Full House Resorts (NASDAQ: FLL) announced today that its subsidiary,
Gaming Entertainment Indiana, LLC (GEI) d/b/a Rising Star Casino Resort,
has entered into a lease agreement with Rising Sun Ohio County First,
Inc. (RSOCF), a non-profit corporation, to operate RSOCF’s 104 room
hotel, adjacent to the Rising Star Casino Resort, scheduled to open in
the fourth quarter of this year. The lease agreement provides that GEI
will be the sole Lessee and assume all responsibilities, revenues,
expenses, profits and losses related to hotel operations, and in
exchange, RSOCF will receive a fixed monthly rent payment of
approximately $83,000. The parties have agreed to an initial lease term
of ten years, during which GEI will have the exclusive option to
purchase the hotel during the term at pre-determined prices and subject
to provisions of the lease.
The hotel will be an additional amenity to the Rising Star Casino
Resort, and will be integrated into its current hotel and casino
operations.
“We are excited about the opportunity to work with Rising Sun Ohio
County First, the Rising Sun Regional Foundation and the Rising Sun city
officials to further economic development in the community and provide
additional rooms for our customers,” said Andre Hilliou, Chairman and
Chief Executive Officer of Full House Resorts.
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 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 190-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. The Company acquired the Silver Slipper Casino in Hancock
County, Mississippi on October 1, 2012, which 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
Silver Slipper property includes a fine dining restaurant, buffet, quick
service restaurant and two casino bars. Full House also owns Stockman’s
Casino in Fallon, Nevada and operates the Grand Lodge Casino at Hyatt
Regency Lake Tahoe Resort, Spa and Casino in Incline Village, Nevada on
the north shore of Lake Tahoe under a lease agreement (expiring on
August 31, 2018) with an affiliate of Hyatt Hotels Corporation. In
addition, the Company 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 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 maintain a gaming license in
Indiana, Nevada and Mississippi, financing sources and terms,
integration of acquisitions, competition and business conditions in the
gaming industry, including 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.
Copyright Business Wire 2013