- Adjusted EBITDA, as defined below, for the third quarter of 2013 was $5.3 million versus $4.7 million in the prior-year period.
- At its Silver Slipper Casino in Hancock County, Mississippi for the third quarter 2013, the Company recorded revenue of $13.0 million and adjusted EBITDA of $2.5 million. The Silver Slipper Casino was acquired on October 1, 2012.
- At its Rising Star Casino Resort for the third quarter 2013, the Company recorded revenue of $17.0 million compared to revenue of $22.3 million in the prior-year quarter due to increased competition from recently opened Ohio casinos. Rising Star adjusted EBITDA for the third quarter 2013 was $1.1 million versus $2.7 million in the prior-year quarter.
- Northern Nevada casino revenue for the third quarter of 2013 was $7.2 million compared to revenue of $7.4 million in the prior-year period. Adjusted EBITDA for the third quarter 2013 was $2.3 million, a decrease from $2.6 million in the prior-year period due primarily to continuing revenue weakness at Stockman’s Casino.
- As of September 30, 2013, Full House Resorts had $25.4 million in cash and $66.3 million in outstanding debt on its balance sheet.
- On August 26, 2013, the Company closed on an amendment to its First Lien Credit Agreement to provide for a $10.0 million loan from its first lien facility lenders to fund a portion of the $17.7 million construction of the 142-room hotel at the Silver Slipper Casino. The Company has commenced construction on the hotel and expects the opening to occur during the fourth quarter of 2014.
- On November 1, 2013, the Company voluntarily prepaid its next two amortization payments due under the First Lien Credit Agreement on January 1, 2014 and April 1, 2014 in the total amount of $2.5 million.
Full House Resorts Announces Three And Nine-Month Results For The Period Ended September 30, 2013
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