LAS VEGAS, Sept. 23, 2021 (GLOBE NEWSWIRE) -- Full House Resorts (NASDAQ: FLL) has submitted a proposal to the Indiana Gaming Commission (“IGC”) to develop and operate a new casino hotel in Terre Haute, Indiana. This proposal was in response to an application process launched by the IGC on June 24, 2021, for a new casino in Vigo County, Indiana, with yesterday as the deadline for applications. Terre Haute is the county seat of Vigo County.
The Company’s proposal – a $250 million gaming and entertainment destination named American Place – would be developed on 32 acres of land that it currently has under contract. The site is highly visible from Interstate 70 and convenient to the I-70/SR 46 interchange. The site is approximately one hour west of Indianapolis and within 100 miles of Champaign-Urbana and Decatur, Illinois, as well as Lafayette, Indiana.
Full House’s proposed design is unique in several respects. The hotel is elevated above an interior greenscape, in a shape resembling a “happy smile.” A majority of the guest rooms are on upper levels and enjoy extended views. Atop the hotel is a pool deck and restaurant, overlooking the Wabash Valley. Along the busy neighboring freeway, Full House plans to build a large greenhouse, offering a lush interior environment. Within the greenhouse, the project would have two restaurants that offer “outdoor” dining, even in winter, as well as venues for weddings and other group events. The world-class casino would be located between the hotel and the greenhouse and offer approximately 1,000 slot machines, 50 table games, and a state-of-the-art sportsbook. Atop the casino, the Company has planned for a solar energy farm, which would provide green, sustainable energy for a portion of the complex’s electrical needs.
“After several years of studying Terre Haute and nearby communities, we believe we have designed a unique destination that will make Indiana residents proud,” said Daniel R. Lee, President and Chief Executive Officer of Full House Resorts. “American Place was designed to be a world-class entertainment facility, one that will bring new jobs and revenues to Terre Haute, Vigo County and the State of Indiana.
“We have been licensed in good standing in Indiana for many years, where we own and operate the Rising Star Casino Resort and Golf Course in Rising Sun, which opened in 1996,” Mr. Lee noted. “This project would allow us to leverage our experience and database in Indiana, with cross-marketing opportunities with Rising Star. It will also provide career advancement opportunities within Indiana for our Rising Sun team members, while allowing us to seed the new Terre Haute team with experienced Indiana gaming personnel.”
Added Alex J. Stolyar, Senior Vice President and Chief Development Officer, “Since we first started exploring gaming opportunities five years ago, we have seen how eager the citizens of Terre Haute and Vigo County have been to attract a world-class gaming destination. We are excited to propose our revolutionary development to the residents and community leaders who have so patiently waited and supported us.”
About Full House Resorts, Inc.
Full House Resorts owns, 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. Full House is currently building Chamonix Casino Hotel and Spa, which will adjoin its Bronco Billy’s casino in Cripple Creek, Colorado. The Company also operates Grand Lodge Casino at the Hyatt Regency Lake Tahoe Resort, Spa and Casino in Incline Village, Nevada under a lease agreement.
Principals in Full House Resorts have been involved in the development of numerous iconic and successful casinos, including: Treasure Island, Bellagio and Park MGM in Las Vegas, Nevada; Beau Rivage in Biloxi, Mississippi; The Borgata in Atlantic City, New Jersey; the L’Auberge and Golden Nugget casino hotels in Lake Charles, Louisiana; and the River City and Lumiere Place casino hotels in St. Louis, Missouri.
Further information about Full House Resorts can be viewed on its website at www.fullhouseresorts.com and on its Facebook page at www.facebook.com/FHResorts.
Forward-looking Statements
This press release contains statements by Full House and our officers 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 can be identified by words such as: “anticipate,” “intend,” “plan,” “believe,” “project,” “expect,” “future,” “should,” “will” and similar references to future periods. Some forward-looking statements in this press release include those regarding our expectations regarding the Vigo County proposal, including its proposed budged and planned amenities, our ability to obtain the casino license and, if we are awarded such license, to obtain financing. Forward-looking statements are neither historical facts nor assurances of future performance. 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 the control of Full House. Such risks include, without limitation, the potential for additional adverse impacts from the COVID-19 pandemic, including the emergence of variants, on our business, construction projects, proposed casino projects, indebtedness, financial condition and operating results; potential actions taken by government officials at the federal, state or local level in connection with the COVID-19 pandemic including, without limitation, additional shutdowns, travel restrictions, social distancing measures or shelter-in-place orders; our ability to effectively manage and control expenses as a result of the pandemic; construction risks, disputes and cost overruns; dependence on existing management; competition; uncertainties over the development and success of our expansion projects; the financial performance of our finished projects and renovations; inflation and its potential impacts on labor costs and the prices of construction and other materials; the effects of potential disruptions in the supply chains for goods, such as food, lumber, and other materials; general macroeconomic conditions; and regulatory and business conditions in the gaming industry (including the possible authorization or expansion of gaming in the states we operate or nearby states). Additional information concerning potential factors that could affect our 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, Part I, Item 1A. Risk Factors and Part II, Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations of our Annual Report on Form 10-K for the most recently ended fiscal year and our other periodic reports filed with the Securities and Exchange Commission. 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. Actual results may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements.
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