Exhibil 99.1 DESCRIPTION OF GOVERNMENT REGULATIONS Tlte ownership and operaiion of casino gaming facilities are subjecl to extensive stale and local regulations. We are required to ohlaiti and maintain gaining licenses in each of the juri.sdictions in which we conduct ganiing. The limitation, conditioning or .su.'ipen.sion ofgaming licenses could (ond ihe revocation or non-renewal ofgaming licenses, or the failure lo reauthorize gaming in certain jurisdictions, would) materially och'ersely affecl our operaiion in thai jurisdiction. In addition, changes in law thai restrict or prohibit our gaming openilions in any jurisdiction could hove a maierial adverse effect on us. LouisUina In July 1991, Louisiana enacted legislation pennilUng certain types of gaming aclivii>' on certain rivers and waterways in Louisiana. Tlie legislation gnmted auUiority to supervise riveiboat gaining actiyities lo die Louisiana Riverboai Gaming Conuitission and ihe Riveriioai Gaming Enforcement Division oflhe Louisiana Stale Police. TIK Louisiana,Rivertioal Canting Conuitission .was aulhorized to hear and detemiinc all appeals relative to the granting, suspension, revocation, condition or renewal ofall licenses; perrails and applications. In addition, the Louisiana Riverixial Gaming Coiiunission established regulations conceniing authorized rotites, duration of excursions, minimum levels of insurance, construction of riverboats and periodic inspections. The Riverboat Gaming Enforcement Division oflhe Louisiana Slate Police was authorized to investigate apphcants and issue licenses, investigate violations ofthe statute and conduct continuing reviews ofgaming activities. In May 1996, regulatoiy oversight of riverboai ganting was transferred to the Louisiana Ganting Conlrol Board, witich is comprised of itinc voting members appouiied by the govemor. The Louisiana Gaming Conlrol Board now oversees all licensing matters for rT\'eiboal casinos, land-based casinos., racinos, video poker and certain inspects of Native American ganiing other than those responsibilities reser\'ed to tlie Louisiami Slate Police. The Louisiaiui Gaming Conlrol Board is empowered lo issue up to 15 licenses lo conduci gaming activities on a riverboat in accordance with applicable law. However, no more tiian six licenses may be granted lo rivcrtioats'opcraling from any one designaied walerwa>'. Tlie Louisiana State Police continues to be im'oKcd broadly in gimtingenforceineni and repons to the Louisiana Gaming Conlrol Board. Louisiana law permits Uie Louisiana Stale Police, among odier tltings, to continue lo (1) conduct suilabilily investigaUons, (2) audiL investigate and enforce compMance wilh standing regidations, (3) iititiate etiforcemenl and adminisirative actions and (4) perfonn "all oUicr duties and functions necessary for the efficient, efficacious, :uid thorough regulation and control ofgaming activities and operalions" under the Louisiana Gaming Control Board's jurisdiction. Louisiana ganiing law specifies certain restrictions relatingto the operation of riveiboat gaming, inchiding llie following; • agents ofthe Louisiana Slate Police are pemtitted on board at any time during gaming operations; • g;iming devices, equipnienl and supplies may onlybe purclijised or leased from pennittcd suppUers and, wiih respect to ganting equipmem, from pennitted manufacturers; • gaming may only lake place in die designaied ganting area wltile Ihe riveiboat is docked on a designated river or i\'aler\vay; • gaming equipineni may not be possessed, maintained or exhibited by any person on a riveiboat except in the specifically designated ganiing area or in a secure area used for inspection, repair or storage ofsuch equipment: • wagers may be received oiUy from a person present on a licensed rivertioat: Source: ISLEOF CAPRI CASINOS INC. lO-K, June 25, 200-9 Fowrrre^^nyMcmincstar Doriimsm Fiftseardi**" • persons under 21 are not perntiited in designated gaming areas; • e.xcept for slot machine plav. wagers may be made only wilh tokens, chips or electronic cards purchased from the licensee aboard a riverboai; • licensees nwy only use docking facilities and rouies for which they are licensed and may only board and discliarge passengers at ihe riveiboal's licensed berth; • licensees must have adequate protection and indcnutily insurance; • licensees must have all necessary federal and stale licenses, certificates and other regulatoiy approvals prior to operating a riveiboat; aixl • gaming may ordy be conducted inaccordance with tlic,tenns ofthe license and Louisiana law. To receive a gaming license in Louisiana, an applicant mustbe found to be a.person of good character, honest>' and integrity and a person whose prior activities, criminal record, if any, reputation,,hjibits and associations