Full House Resorts Approved to Own Mississippi Gaming Licensee
September 20 2012 - 12:44PM
Business Wire
Full House Resorts (NYSE Amex US: FLL) announced today that the
company has been approved to own a Mississippi gaming licensee by
the Mississippi Gaming Commission. The finding of suitability for
Full House to own the licensee should enable the company to close
on its acquisition of the Silver Slipper Casino Venture LLC, the
entity operating the Silver Slipper Casino in Hancock County,
Mississippi on October 1, 2012.
“We want to thank the Mississippi Gaming Commission staff for
their professionalism and the expeditious manner in approving us to
own a Mississippi licensee, and we are now only a few days away
from closing on the Silver Slipper Casino,” said Andre M. Hilliou,
Chairman and Chief Executive Officer of Full House. “We have
already received our necessary financing commitments, and we are
excited to be bringing the Silver Slipper property and team members
into the Full House family.”
The Silver Slipper Casino, which opened in November 2006, has
37,000 square feet of gaming space with almost 1,000 slot and video
poker machines, 26 table games, a poker room and the only live Keno
game on the Gulf Coast. The property includes a fine dining
restaurant, buffet, quick service restaurant and two casino bars.
The property draws heavily from the New Orleans metropolitan area
and other communities in southern Louisiana and southwestern
Mississippi.
About Full House Resorts, Inc.
Full House owns, develops and manages gaming facilities. The
Company owns the Rising Star Casino Resort in Rising Sun, Indiana.
The Rising Star Riverboat Casino has 40,000 square feet of gaming
space with almost 1,300 slot and video poker machines and 37 table
games. The property includes a 201-room hotel, a pavilion with five
food and beverage outlets, an 18-hole Scottish links golf course
and a large, multi-purpose Grand Theater for concerts and
performance events as well as meetings and conventions. In
addition, Full House owns Stockman’s Casino in Fallon, Nevada which
has 8,400 square feet of gaming space with approximately 260 gaming
machines, four table games and a keno game. The Company also
operates the Grand Lodge Casino at the Hyatt Regency Lake Tahoe
Resort, Spa and Casino in Incline Village, Nevada on the north
shore of Lake Tahoe under a five-year lease agreement with the
Hyatt organization.
The Company also has a management agreement with the Pueblo of
Pojoaque for the operations of the Buffalo Thunder Casino and
Resort in Santa Fe, New Mexico along with the Pueblo’s Cities of
Gold and Sports Bar casino facilities.
Further information about Full House Resorts can be viewed on
its website at www.fullhouseresorts.com.
Forward-looking Statements
Some of the statements made in this release are forward-looking
statements. These forward-looking statements are based upon Full
House’s current expectations and projections about future events
and generally relate to Full House’s plans, objectives and
expectations for Full House’s business. Although Full House’s
management believes that the plans and objectives expressed in
these forward-looking statements are reasonable, the outcome of
such plans, objectives and expectations involve risks and
uncertainties including without limitation, regulatory approvals,
including the ability to obtain and maintain a gaming license in
Mississippi, maintain a gaming license in Indiana, financing
sources and terms, including receipt of funding under the credit
facilities for the purchase of the Silver Slipper Casino,
integration of acquisitions, including the successful and timely
closing of the Silver Slipper Casino acquisition, competition and
business conditions in the gaming industry, plans for other and new
competition from Ohio casinos and any possible authorization of
gaming in Kentucky. Additional information concerning potential
factors that could affect Full House’s financial condition and
results of operations is included in the reports Full House files
with the Securities and Exchange Commission, including, but not
limited to, its Form 10-K for the most recently ended fiscal
year.