Full House Resorts Approved to Own Mississippi Gaming Licensee
LAS VEGAS--(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.
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.
Full House Resorts, Inc.
Mark Miller, 702-221-7800
Chief Operating and Chief Financial Officer
Integrated Corporate Relations
William R. Schmitt, 203-682-8200
KEYWORDS: United States North America Mississippi Nevada
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