Full House Resorts Announces Amendment of Credit Agreements
LAS VEGAS--(BUSINESS WIRE)-- Full House Resorts (NASDAQ:FLL) announced today that the Company has amended its first lien and second lien credit facilities to modify certain covenants through the maturity date of each facility.
As part of the amendment, Full House Resorts will pay one-time fees aggregating $231,000 to the lenders. In addition, the second lien facility will receive an upward adjustment of one percent on its interest rate through maturity. Over the next nine months, the Company plans to borrow on their previously approved $10 million loan, available through the first lien agreement for the Silver Slipper hotel which is currently under construction and is expected to open late 2014 or early 2015.
“We are pleased that the company has completed this amendment to its credit facilities and we look forward to continuing to execute on our strategic business plans including our previously announced opportunities in Kentucky,” said Andre M. Hilliou, Chairman and Chief Executive Officer of Full House.
About Full House Resorts, Inc.
Full House Resorts is a locals-oriented, regional casino company that owns, develops and manages gaming facilities. Full House owns the Rising Star Casino Resort in Rising Sun, Indiana, the Silver Slipper Casino in Hancock County, Mississippi, and Stockman’s Casino in Fallon, Nevada. Full House also operates the Grand Lodge Casino at Hyatt Regency Lake Tahoe Resort, Spa and Casino in Incline Village, Nevada under a lease agreement, and 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. For more information about Full House Resorts, please visit its website at www.fullhouseresorts.com.
For further information:
Full House Resorts, Inc.
Mark
Miller, 702-221-7800
Chief Operating Officer
www.fullhouseresorts.com
or
ICR
Dan
Foley, 203-604-4553
investors@fullhouseresorts.com
Source: Full House Resorts, Inc.
Released July 21, 2014