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What: Shares of Isle of Capri Casinos (NASDAQ: ISLE) jumped 15.3% in June, according to data provided by S&P Global Market Intelligence, after the company wowed investors with its latest earnings report.

So what: Fiscal fourth-quarter revenue fell slightly, to $264.9 million, and adjusted EBITDA rose less than 1%, to $65.8 million. But net income jumped from $3.1 million a year ago to $25.0 million last quarter, or $0.62 per share, which easily topped analysts' estimates.  The company also opened its new $60-million casino in Bettendorf, Iowa, which should help boost revenue in the region.

Now what: Regional gaming is in a funk, so even flat results can be just what investors are looking for right now. That's why flattish revenue and EBITDA gave the stock a boost, even if they aren't impressive long term.

What I find encouraging is the value of the stock, with $211.3 million in EBITDA over the past year compared to $922.7 million in debt, and a $753-million market cap. The enterprise value (debt plus market cap) to EBITDA ratio of 7.9 is low for a company with a solid business. If operations continue their steady pace, the stock has room to run higher.