Full House Resorts Proposes Innovative Racetrack, Casino, Hotel, and Golf Course in New Mexico
Called “La Posada del Llano,” the Proposed Resort Will Reinvent the Horseracing Industry
Full House Resorts Has Optioned Approximately 520 Acres East of Clovis, New Mexico
Project Website with Full Renderings and Site Plan Available at www.LaPosadaNewMexico.com
CLOVIS, N.M., Aug. 20, 2018 (GLOBE NEWSWIRE) -- Full House Resorts has proposed to the New Mexico Racing Commission to build “La Posada del Llano,” a destination resort that will include a racetrack, casino, luxury hotel, 18-hole golf course, water park, and other amenities on the plains of eastern New Mexico. The Las Vegas-based company operates five casino and related hospitality and entertainment facilities throughout the United States. The development proposal was submitted in response to the New Mexico Racing Commission’s competitive process for the state’s sixth racing license.
“We believe that eastern New Mexico has tremendous potential to attract visitors from throughout the area, including from nearby Amarillo, Lubbock, and other parts of western Texas,” noted Daniel R. Lee, President and Chief Executive Officer of Full House Resorts. “We are proposing to build an entire regional destination resort, entailing much more than just a racetrack and casino. Such a development will produce more jobs, more development, greater tax revenues, and larger horseracing purses, while also becoming a major attraction and amenity for the region.”
Setting the proposed racetrack apart will be the “Moving Grandstand,” a unique feature that will transform how fans experience live horse races. Similar to a tram or streetcar, the Moving Grandstand would feature stadium seating for hundreds of guests and travel at the same speed as the racehorses, circling the track and offering spectators a unique close-up view of the horses for the entirety of the race.
Commented Mr. Lee, “In a typical race, spectators in the grandstand only see two brief moments of a race – its start and the closing seconds at the finish line. Our Moving Grandstand changes that, allowing spectators to race side-by-side with the horses for every dramatic second of the race. By reinventing the viewing experience, we intend to open horse racing to a new generation of fans.”
The development will also feature a premium RV park, a water park located in the track’s infield, and five miles of recreational riding trails.
“We wanted to design a facility that the City of Clovis – and really, the entire State of New Mexico – can be proud of,” said Mr. Lee. “La Posada del Llano will attract a broad range of guests – those who enjoy a quality racetrack, those whose interest is piqued by our unique set of amenities, and even those who are interested in family entertainment.”
“We are committed to building a project that will provide a luxury experience and complement the unique historic character of the area,” continued Mr. Lee. “We believe it will help transform Clovis into a year-round tourist destination.”
La Posada del Llano pays homage to the Hispanic heritage and population of the region. “La Posada” means “The Inn” in Spanish and the region is known as the “Llano Estacado,” which translates to “short-grass plains.” The Full House management team previously developed L’Auberge du Lac, which is the largest and most successful casino resort in Louisiana. “L’Auberge du Lac” means “The Inn on the Lake,” paying homage to the French cultural history of Louisiana.
Full House Resorts brings an award-winning team of designers, architects, and planners to the project. For a closer look at La Posada del Llano, including renderings and the site plan, please visit www.LaPosadaNewMexico.com.
About Full House Resorts, Inc.
Full House Resorts, Inc. owns, leases, develops and operates gaming facilities throughout the country. The Company’s properties include Silver Slipper Casino and Hotel in Hancock County, Mississippi; Bronco Billy's Casino and Hotel in Cripple Creek, Colorado; Rising Star Casino Resort in Rising Sun, Indiana; and Stockman’s Casino in Fallon, Nevada. The Company also operates the Grand Lodge Casino at the Hyatt Regency Lake Tahoe Resort, Spa and Casino in Incline Village, Nevada under a lease agreement with the Hyatt organization. For further information about La Posada del Llano and Full House Resorts, please visit www.LaPosadaNewMexico.com and www.fullhouseresorts.com.
Forward-looking Statements
This press release contains statements by Full House Resorts, Inc. that are "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assurances of future performance. Some forward-looking statements in this press release include those regarding expected amenities of La Posada del Llano. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Such risks include, without limitation, the risk that the Company’s La Posada del Llano proposal is not chosen by the New Mexico Racing Commission, there are multiple bidders for the racetrack license, construction risks, a proposed project cost is not yet finalized, financing for such a project is not yet in place, the financial performance of our growth projects, general macroeconomic conditions, and regulatory and business conditions in the gaming industry. Additional information concerning potential factors that could affect our financial condition and results of operations is included in the reports we file with the SEC, including, but not limited to, our Form 10-K for the most recently ended fiscal year and our other periodic reports filed with the SEC. We are under no obligation to (and expressly disclaim any such obligation to) update or revise our forward-looking statements as a result of new information, future events or otherwise, except as otherwise required by law. Actual results may differ materially from those indicated in the forward-looking statements.
Media Contact: Tom Garrity The Garrity Group Public Relations (505) 898-8689 tom@garritypr.com Investor Contact: Lewis Fanger, Chief Financial Officer Full House Resorts, Inc. (702) 221-7800
Released August 20, 2018