Full House Resorts Congratulates Its Nambe Pueblo Partner on Signing of Environmental Finding
LAS VEGAS, March 20 /PRNewswire-FirstCall/ -- Full House Resorts (Amex: FLL) extends its hearty congratulations to the Pueblo of Nambe on the completion of its Environmental Assessment and its acceptance by the National Indian Gaming Commission (NIGC) for the approval of a management contract for a casino on Pueblo lands. The NIGC has placed its Finding of No Significant Impact (FONSI) on its web site as of the March 12, 2007 signing by the Chairman of the Commission. Under the National Environmental Policy Act, the FONSI is a declaration by the federal agency that, after careful evaluation, it finds the development project will cause no significant impact upon the environment. This is a major step toward the approval of the management contract by the NIGC leading to the securing of financing, construction and ultimate opening of the casino.
Full House has executed a management agreement with the Tribe for the development and management of a first-class casino/resort on tribal land in Santa Fe, New Mexico, which is currently in development. The planned facility will consist of 600 state of the art slot machines, 8 table games, and food and beverage outlets. On behalf of the tribe, Full House is planning a development which will rival the best available in the area and offer competitive services and amenities.
Andre M. Hilliou, Chief Executive Officer of Full House Resorts, said, "this is a great step forward. Clearing these environmental hurdles is costly and time-consuming and we are grateful the NIGC has seen what we knew, that the project is environmentally friendly. Now, we can focus on the actual development, with design efforts already underway and financing being arranged. We look forward to the opening of a first-class facility to support the self-sufficiency and self-determination of this Indian community."
About Full House Resorts, Inc.
Full House owns, develops and manages gaming facilities. Full House owns the Stockman's Casino and Holiday Inn Express in Fallon, Nevada which has 8,400 square feet of gaming space with approximately 280 gaming machines, 4 table games and a keno game. The casino has a bar, a fine dining restaurant and a coffee shop. The Holiday Inn Express has 98 guest rooms, indoor and outdoor swimming pools, a sauna, fitness club, meeting room and business center. Full House also manages Midway Slots and Simulcast at the Delaware State Fairgrounds in Harrington, Delaware, along with the owner of the adjacent racetrack. Midway Slots and Simulcast has a total of over 1,500 gaming devices, a 350-seat buffet, a 50-seat diner, gourmet Steak House and an entertainment lounge. Midway is in the process of a $40 million remodeling and expansion, scheduled to open in the summer of 2007. Full House also has a management agreement with the Nottawaseppi Huron Band of Potawatomi Indians for the development and management of a first-class casino/resort with more than 2,000 gaming devices in the Battle Creek, Michigan area, which is currently in development. In addition, Full House has a Gaming Management Agreement with the Nambe Pueblo of New Mexico for the development of a coordinated entertainment venue centered on a 50,000 square foot casino and with the Northern Cheyenne Nation of Montana for the development and management of a 27,000 square foot gaming facility. Further information about Full House can be viewed on its web site 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, financing sources and terms, integration of acquisitions, competition and business conditions in the gaming industry. 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-KSB for the most recently ended fiscal year.
For the foregoing reasons, readers and investors are cautioned that there also can be no assurance that the outcomes expressed in Full House's forward- looking statements included in this release and otherwise will prove to be accurate. In light of the significant uncertainties inherent in such forward- looking statements, the inclusion of such information should not be regarded as a representation or warranty by Full House or any other person that Full House's objectives and plans will be achieved in any specified time frame, if at all. Full House does not undertake any obligation to update any forward- looking statements or to announce revisions to any forward-looking statements.
SOURCE Full House Resorts
Released March 20, 2007