ST. Louis (

TheStreet

) --

Isle of Capri Casinos

(ISLE)

widened its third-quarter loss, severely missing forecasts and sending shares tanking in early morning trading.

During the quarter, Isle of Capri recorded a loss of $10.6 million, or 33 cents a share, compared with a profit of $46.1 million, or $1.45, in the year-ago period. Analysts were calling for a loss of 12 cents a share for the casino operator.

Isle of Capri's revenue tanked 25% to $227 million from $301.8 million last year.

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Isle of Capri is pursuing gaming opportunities in areas like Pennsylvania in order to boost revenue.

The company also amended its credit facility, which will should result in a charge of about $2.2 million in the fourth quarter.

Shares of Isle of Capri are sinking 4% to $8.17 in morning trading.

--Reported by Jeanine Poggi in New York

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