition to these efforts, we have continued to make every effort to improve our balance sheet, and are actively exploring options for deploying capital to maximize value for our shareholders, including possible acquisitions, greenfield developments and management opportunities in a variety of jurisdictions. As we look forward to completing the Rainbow acquisition as a component of our overall strategy, we will continue to fine-tune our operating model and evaluate potential opportunities with the clear goal of increased profitability and free cash flow."