Full House Resorts (NYSE Amex US: FLL) announced today that it has completed the purchase of all of the operating assets of the Grand Victoria Casino & Resort, located in Rising Sun, Indiana. As planned, the Company applied approximately $19 million in cash and drew $33 million on its $38 million credit facility in completing the transaction.
“We are excited to complete the transaction and officially bring the Grand Victoria into the Full House Resorts family,” said Andre M. Hilliou, Chairman and Chief Executive Officer of Full House. “With our experience and knowledge in managing local and regional properties, we believe we can further improve the Grand Victoria’s profitability and create additional long-term shareholder value. We want to especially thank HGMI Gaming Inc., as well as all Grand Victoria team members, for their assistance and professionalism during this transaction.”
The Grand Victoria 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 with spa, pool, meeting space and a pavilion with five food and beverage outlets, including a fine dining restaurant, buffet, sports bar, quick service restaurant and coffee shop and a large, multi-purpose Grand Theater for concerts and performance events as well as meetings and conventions. The 300-acre grounds also contain an 18-hole Scottish links golf course with full-service clubhouse. The property is conveniently located within driving distance of Indianapolis and Cincinnati, Ohio and near Lexington and Louisville, Kentucky.
About Full House Resorts, Inc.Full House owns, develops and manages gaming facilities. The Company has a management agreement with the Nottawaseppi Huron Band of Potawatomi Indians for FireKeepers Casino in Battle Creek, Michigan with approximately 2,700 gaming devices, 78 table games and a 120-seat poker room. The FireKeepers Development Authority recently announced the development of a 242-room resort-style hotel including a special events center, a full service restaurant and an expanded bingo facility. For further information, go to www.FireKeepersCasino.com. Full House also receives a guaranteed fee from the operation of Harrington Raceway and Casino at the Delaware State Fairgrounds in Harrington, Delaware. Harrington Raceway and Casino has a total of approximately 1,800 gaming devices, 40 table games, 10 poker tables, a 450-seat buffet, a fine dining restaurant, a 50-seat diner, a sports book and an entertainment lounge. For more information, go to www.harringtonraceway.com. 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 casino has a bar, a fine dining restaurant and a coffee shop. For more information, please visit www.StockmansCasino.com. In April 2011, the Company completed the acquisition of the Grand Victoria Casino and Resort in Rising Sun, Indiana. For more information on the Grand Victoria, please visit www.grandvictoria.com. Further information about Full House Resorts can be viewed on its website at www.fullhouseresorts.com. Forward-looking Statements