do not (I) pose a dircat to die public inierest of the Slate of Louisiana or to die effective regulation and control of ganting or (2) create or enliance Uie dangers of unsuitable, unfair or illegal practices, methods and activities in Uie conduct of gaming or die carr>'iiig on of business and financial arrangemenls of gaming activities. In addition, die Louisiana Ganiing Control Board will'not grant a license unless it finds that, among other things: • the applicant can demonstrate the capability, cither through training, education, business experience ora combination oflhe preceding, to operate a gaming operaiion; • the proposed finjincing oflhe rivcrboal and the gaiiting operations is adequate fordic nature ofthe proposed operaiion and is from a suitable and acceptable source; • Uie applicani demonslniles a proven abdity lo operate a vessel of comparable size, capacih' and complexity to a riverboat so as to ensure the Siti'el}' of its passengers; • the applicani submits wilh iis application fora license a detailed plan of design oflhe riverboat; • the applicani designates the docking facilities to be used by the riverboai; • ihe applicani shows adequate financial ability to consmict and mainiain a riverboat: and • the applicant has a good faith plan to rccmiL, train and upgrade minorities in all employnient classifications, Au iitilial hcense to conduct rived)oat ganting operations is valid for a tenn of five years and legislation passed in the 1999 legislative session provides for renewals eveiy five years tiiereafler. Louisiana ganiing law^ provides dial a renewal applicalion for the period succeeding the iititia! five-yeartennof an operaior's license must be made to the Louisiana Gaining Control Board and musl include a statement under oaih ofany and all changes in infonuation, including financial infonmtion, provided in the previous application. Tlic transferof a license oran inieresi in a hcense is prohibiied. Agaming license is deemed lobe a privilege under Louisiana law and, as such, may be deitied, revoked, suspended, conditioned or limiled at any time by the Louisiana (Janting Control Board. Tlie Isle-Lake Charles received its first five-year renewal of its licenses on luly 20, 1999 and received its second fiye-year renewal of its nvo licenses on Mareh 29, 2005. On March 24, 2009, the Isle-Lake Charles filed an application for a third five-year renewal of its two licenses. The two five-year renewal applications are presentiy pending approval. Certain persons affiliated wilh a riverboai gaining licensee, including directors and officers of Ihe licensee, direclors and officers of any holding company of the licensee involved in gaming operalions, persons holding 5% or greater interests in the licensee and persons exercising influence over a licensee, arc subject lo die applicalion and suitability requirements of Louisiana gaming law. Source: ISLE OF CAPRI CASINOS INC. 10-K, June 25. 2009 F£jv.™-fti1 by V,tEr.|rgs!ar Dcfumeni Rf r.earcfi-'^^ The sale, purchiisc, assigmnent, transfer, pledge or other hypothecation, lease, disposition or acquisilion by any person of securities Uiat represent 5% or more of Uie total outsianding shares issued by a licensee is subjecl to Uie'approval of the Louisiana Ganting Control Board. A security issued by a licensee musl generally disclose ihese resiriclions. Prioi"approval from the Louisiana Gaming Conlrol Board is required for llie sale, purchase, assignment, transfer; pledge or oihcr hypoUiecation, lease, disposilion or acquisition ofany ownership interesi of 5% or more ofany non-corporate licensee or for the transfer ofan)' "economic interest" of 5% or more of any licensee or affiliated gaming person. An "econontic interest" is defined as any interest whereby a person receives or is entitled to recei\'e, by agreement or olhenvise, aprofit, gain, thing of value, loan, crcdit, security intcrestiownersltip interest or oUier benefil. Fees payable to the slale for conducling gaming activities ona rivertioat include (1) $50,000 per riyerboat for llie first year of operation and $ 100.000 per year per riverboat thereafter, plus (2) 18.5% of net gantiiig proceeds. Legislation was passed during the 2001 legislative session that allowed those riverboats tltit had been required to conduci cruises, including Uie riverboats at ihe Isle-Lake Cliaries, lo remain pcnnanenlly dockside begituting April 1,2001. The legislalion also increased the gaming tax for operators from 18.5% to 21.5%, A statute also authorizes local goveming audiorities lo levy boarding fees. We curreiUly liave developmeni agreemems in Lake Cliarlcs w'iili certain local goventing aulhorilies in the jurisdiciions in which wc operate pursuanl lo witich we make payments in lieu of boaniing fees. A licensee must