Shares of the firm gained 66 cents, or 8.2 percent, to $8.74 in afternoon trading on Wednesday.

Earlier, Perry served as the president, CEO and as a director at both Trump Entertainment Resorts and Argosy Gaming Co.
Goldstein will remain chairman of the casino industry player. "The main components of the strategic plan are to focus on organic growth opportunities," said Perry. "And to consolidate our portfolio into two brands based on a variety of factors, including the size of the facility, amenities, and the size of the primary markets served."

The brand will be expanded to include regional casinos with hotel rooms and convention facilities and upgraded amenities. The company is planning to reintroduce "Lady Luck" as the brand for smaller casinos that serve more locales.

Perry said the major projects will happen over the next few years. Wall Street is happy with the moves. "Isle remains a turnaround story and a bet on management's ability to improve operations," said Susquehanna Financial Group Robert LaFleur.

The first new Isle properties will include Biloxi, Miss., and Bettendorf, Iowa, where the company is planning to develop a casino. Caruthersville, Mo., will become the first Lady Luck property this summer.

A third-quarter reorganization at the corporate office, which included a staff reduction, is expected to reduce expenses by more than $3 million annually. The company also continues to evaluate agreements with consultants and outside contractors to cut additional expenses.

© Copyright 2008 Online Slots Place's material. It may not be published, broadcast, rewritten, or redistributed.