FireKeepers Casino, Battle Creek, Michigan Reaches Construction Milestone
LAS VEGAS--(BUSINESS WIRE)--
Full House Resorts (NYSE Alternext US: FLL) (the "Company") announced today that FireKeepers Casino, located on Interstate 94 near Battle Creek, Michigan, reached another construction milestone with the enclosure of the building structure. This places the construction on schedule for the opening of the casino in the summer of 2009. After nearly six months of construction led by Clark Construction on FireKeepers Casino, enclosure of the building was completed on October 29.
"We applaud Clark Construction on their work to date and look forward to completing this facility on time and on budget; the complete enclosure of the building is an important milestone as we prepare for winter construction," said Full House Chief Executive Officer Andre Hilliou. "The opening of the FireKeepers Casino will be a major event for our company and is expected to add significantly to our growth and shareholder value."
Through Gaming Entertainment (Michigan) LLC, a joint venture with RAM Entertainment LLC, a privately held investment company, the Company has a contract to develop and manage the casino in exchange for a management fee of 26% of the net revenues as defined for a seven-year term from the date of opening.
When opened, FireKeepers Casino, located at exit 104 on Interstate 94, will feature Las Vegas-style gaming including 2,500 slot machines, 90 table games and 20 poker games. FireKeepers will offer five restaurants including a 70-seat fine dining signature restaurant, a 300-seat buffet, and a 150-seat 24-hour coffee shop. The casino will have an attached and enclosed 2,078-space parking garage. The 236,000 square foot casino is expected to provide approximately 2,200 jobs, consisting of 700 construction jobs and 1,500 permanent positions, in addition to numerous spin-off jobs.
Links to a real-time web cam view of the construction and photographs of the progress of construction can be found on the Company's web site at www.fullhouseresorts.com.
About Full House Resorts, Inc.
Full House owns, develops and manages gaming facilities. Full House owns the Stockman's Casino in Fallon, Nevada which has 8,400 square feet of gaming space with approximately 260 gaming machines, four table games and a keno game. The casino has a bar, a fine dining restaurant and a coffee shop. Full House also receives a guaranteed fee from the operation of Harrington Raceway and Casino at the Delaware State Fairgrounds in Harrington, Delaware. Harrington Raceway and Casino recently completed an expansion resulting in a total of approximately 2,100 gaming devices, a buffet, gourmet steakhouse, other food and beverage outlets 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 2,500 gaming devices, 90 table games and 20 poker tables in the Battle Creek, Michigan area, which is currently under construction. In addition, Full House has been working 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.
Source: Full House Resorts
Released November 4, 2008