Full House Resorts Announces Receipt of Nevada Gaming License
LAS VEGAS, Jan. 26 /PRNewswire-FirstCall/ -- Full House Resorts, Inc. (Amex: FLL) today announced that it received final approval from the Nevada Gaming Commission to own and operate Stockman's Casino in Fallon, Nevada. Stockman's Casino has approximately 8,400 square feet of gaming space with 274 slot machines, 4 table games and keno. There is a fine dining restaurant and coffee shop. In addition, the Company will acquire the Holiday Inn Express adjacent to the casino, which has 98 guest rooms, indoor and outdoor pools, sauna, fitness center and meeting rooms. The Company also received approval from the Intercontinental Hotel Group to transfer the Holiday Inn franchise and expects to close on the transaction before month-end.
Andre M. Hilliou, CEO of Full House Resorts, said, "the approval from the Nevada Gaming Commission and Gaming Control Board is a reaffirmation of the integrity and soundness of our directors and management team. It provides us the opportunity to expand into a long-term aspect of our business plan which is not limited by the length of a management contract. We expect Stockman's to provide a solid foundation for our continued expansion in local casino markets."
About Full House Resorts, Inc.
Full House develops and manages gaming facilities. Full House 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 1,581 gaming devices, a 350-seat buffet, a 50-seat diner, gourmet Steak House and an entertainment lounge. 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. Full House has signed an agreement to acquire the Stockman's Casino and Holiday Inn Express in Fallon, Nevada. A closing is anticipated in early 2007 subject to regulatory approvals. Stockman's Casino completed a renovation, which results in a total of almost 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 popular coffee shop. The Holiday Inn Express has 98 guest rooms, indoor and outdoor swimming pools, a sauna, fitness club, meeting room and business center. Further information about Full House can be viewed on its web site at www.fullhouseresorts.com.
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, Inc.
Released January 26, 2007